Brazilian president tries luring investors with speech at Davos summit

The newly elected Brazilian president Jair Bolsonaro said at Davos summit in Switzerland his country is open for business. His message was simple for investors, bankers and CEOs.

Addressing to the gathering at the World Economic Forum in the Swiss mountain resort Bolsonaro outlined the plans for Brazil with the intention to attract ample amount of foreign investment.

He was sworn in as president earlier this month and in his election campaign promised to move Brazil to the right.

Bolsonaro said, “We will work to lower the tax burden, streamline rules and make life easier for those who want to produce and do business as entrepreneurs, invest and create jobs.”

The former army captain continued further saying that Brazil will respect and honor contracts and they will work to foster economic stability.

Meanwhile, supporters believe Bolsonaro is a no-nonsense leader and is capable in tackling corruption as well as to get tough on crime.

According to opponents the presidency of Bolsonaro will threaten human rights and ecological preservation in the country.

Without using bombastic language the president tried to explain how his administration would open up the relatively closed economy of Brazil. This will make easier for investors to do business in the country.

Brazil has lately been hit by a massive corruption scandal and economic malaise. In 2016-17 it was in recession and recovery is a bit slow than expected.