COFCO Executive Vice-President Johnny Chi has said the Chinese commodities trader intends to increase investment in its operations in Brazil, where economic reform will improve the business environment, Reuters reports.
The news agency quotes Mr Chi as telling a conference in Brazil that his company is considering investing in warehouses and improvements in transport systems in Brazil.
“We expect to have a business environment that is more predictable and safe,” Mr Chi said.
The report says the Brazilian government is making reforms, including pension and tax reforms, to improve its finances and pique the interest of investors.
Mr Chi said Brazilian agriculture had great potential to expand.
COFCO obtained almost 11 million tonnes of soybeans in Brail last year, nearly 20 percent more than the year before, Reuters says.
