Message from Miguel Arraes De Alencar

By de Alencar, Miguel Arraes | Global Finance, November 1997 | Go to article overview

Message from Miguel Arraes De Alencar


de Alencar, Miguel Arraes, Global Finance


Governor of the State of Pernambuco

The global economy is incessantly looking for new investment options, for new locations that are ideal for their endeavors. Some recent expectations have been frustrated, as in the case of Eastern Europe. Until recently, the Pacific Rim economies have been the center of attention of international investors, but it seems that region has exhausted its capacity to absorb significant additional inflows of resources.

Latin America is emerging as a new focus of attention. Political stability, controlled inflation, and understanding among countries capable of creating systems such as the Mercosul regional trade area are attracting the attention of the international business community. And without doubt, Brazil is the most important market in the region.

As they look at our country, investors are taking note of Brazil's northeastern region and of our state in particular. Pernambuco has been the leader of the Northeast since colonial times. It was the first state in the region to develop a diversified industrial base, it is the center for the commercial and service sectors of the region, and it has one of the best universities in Brazil.

Located on a point jutting out into the Atlantic, Pernambuco has been a pioneer in developing a strategy to participate in the economic revival of the Northeast.

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