BRASILIA (Reuters) -The United States should look more generously at Latin America and South America, Brazil Finance Minister Fernando Haddad said on Monday, arguing that the world’s largest economy has “much to gain” from greater industrial development across the continent. Speaking to local outlet UOL, Haddad said President Luiz Inacio Lula da Silva will not […]
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US should take more generous view of Latin America, Brazil finance minister says
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BRASILIA (Reuters) -The United States should look more generously at Latin America and South America, Brazil Finance Minister Fernando Haddad said on Monday, arguing that the world’s largest economy has “much to gain” from greater industrial development across the continent.
Speaking to local outlet UOL, Haddad said President Luiz Inacio Lula da Silva will not choose between the United States and China, as he believes Brazil must adopt a multilateral approach.
Haddad noted that China has been Brazil’s top trading partner for years, while the United States remains at the forefront of technological innovation, something Latin America’s largest economy also cannot afford to ignore.
According to the minister, Lula will set a date to announce a national policy for data centers upon returning from his trip to China, adding that the initiative is strategic for Brazil, including for security reasons.
As previously reported by Reuters, Lula is expected to issue an executive order granting tax waivers for technology investments in data centers, pitching Brazil as a green infrastructure hub by leveraging its abundant renewable energy supply.
More than 80% of Brazil’s electricity comes from renewable sources such as hydro, solar, and wind.
“We are importing 60% of our data center services today, which makes no sense,” Haddad said.
(Reporting by Marcela Ayres; Editing by Aidan Lewis and Mark Porter)