On Location:
Stepping Up
Canadians urged to step up to the challenge to reap the rewards in Brazil
According to one of the most well-respected agencies for regulatory arbitration and a driver of Canadian investment presence in Brazil, the country represents some of the most significant opportunities for Canadians in the world, but it’s not for the faint of heart.
James Mohr-Bell heads up the Brazil-Canada Chamber of Commerce from his office in Sao Paulo and says for Canadian companies willing to step up to the challenge, there are few better climates of investment return in the world right now than those available for the taking in Brazil.
“What you find here are what I call generations of Canadian investment in Brazil,” says Mohr-Bell who recently spoke with Slick World for a lengthy dialogue about the opportunities and obstacles of doing business in Brazil.
“As far back as 1899, Brazil’s system of public utilities was made responsible by investors from Canada, and that company interest remains here today (Brookfield, once known as BrasCan) as one of the strongest companies in Brazil and it is Canadian. Then we had a whole generation of mining interests from Canada come in through the ‘50s and ‘60s, which remain today, followed by a generation of telecommunications in the ‘90s, and then later a whole array of industries represented by Canadian investment.
“So, if you ask some of those long-established companies, they love Brazil; they describe the country as a very attractive foreign market, one of the best places to do business anywhere. But if you ask what I call the new companies, they say, ‘Oh, it’s too hard, too complicated, too competitive, too restrictive.’ They haven’t done the research, they aren’t willing to make any long-term investment. They don’t understand the marketplace here or Brazil generally, they just see it as complicated and don’t pursue the opportunities.”
A leading Rio de Janeiro government official, who did not have permission for a formal interview, also tells Slick World many Canadians enter Brazil with a very limited understanding of the country and its economic realities and dynamics. In more than one case, the official dealt with Canadian firms that, for instance, prepared documents and presentations in Spanish, not even understanding Brazil is a uniquely-Portuguese speaking country in South America with many other distinctions readily available with just a bit of research.
Mohr-Bell says the hurdles Canadians may not be used to clearing while doing business back home are well worth the effort considering Brazil’s ripe investment climate, as indicated by all local signals.
For more on this story, see Slick World November, 2009 issue featuring Brazil.
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