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Japanese investors do not want to take risks in Brazil

JAPAN REFUSES NEW BUSINESS AND INVESTMENTS IN BRAZIL FOR LOSSES WITH JET LAVAS, LEGAL INSECURITY AND LACK OF CREDIBILITY CURRENT RULERS (CORRUPTION)

Comment from the blog: José Serra's Itamaraty played Michel Temer in one of the biggest humiliations in the history of a ruler in BRICS.

Temer went to Japan with 'saucer in hand', hoping to attract investment to Brazil, but it took a shrug of the Prime Minister Shinzo Abe's ear.

According to Folha, despite the handshake between the heads of state, behind closed doors the Japanese prime minister was short and thick: he complained about Japan's billion dollar losses recently due to the Lava Jato operation, responsible for paralyzing countless projects and Infrastructure that the Japanese developed in partnership with Brazilian contractors.

He gave as an example the Kawasaki losses of R $ 760 million - better known in Brazil for his motorcycles, but which in Japan is the largest manufacturer of ships, trains and other heavy machinery - at the Enseada Shipyard, in Rio de Janeiro.

Kawasaki manages the yard along with Odebrecht, OAS and UTC, and was paralyzed by Lava Jato.

The following is an excerpt from a report by Folha's special envoy to Japan.

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on the leaf

(...)

But while the official photos show a cordial shake of hands between the heads of government of the two countries, behind closed doors the attempt to restore the confidence of the Japanese was halved.

Abe's own statement of support for the new Brazilian macroeconomic policy in the post-meeting speech with Temer had a tone not of praise but of criticism of the crisis introduced by the previous policy.

Folha learned that at the working meeting with Temer, which occurred without the presence of the press, the prime minister was rather direct and hard.

The complaints focus on the billion dollar losses suffered by Japanese companies that invested in projects of the then PT government in areas such as shipbuilding, oil and gas and power, all affected by the Lava Jato operation.

Kawasaki, the largest manufacturer of ships, trains and other heavy machinery in Japan, reported losses of R $ 760 million with the Enseada Shipyard, in which it has a partnership with the contractors Odebrecht, OAS and UTC.

Large industries among the 700 that settled in Brazil also lost with the change of rules of the Brazilian electric sector, which increased the cost of electricity.

The collapse of the subsidized consumption and credit model also hit the automotive industry, in which the Japanese invested $ 7 billion between 2003 and 2006.

(...)

In the case of the naval industry, for example, the company Sete Brasil, which canceled orders leading the shipyards to the collapse, had been created with the promise of a BNDES loan of R $ 9 billion that never took place.

It is no coincidence that Temer and the ministers who have come forward with the infrastructure concession plan have repeated dozens of times the terms "legal certainty," "predictability," and "market rules," and have declared repudiation of government intervention in business.

While Abe's charges were set aside, those of the entrepreneurs were public, both at the seminar on Tuesday (18) and at lunch on Wednesday (19).

The Brazilian government has made an effort to emphasize that it will leave to the market the calculation of the risk / return ratio in the infrastructure auctions, for which it expects to attract R $ 24 billion next year.

But Japanese investors have responded in a number of ways that they hesitate to take those risks again until they are sure of the rules of the contracts and that they will not be broken.

Google images source

Source for writing http://www.ocafezinho.com/2016/10/20/temer-vai-de-pires-na-mao-ao-japao-e-leva-for-do-first-minister-shinzo-abe/