According to surveys conducted a few months ago, Brazil’s economy has grown at a faster pace in the last three years. But the country’s investment sector experiences sluggishness time and again. This South-American country is introducing reforms to attract European and American investors, according to Alexandre Petry, the head of the investment unit at Apex-Brazil. With the flow of foreign investment the rising demand of translators and translation service companies is noticeable.
Traditionally, the European countries and mainly EU have invested in Brazil. But in the recent years, the Chinese and North American companies have started taking interest in bringing investment to the country. The South American region has been the main focus of the Chinese companies for getting raw materials to use in their industries. And the region has reaped great economic benefits as a result. The trade between China and Latin American countries totaled to about only a $10 billion dollars in 2010-11, whereas now it has risen to $241 billion. This clearly shows the interest of the second leading nation of the world in the region. This creates a need for Spanish and Chinese translators in the region. China has become the main lender to Latin America. According to an estimate, only in the year 2010, Chinese government sanctioned $37 billion dollars for the region. A big percentage of the loan went to Venezuela, Brazil, Ecuador and Argentina. But these loans will be repaid in the form of long-term commodity sales to China, which is a big compromise on the region’s natural resources. This exploitation of the natural resources of the region will definitely bring environmental degradation, but as things are, it cannot be helped.
Some European companies have heavily been investing in the automobile industry, banking sector, telecommunication services and the petroleum industry of the region. And these companies are in there for a long haul. The country needs continuous investments in the above mentioned sectors. The recent investments in Brazil have undoubtedly helped the country to battle against the worst economic and financial crisis the Western world has experienced lately. Economic development in the Latin American region, specially of Brazil has resulted in opportunities for translation agencies which are reaping the benefits of this newly rising investment tide.
Although a recent sluggishness has been noticed by the financial experts of Brazil, they are of the view that there are some sectors and niches which are experiencing an economic boom as well. For example, the Brazilian government has come up with a concessions program in the infrastructure and logistics sector which is going to include the railways, roads, ports and airports. Naturally, its going to cost a lot to the government and a lot of investment would be needed consequentially. All is not amiss for investment in the country and we can surely see a light at the end of the tunnel. New opportunities are opening up and once the country overcomes its temporary economic stagnation, Brazil would again become a goldmine for foreign investors. Apart from the foreign investors, it is a great opportunity for the translation service companies to reap the benefits of a rising demand for Portuguese translation services. Setting up small regional offices can increase access to translators and the foreign companies will feel no reluctance when dealing with a translation service company that has a regional office in the country as well.