Portuguese investment in Brazil plummets

PORTUGUESE COMPANIES have severely cut back on investment in Brazil, according to the Bank of Brazil.

Between January and September this year, Portuguese companies invested 148.3 million euros, 60 per cent less than the same period last year when investment reached 371.6 million euros. Portugal has now slipped back to the 13th largest investor in the country, dropping five places. Last year, total investment from Portugal in Brazil was 471 million euros, making it the eighth largest foreign investor in that country.