Blog: BRIC markets remain hot topic of conversation
Dean Best | 10 April 2008
The future strength of the BRIC markets has been the key topic of discussion in Barcelona today (10 April).
During day two of the World Retail Congress, we have heard some of the leading players in the Indian and Chinese retail sectors talk up the prospects for growth in those markets for both domestic and international retailers.
Of the four BRIC markets, Russia, India and China attract thousands of column inches in the business press, with analysts and industry very bullish in their forecasts for growth, with consumer spending all three markets soaring.
This morning, however, it was the turn in the spotlight of the boys from Brazil.
Ivan Ramalho, a trade minister in the Brazilian government, extolled Brazil’s virtues as a market ripe for foreign investment.
Ramalho, no fewer than three times, told an audience of hundreds of retail executives that Brazil was “open” to more and more investment from multinational retailers. The minister also made a point – more than once – of saying that Brazil did not have the heavy regulation that some other emerging markets have as a possible obstacle to foreign investment.
“The Brazilian market is very open; we do not have regulatory restrictions and the Brazilian government is promoting a business environment in the country,” Ramalho said.
The obvious inference was to Brazil’s BRIC stablemate, India, where restrictions on direct foreign investment remain.
Will Brazil’s apparent pro-business policy prevail against more conservative environments?
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