CloudHQ, one of the world’s leading data center developers, has announced a significant $4.8 billion investment for the Mexico Plan that will lead to the development of six new data centers in Querétaro, Mexico. This large-scale infrastructure plan was confirmed by the Federal Government of Mexico’s Secretary of Economy and the Ministry of Economy. The $4.8 billion data center project will provide six large-scale data centers spanning 52 hectares and is one of the most significant private technology investments in Mexico’s history. “This means jobs with high added value. We are talking about 7,200 direct jobs and 900 indirect jobs that these six data centers will generate in Querétaro,” President Claudia Sheinbaum Pardo said. President Sheinbaum continued to note that, “Mexico is determined to receive large-scale investments of this type that have to do with the new productive specialization and the transformation that is currently underway in the country, whose objective is to move it towards greater productivity, greater capacity to manage and store data, and therefore, also towards greater international competitiveness.” As for the company, CloudHQ’s Chief Operating Officer, Keith Patrick Harney, announced that the six data centers combined will have a capacity of 900 megawatts (MW). The first phase of the project, representing 200 MW, has already been captured with support from the Federal Electricity Commission (CFE) and the National Center for Energy Control (Cenace), with a prior investment of $250 million.

Plans for an AI Future

According to the President of Mexico, this strategic investment in six new data centers will help the country to become one of the most important regional hubs for artificial intelligence, big data, and cloud computing in Latin America. As Sheinbaum said, “the data centers will be the basis for the future in artificial intelligence, they will be what gives us that possibility of an accelerated digital transformation of the country, which will allow us to strengthen automation, intelligent manufacturing, cybersecurity, data analysis, and the great industries of the future, like, for example, artificial intelligence.” The AI- and data-driven future that President Sheinbaum has discussed over the last few years also directly aligns with this Mexico Plan, which enables the country to host digital operations required by the global operations of foreign companies. One of the other factors Sheinbaum has noted for Mexico — and for this $4.8 billion investment — is energy. Sheinbaum has said, regarding the new Mexico Plan for 6 data centers, “It is one of the main factors, both in its availability and in sustainability issues. On this, we are working very closely with CFE and Cenace to provide competitive advantages in energy to companies like CloudHQ, which, as I mentioned, makes it a sustainable operation in that dimension.” Querétaro Governor Mauricio Kuri González, has also been present and noted, in a statement, that federal and local authorities have coordinated efforts to build an infrastructure strategy that will not only support the CloudHQ project but also other technology-related investments across the state. The strategy includes energy distribution, roads, and highways for access, as well as job training programs to connect local workers and communities to the new digital economy. Querétaro is already a target state for foreign investment from global technology companies, and now one of the largest technology clusters in Mexico after hosting the first six data centers of CloudHQ’s Mexico Plan.

CloudHQ’s Sustainability Focus

CloudHQ’s COO also announced their data center plans and the company’s commitment to sustainable development. Harney also noted, during the press event, that the first phase of 200MW has already been locked in with the CFE and Cenace and has been previously invested in with $250 million. The COO then also announced a number of other steps, including water-free cooling systems, along with compliance with the LEED gold and silver standards in the building and development of the six data centers. CloudHQ’s CEO, Pierre Fabre, in a release, noted that this relationship with the Mexican government will be important, saying, “We are proud of our relationship with the President of Mexico, which is already very productive, and we see that today we can work hand in hand for the country’s development.”

Preparing the New Generation

While the infrastructure for data centers and new technologies is important, the Mexican government is also looking for ways to connect and integrate local talent. As the Secretary of Economy, Marcelo Ebrard Casaubon, noted, “The country is not just focused on receiving foreign investment but also preparing Mexico for an economic model in which artificial intelligence plays a relevant role in our daily lives.” The secretary added, “We are talking about the 6G networks, which will take us in the short term, of course, because in the medium term we are going to be much more connected, with artificial intelligence in transport and telecommunications, which is what we see in airplanes, in their trip systems, even in your refrigerator if it is connected to the internet, or in your cell phone with ChatGPT, all of that will require the type of data centers that we are about to build and start operating.” The Ministry of Economy in Mexico has been working with the Secretariat of Public Education (SEP) in preparation and implementation of a training and job placement program for recent university graduates. These training programs will be focused on being able to work, operate, and maintain these types of digital infrastructure developments.

In recent months, Free Trade Zones in Uruguay have expressed their strong opposition to the introduction of the Domestic Complementary Minimum Tax, known as the Global Minimum Tax of 15% that has been proposed in the draft Budget Law for the four-year period of 2025 to 2029. In a formal statement issued by the entity, they affirm that the inclusion of Articles 628 and 662 in the Budget Law would put at risk the stability of the free trade zone regime and consequently, the predictability and legal certainty to which our country is accustomed; it would expose the country to international litigation processes and place Uruguay at a disadvantage with its main competitors in the region.

In this blog post, we want to delve into the points raised by the Chamber in this important debate, analyze the risks and benefits of applying the Domestic Complementary Minimum Tax, and explain why Free Trade Zones continue to be a key pillar of the country’s economic model.

Forty Years Fostering Competitiveness

It is not the first time that Free Trade Zones in Uruguay express their discontent with a measure they deem harmful to the stability of the regime. As stated, the free trade zone framework in the country was defined by the democratic authorities that returned to the country in 1985, as a State policy, meaning a policy that is not meant to change with the incoming governments.

One of the main purposes of the free trade zone regime, then and now, is to contribute to the competitiveness of the country in order to attract and retain high-value investments. The economic value added by the free trade zones can be measured in several ways. According to data from the Chamber of Free Trade Zones in Uruguay, in recent years, they have accounted for approximately 6.6% of GDP, 40% of total exports, and have indirectly created and directly maintained more than 66,000 jobs. But the contribution of the system extends beyond these figures, and it is based on them that they once again call for the stability of this key engine of the economy.

Uruguay has been recognized in recent years as a benchmark for the installation of new operations by international companies, in part because of the appeal and added value of the free trade zone system, through which companies with different business models and aimed at both national and international markets, in industries such as manufacturing, logistics, technology or global services, choose Uruguay as a platform to carry out their operations on a regional or even global scale.

The ecosystem of innovation, technological transfer, and management that they bring to the country becomes key in strengthening human capital and the productive fabric of the country.

On the other hand, the entry of multinational companies into Uruguay and the arrival of foreign professionals who work in them generate a positive multiplier effect on several sectors (housing, education, health, and others) and, with that, also increase economic activity in the country.

But that is not all, as Free Trade Zones claim that Uruguay is not losing revenue with the regime. On the contrary, using data provided by the Chamber of Free Trade Zones of Uruguay, every dollar of tax exemption in free trade zones generates more than seven dollars in added value for the national economy.

In other words, businesses that operate in the country under this regime not only purchase and subcontract nationally (generating income and jobs for Uruguayan suppliers), but they also contribute to the maintenance and improvement of infrastructure and generate additional economic activity in other sectors and with domestic companies that are dependent on export-oriented companies and their needs.

Legal Uncertainty and Contractual Risks

The Chamber’s statement also highlights that, in addition to the reasons mentioned above, the application of the tax, by including the provision of a Domestic Complementary Minimum Tax, would alter legal certainty, one of the values on which Uruguay has built its success in recent decades to attract foreign investment.

Specifically, Article 628 of the draft Budget Law for the period 2025-2029 includes a provision to modify Article 19 of Law No. 15,921, which means that, if approved, the Domestic Complementary Minimum Tax will no longer be subject to the tax exemptions enjoyed by companies with free trade zone authorization.

In this regard, the statement specifically affirms that “neither Article 628 nor Article 662 provides sufficient legal guarantees on the rights of companies with already signed contracts, violating acquired rights and predictability.”

The stability and clarity of the legal framework are not just semantic or technical issues. Companies decide to invest or expand in Uruguay based on these conditions. Any change that endangers this legal predictability can have negative repercussions on the credibility of the country. 

International Disputes

In the statement by the Free Trade Zones in Uruguay, another risk they highlight in the event that the change is approved is that the country would be exposed to international litigation processes, not only with investors that they contract with under free trade zone laws, but also under investment protection treaties.

The fact is that free trade zone contracts as well as investment protection treaties are not exempt from these clauses, and any change that does not respect the legal certainty to which these companies are entitled is exposed to being challenged in international forums.

Uruguay’s Free Trade Zones conclude this section of their formal statement, arguing that in addition to the above risks, the mere announcement of the new tax has already generated adverse publicity abroad, with international investors following developments in the country closely.

Threats to investment and jobs

The position of Uruguay’s Free Trade Zones is that the application of the proposed tax will lead to a reduction in new investment and may even lead to the dismantling of some companies already in the country, which would directly affect jobs, exports, and Uruguay’s competitiveness as a platform to serve the region and the world.

On the other hand, the statement points out that no other country in the region, except for Brazil, has approved the new tax, which means that to apply it now would place Uruguay at a competitive disadvantage within the Latin American region, where countries compete to attract high-quality foreign direct investment.

Does Uruguay have to apply the tax now?

Another argument made in the Chamber’s statement is that Uruguay is under no obligation to apply the new tax in the coming years.

In fact, the entity points out that large countries such as the United States, China, and India have not done so. The fact is that, in June, the G7 countries, which had promoted the measure, agreed to freeze its implementation.

In addition, several European countries that have implemented the tax in recent years have already admitted, in light of their experiences, that they regret having done so due to its negative impact on their economies. The OECD, the intergovernmental body that has promoted this type of measure, has not put pressure on Uruguay to do so either.

In this context, for Uruguay’s Free Trade Zones, the application of the new tax without a strategic purpose would be hasty, precipitate, and unnecessary. On the contrary, it is important to take a prudent approach, monitoring how the international debate on the subject evolves and acting at the appropriate time and when all the technical studies and positions are analyzed.

Free Trade Zones in Uruguay: A Permanent Pillar of Development

The position of Uruguay’s Free Trade Zones on the matter is based on the considerations mentioned above and, in its final paragraphs, reaffirms that free trade zones must remain a permanent pillar of the country’s development. The added value of the industry to the country, in terms of exports, high-quality job creation, and its role in integrating Uruguay into global value chains, has been proven over time.

In that sense, the Chamber of Free Trade Zones of Uruguay asks the National Parliament to eliminate Articles 628 and 662 of the 2025-2029 Draft Budget Law so that, together, they can preserve employment and competitiveness and Uruguay’s reputation in the region and the world. And it warns that protecting the stability of the free trade zone system is the only way to continue to have credibility and continue growing in the coming years.

At the 20th Industrial Congress, President Bernardo Arévalo reaffirmed that sustainable industrialization is the strategic path to transforming Guatemala’s economy and ensuring inclusive, modern, and resilient growth. His message emphasized that Guatemalan development depends on aligning economic progress with environmental preservation, institutional transparency, and social inclusion—a balance he considers fundamental for long-term prosperity.

A Vision for a New Economic Model

Addressing representatives of the private sector, the president called for the construction of strong alliances to advance toward a productive model that combines economic growth with social and environmental responsibility. Arévalo stressed that Guatemalan development cannot be achieved through economic expansion alone; it must also foster equitable access to opportunities, sustainable resource management, and robust governance.

“Working for political certainty and the recovery of justice institutions is the best contribution to the economic and social development of our country,” Arévalo stated. He underlined that legal and institutional stability is a prerequisite for attracting investment, promoting innovation, and generating quality employment. Without a reliable judicial system, he argued, neither foreign nor domestic investors can feel confident that their rights will be protected.

Public-Private Collaboration for Shared Prosperity

The president emphasized that his administration does not seek to compete with the private sector, but rather to complement it. “We want those who undertake, risk their capital, and bet on Guatemala to have clear rules and institutional support,” he explained. For Arévalo, the partnership between government and industry is essential to achieving the shared goal of Guatemalan development based on sustainability and productivity.

In that regard, he underscored that the State must play an active role as a facilitator of development, creating favorable conditions for businesses to thrive and contribute to collective well-being. This includes streamlining bureaucratic processes, enhancing legal transparency, and ensuring access to infrastructure and financing.

Modernizing the State: Efficiency and Digital Transformation

One of the central themes of Arévalo’s address was the need to modernize the state apparatus to make it more efficient, transparent, and accessible. He reported that 70% of administrative procedures across 14 government agencies have already been digitized, simplifying 444 processes that once required in-person visits and extensive paperwork.

By June 2026, more than 860 procedures are expected to be available electronically. According to Arévalo, this digital transformation is a cornerstone of Guatemalan development, as it reduces bureaucracy, cuts operational costs, and accelerates productive activities. “We want citizens and entrepreneurs to interact with the State through agile, modern, and reliable systems that reflect efficiency and trust,” he said.

This modernization agenda is also aimed at reducing corruption and discretionary practices within public administration, thereby strengthening institutional credibility and efficiency.

Strong Economic Indicators Signal Confidence

On the economic front, Arévalo presented figures reflecting a positive and stable performance. Real Gross Domestic Product (GDP) grew by 3.7% in 2024, while public debt remains at just 27% of GDP—one of the lowest ratios in Latin America. He highlighted that such fiscal discipline reinforces investor confidence and provides a solid foundation for financing long-term projects tied to Guatemalan development.

Additionally, foreign direct investment reached USD 476 million in the first quarter of 2025, while domestic investment increased by 12.8%. “All rating agencies have raised Guatemala’s outlook to stable and positive,” he added. These indicators suggest that confidence in the country’s economic direction is strengthening, particularly in sectors such as manufacturing, renewable energy, and technology.

Infrastructure: The Backbone of Industrial Growth

Arévalo also discussed infrastructure as a decisive factor for advancing sustainable industrialization. He noted that his government has prioritized public investment in social and productive projects—including hospitals, schools, housing, and transportation networks—to improve the quality of life and boost competitiveness.

Infrastructure expansion, especially in logistics corridors and port facilities, is expected to strengthen Guatemala’s regional integration and make it an attractive destination for manufacturing and export-oriented investment. “Connectivity is vital for industrialization. Every kilometer of road, every school built, every hospital opened is an investment in Guatemalan development,” he stated.

He further highlighted the international support the government has received, including assistance from the U.S. Army Corps of Engineers to modernize key equipment and institutions that underpin national infrastructure projects.

The Challenge of Justice and Governance

However, Arévalo acknowledged that achieving sustainable development requires confronting Guatemala’s deep-rooted structural challenges—chief among them, corruption and impunity. Although the homicide rate has been cut in half since 2010, he warned that these advances are at risk due to the continued weakening of the judicial system.

“Since 2017, certain mafias have taken over key institutions, diverting their functions to protect private interests,” he denounced. To reverse this trend, the president called for ensuring transparent processes in the selection of authorities such as the Attorney General, the Constitutional Court, and the Supreme Electoral Tribunal. “We are in a battle between the decent people of Guatemala and corruption and impunity,” he declared.

Restoring the rule of law, he said, is not only a moral imperative but also an economic one. A strong, impartial judiciary guarantees investor security and lays the groundwork for sustainable Guatemalan development that benefits all citizens, not just a few.

A Collective Commitment to the Future

The 20th Industrial Congress reaffirmed itself as a space for open dialogue between the government and the productive sector. Arévalo’s message underscored that sustainable industrialization is not merely an economic objective but a comprehensive national strategy requiring unity, transparency, and a long-term vision.

He called upon all sectors—public institutions, businesses, academia, and civil society—to work collaboratively in designing an industrial ecosystem that encourages innovation, respects the environment, and generates shared prosperity. “Guatemala has the potential to be a competitive, fair, and prosperous country. But to achieve it, we must work together,” he concluded.

In the broader context, Arévalo’s speech represented a call to action: to build a new chapter of Guatemalan development founded on sustainability, justice, and cooperation. His administration’s goals aim not only to increase productivity but also to create the social and institutional conditions necessary for lasting progress—ensuring that every advancement in industry contributes to a more equitable and resilient Guatemala.

In his presentation on the transformation of global supply chains in 2025, supply chain expert Jim Tompkins discussed Panama’s potential as a pivotal digital command center. “Panama must now pivot from a regional logistics hub to a hemispheric digital nerve center,” Tompkins noted at the Supply Chain Forum 2025. “At a historic juncture, Panama is prepared to emerge as the digital command house for supply chains throughout the hemisphere, going beyond traditional freight corridors and container ships into a data-driven network of intelligent logistics,” he added. Tompkins’ keynote speech at the annual industry event in Panama City, attended by over 700 executives, emphasized Panama’s unique position to lead the digitalization of supply chains. The country’s ideal location, cutting-edge logistics, and bi-oceanic connectivity give it a significant advantage, and with the right innovations, it can attract global digital partnerships.

The Next Step: Digital Control Tower for Supply Chains

Jim Tompkins went on to say that the next step for Panama was not merely physical infrastructure but a transition into a control tower for digital supply chains. By serving as a global command house, data networks, and analytics, Tompkins added that the country could coordinate trade flows to leverage its strategic position in the Western Hemisphere. The central theme of his address was that data has the potential to replace barrels of oil as the most valuable commodity. The success of any supply chain in the near future would be determined by the quality of automation and data analytics. In this scenario, Panama has the chance to become a smart gateway and transform into a reliable node for global digital commerce. If successful in its digital strategy, Panama, as a digital hub for supply chains, could shift trade to connect the entire Western Hemisphere, surpassing its historic role as merely a connector of oceans.

Five Forces to Build Panama as a Digital Hub for Supply Chains

In his comprehensive assessment of the factors that will affect Panama’s ability to achieve this ambition in 2025, Jim Tompkins identified five main advantages. First, the country’s geographic location already places Panama in the heart of major trade lanes that interconnect Latin America, the Caribbean, the United States, and the rest of the world. As the Panama Canal interconnects 140 maritime routes to more than 1,700 ports in 160 countries, its ability to offer unparalleled connectivity between Asia, Europe, the U.S., and Latin America is only second to its natural geographic advantage. Second, it has one of the most advanced multimodal infrastructures in the world, with facilities such as the Colon Free Zone, the Panama Canal Railway, and Tocumen International Airport offering seamless integration of sea, air, and land transport. Third, Panama has a track record of political and economic stability, which has always been an important factor in attracting investors, thanks to dollarization of the economy and pro-business legislation. Fourth is the growth of new generations of digital talent with advanced degrees in data science, logistics engineering, software development, and other disciplines that are critical to driving digital supply chains. Lastly, Tompkins emphasized that sustainability is an essential component of the nation’s long-term vision. As major companies continue to prioritize environmental and social responsibility, Panama’s commitment to renewable energy, green certifications, and circular economy principles will be increasingly important.

Panama’s Strategic Advantage

Jim Tompkins suggested a comprehensive framework to help Panama take the next leap toward becoming a global control tower, which would place the country’s expertise in logistics and its strategic geographic position at the heart of global trade. According to Tompkins, if Panama, as a digital hub for supply chains, invests in technology, talent, and regional collaboration, it could achieve its goal of becoming the world’s command house for supply chains. This would involve more than just physical infrastructure; digital ecosystems connecting ports, airports, logistics hubs, and corporate offices through common data platforms will be required. This next-generation global management system will allow real-time data analysis and decision-making, with the Panama Canal serving as a literal and figurative information highway. Panama, as a command house for supply chains, would be capable of monitoring trade movements across continents, proactively identifying issues, and proposing solutions using advanced AI systems. Analytics platforms would be able to anticipate disruptions by using artificial intelligence to track weather patterns, monitor political risks, and even read consumer trends from social media in order to manage supply networks more intelligently.

Collaboration is Key to Regional Alliances

Jim Tompkins recognized the value of regional integration in this process, with the Dominican Republic seen as a potential partner in a similar fashion to Panama as a digital hub for supply chains. By synchronizing operations with the neighboring country, goods could be delivered to the U.S. East Coast and beyond more quickly. Dominican Republic, by acting as an e-commerce hub, would also bring more competitive power to the Panama Canal in a trade corridor that would connect North America to the Caribbean, Central America, South America, and beyond. In addition to physical investments, the government and corporate sector in Panama would be well advised to invest in a public-private framework in which governments, corporations, academic institutions, financial services, and chambers of commerce collaborate to lay the groundwork for a fully digital ecosystem. Such ecosystems are built on shared standards and principles, and they are designed to last. This would require leadership and a shared vision from all sectors of society, as well as a willingness to accept new ideas. This public-private partnership and collaboration would be the cornerstone of a broader vision for Panama as a digital hub for supply chains, providing a level of trust and transparency that would make it the region’s most reliable command house for supply chains.

Uncertainty: The Top Risk for Supply Chains in 2025

In Tompkins’ opinion, uncertainty is the number one risk for supply chains in 2025. While geopolitical risks, market volatility, and cyber threats continue to threaten supply chains, climate-related disruptions such as hurricanes, floods, and rising seas are also a problem. A digital command house in Panama would address these uncertainties in several ways, giving businesses more control, foresight, and visibility over their operations. Panama, as a digital hub for supply chains, would act as a catalyst for digitization, bridging the gap between the analog and digital world to provide global corporations with more certainty. With real-time data monitoring, companies will be able to anticipate interruptions, adapt to market changes more rapidly, and keep consumer satisfaction high. In conclusion, Tompkins suggested that Panama as a digital hub for supply chains has the potential to go beyond just leadership in shipping lanes, supply networks, and technology and transform into a reliable node for global digital commerce. If successful in its digital strategy, it could shift trade in the Western Hemisphere.

Tax havens rank among the main sources of investment

The latest Foreign Capital Census from the Central Bank of Brazil (BC), released in Brasília, provides a detailed overview of the origin and distribution of direct investment in Brazil. According to the report, the United States — which in August imposed tariffs of up to 50% on Brazilian exports — remains the largest source of productive capital entering the country.

In 2024, the total stock of foreign direct investment in Brazil reached USD 1.141 trillion, equivalent to 46.6% of the Gross Domestic Product (GDP). This represents the highest share ever recorded in Brazilian economic history and underscores the country’s growing relevance as a destination for foreign capital. The result reflects the continued interest of international companies in entering the Brazilian market, which offers a combination of scale, sectoral diversity, and growth potential.

Composition of Foreign Investment

The Central Bank classifies direct investment in Brazil into two main categories. The first corresponds to participation in the equity capital of national companies, totaling USD 884.8 billion — the most significant portion of total investment. This amount is distributed among roughly 19,000 companies with foreign ownership. The second category, amounting to USD 256.4 billion, refers to intercompany operations, meaning loans made between subsidiaries and their parent companies abroad.

These figures show that direct investment in Brazil is not limited to stock purchases or speculative capital flows. It is strongly tied to productive activities, technology transfer, job creation, and integration into global value chains.

The United States Leads the Way

When examining the origin of the USD 884.8 billion invested in the equity of Brazilian companies, the United States stands out as the single largest investor, with USD 244.7 billion — approximately 28% of the total. The strong U.S. presence reinforces the historic economic ties between the two nations. It highlights the Brazilian market’s importance to multinational companies in the technology, energy, financial services, and manufacturing sectors.

Following the U.S. are the Netherlands (USD 145.5 billion, or 16%), Luxembourg (USD 79.2 billion, or 9%), France (USD 63.3 billion, or 7%), and Spain (USD 61.0 billion, or 7%). The United Kingdom, Japan, Germany, Canada, and the Cayman Islands complete the top ten.

This concentration demonstrates that direct investment in Brazil primarily comes from developed economies, especially European countries, which use their financial centers — often located in tax havens — as gateways for investment flows.

The Role of Tax Havens

Fernando Rocha, head of the Statistics Department at the Central Bank, explained that the list reflects the country of the “immediate investor,” that is, the location from which the funds directly originated. However, this approach does not always represent the country that ultimately controls the capital.

“Often, a foreign company has its origins in one country but maintains its headquarters in another for tax reasons,” Rocha explained. “These are the so-called tax havens, places where companies send their funds and centralize their financial operations because they pay fewer taxes. From there, the money flows into Brazil.”

This dynamic explains why Luxembourg and the Cayman Islands appear among the primary sources of investment, even though they do not have major industrial economies. Indeed, when the Central Bank identifies the controlling country — the one that ultimately owns the investments — the ranking changes.

Final Controlling Countries of Investment

When the Central Bank analyzes direct investment in Brazil by controlling country, the United States remains in the lead, with USD 232.8 billion (26% of the total). France ranks second, with USD 69.3 billion (8%), followed by Uruguay (USD 58.4 billion, or 7%), Spain (USD 50.0 billion, or 6%), and the Netherlands (USD 48.6 billion, or 5%).

Uruguay’s position is noteworthy, as the neighboring country serves as a regional financial and logistics hub for international firms operating in Brazil. The strengthening of economic ties with these nations demonstrates that Brazil’s business environment remains attractive despite challenges such as tax complexity and regulatory bureaucracy.

Sectors That Attract the Most Foreign Capital

The Central Bank’s data also reveal which sectors of the Brazilian economy attract the most direct investment in Brazil. The services sector leads by a wide margin, accounting for 59% of total investment, followed by industry (29%) and agriculture and mineral extraction (12%).

Among specific activities, financial services and related operations take first place, with 22% of all foreign investment. They are followed by oil and natural gas extraction (8%), trade excluding vehicles (7%), electricity, gas, and other utilities (5%), and the chemical and automotive industries (each with 4%).

These figures reflect the growing importance of Brazil as a destination for long-term investments in strategic sectors, particularly infrastructure, clean energy, and industrial technology.

The Profile of U.S. Investments

The Central Bank’s data also identifies where American investors channel their capital. For the United States, as the final controlling country, 25% of investments are concentrated in the manufacturing industry — which transforms raw materials into finished or intermediate products — and 22% go to financial, insurance, and auxiliary service activities.

This distribution indicates that U.S. interest in Brazil extends well beyond financial speculation. American capital contributes significantly to strengthening Brazil’s industrial and technological base, as well as modernizing the national financial system.

Conclusion: Brazil Remains a Key Destination for Global Investors

The Central Bank’s report confirms that direct investment in Brazil remains strong, diversified, and concentrated in strategic sectors. Despite global trade tensions and market volatility, the country continues to stand out as one of the most attractive emerging economies in the world, benefiting from a dynamic domestic market, abundant natural resources, and a well-established industrial base.

With record levels of investment and an increasing focus on production and innovation, direct investment in Brazil represents not only a vital source of financial resources but also a powerful driver of economic development, job creation, and technological modernization.