Brazil bank shopping for Hungarian ideas

On the occasion of this week's Hungary-Latin America Forum in Budapest, Jaime Gornsztejn, Head of the London Office of the Brazilian Development Bank gave an exclusive interview to Diplomacy & Trade about the business opportunities Brazilian companies are looking for in Hungary.

“I am very
pleased to have been invited to this Hungary-Latin America Forum here in
Budapest. It has been a great opportunity to meet not only Hungarian government
officials but also Hungarian businesspeople,” Jaime Gornsztejn told Diplomacy
& Trade.

“We are
very keen to establish contacts and open channels of communication with the trade
promotion agency and the Hungarian Development Bank. I think there is a very
good match between the technology and innovation generated in Hungary and the
market opportunities in Brazil especially in infrastructure. We are very keen
to attract innovation, bring that innovation to the Brazilian economy,
something in which Hungary could be a very good partner.”

The Brazilian
Development Bank (BNDES) is financing projects in Brazil by companies, irrespective
whether they are Brazilian firms or foreign-owned companies established in
Brazil, and also by Brazilian companies overseas. The latter is part of their
international strategy that is why, for instance, a subsidiary in London was
set up in 2009.

“We are
interested in a wide variety of projects, be it infrastructure, green-field projects,
joint ventures with European and Asian companies, acquisitions. Brazilian companies
are usually in very good shape, they have weathered the world economic crisis
well and they are looking for opportunities in the world. This Hungary-Latin America
Forum has been a great possibility to look around and take advantage of that,”
he said.