Former Brazilian president Luiz Inácio Lula da Silva is planning to visit Beijing in the coming weeks to seek Chinese investment and semiconductor technology for Brazil’s burgeoning tech industry.
According to sources close to the matter, Lula will meet with Chinese officials and business leaders to discuss the possibility of Chinese investment in Brazil’s semiconductor industry, as well as technology transfers that could help boost Brazil’s domestic tech capabilities.
Brazil has been seeking to establish itself as a player in the global tech industry, with a focus on developing its semiconductor manufacturing capabilities. The country has already attracted investment from major players like Samsung, which announced plans to invest $5 billion in Brazil’s semiconductor industry in 2020.
China, meanwhile, has become a global leader in semiconductor technology, with major players like Huawei and SMIC (Semiconductor Manufacturing International Corporation) dominating the market. Lula’s visit to Beijing is seen as an opportunity for Brazil to tap into China’s expertise in this area and potentially secure investment for its own semiconductor industry.
The visit comes at a time of growing economic ties between China and Brazil. China is already Brazil’s largest trading partner, with bilateral trade reaching $102.5 billion in 2021. Lula’s visit is expected to further strengthen these ties and open up new opportunities for cooperation in technology and investment.
However, there are concerns that increased Chinese investment in Brazil could come at a cost, with some critics arguing that China’s investments in developing countries can lead to debt traps and other forms of economic dependency.
Despite these concerns, Lula’s visit to Beijing is being closely watched by industry analysts and policymakers, who see it as a potential turning point for Brazil’s tech industry and its relationship with China