Brazilian startups benefited from UAE ties: Bolsonaro

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Brazilian President Jair Bolsonaro has emphasised that the strengthening of ties between the Federal Government of Brazil and the United Arab Emirates has created an increasing demand for Brazilian startups…reports Asian Lite News

In a series of Tweets on Monday (11/07), Bolsonaro mentioned that an Emirati programme is searching for startups with projects related to energy, water, design, architecture, transport and logistics, environmental analysis or sustainable economy.

The president of Brazil mentioned that the application process for the Sharjah Advanced Industry Accelerator (SAIA) runs until August 16.

He also said that 20 Brazilian startups were selected among candidates that registered for free, and will compete for a prize given to the best projects.

Bolsonaro added that bringing technology-based companies together is a way to reduce the UAE’s economic dependence on the oil and gas sector.

Jair Bolsonaro also stated that Brazilian companies are increasingly being introduced to world markets and concluded that the ease and stimulus for this sector grow in a very positive way inside Brazil with the new legal framework for startups presented by the Federal Government.

The current edition of the Sharjah Advanced Industry Accelerator will come to an end in December.

Last year, the programme received 515 applications from 65 countries.

Economy recovering

Brazil has been coping well with the economic challenges caused by inflation, and the current problems faced by the population “are fleeting”, President Bolsonaro said, defending his government’s economic measures.

The President also highlighted how his government had created an emergency aid program and a program that paid workers from companies that had suspended contracts or reduced wages during the most critical period of the pandemic in 2020, reports Xinhua news agency.

ALSO READ:UAE sustained strong growth momentum through 1H22: OPEC

The country’s inflation index, the National Broad Consumer Price Index, stood at 0.67 per cent of June, with an 11.89 per cent cumulative change in the last 12 months, the Brazilian Institute of Geography and Statistics said.

The central bank has set an inflation target of 3.5 per cent for 2022.

The 8.98 per cent drop in fuel prices in the last three weeks was the result of a new law obliging states to reduce taxes destined to finance the education and health systems, said Bolsonaro.

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