Brazil investment market is best in the world

US billionaire Sam Zell has said that Brazil could represent the best market for overseas investors in the current financial climate.

Speaking at a business forum in New York yesterday (December 2nd), the chairman of Equity Group Investments explained that Brazil's vast resources and large pool of skilled professionals makes it an extremely attractive option, Reuters reports.

"If you look at all of the facts, I don't think there is a better environment in all the world than Brazil," he said.

Mr Zell added that Brazil has managed to escape the worst effects of the global credit crunch, with confidence remaining in the country's banking and housing sectors.

He revealed that malls owned by Equity Group in Brazil have experienced same-store growth of 12 per cent over the past year.

F&C Asset Management recently stated that Brazilian banks currently have "very solid balance sheets", due to low levels of indebtedness and healthy public sector finances.

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