Amec’s representatives make suggestions on measures to leverage investments in Brazil to the Ministry of Mines and Energy
On June 2nd, the Minister of Mines and Energy, Fernando Coelho Filho, received representatives of the capital market to listen to suggestions on how to drive investments to the energy and mining areas. The Association of Capital Market Investors (Amec) gathers 57 domestic and foreign investors responsible for investing approximately BRL 400 billion in the several segments of the Brazilian economy.
The representatives endorsed the previously announced decision of the Ministry of Mines and Energy (MME) designed to improve the governance of the Electric Sector Monitoring Commission (CMSE) through the adoption of new rules. The Commission will have a new statute focused on ensuring more transparency to the decisions taken by the Ministry, strengthening the sector’s bodies and entities.
According to the executives, the energy and mines sector has a remarkable capacity to attract important investments to the country, whether through the participation in the companies’ capital or financing projects, what can represent an alternative to the credit via the BNDES (the Brazilian National Bank for Social and Economic Development). Such investments can help start recover the country’s development, with the subsequent creation of new jobs and increase in tax collection.
To give more transparency to governmental decisions and improve the governance in fully and listed state-owned enterprises were among the topics defended by Amec’s representatives as key to attract investments. The two topics are in line with the view of the Ministry of Mines and Energy, such as the choice of directors based on the principle of meritocracy.
“Besides forming a good team, we have been focusing on listening to good people. In addition to taking a number of actions to overcome challenges, we want to start this transition to drive the country’s economy,” the minister stated during the meeting.
To improve the current model, Amec also advocates greater regulatory stability and simpler measures for the energy and mines sector. For those responsible for managing it, complex models represent higher costs.
The meeting with Amec is part of the Ministry’s initiative to maintain an open dialogue with the several agents in the sector to learn about their proposals and receive suggestions.
Source: Social Communication Advisory Services
