Lula discusses investments in optic fiber and 5G with Mexican telecommunications entrepreneur

This Friday (19 April) afternoon, President Luiz Inácio Lula da Silva hosted Mexican entrepreneur Carlos Slim, founder and comptroller of the America Móvil Group - Grupo América Móvil (AMX). Known for his activities in telecommunications, Slims has been a direct investor in the sector in Brazil since 2001.

In the conversation, they discussed the expansion of the optic fiber and 5G networks in our country. They also talked about opportunities for commercial partnerships in the telecommunications sector and the improvement of the economic scenario in Brazil.

“It was a wide and interesting conversation. We spoke about the state of the economies, Brazil’s greatly improving, with reduced inflation rates. We talked about our investment plans and our shared interest to continue believing in the country in a significant way”, said Slim. He estimated having invested over R$ 40 billion in Brazil in the last five years; he expects to invest another R$ 40 billion over the next five years, particularly in fiber optics, high-speed internet, and services for citizens and businesses.

The entrepreneur complimented Brazil’s inflation control and strong exports. He argued about the possibility of increased investment in relation to GDP in Brazil and Mexico, highlighting the rise in income and minimum wage in both countries, while also emphasizing the need to expand investments in education.

RECONSTRUCTION - President Lula recalled the international isolation that took over Brazil during the previous administration and how the country managed to return to the global scenario in 2023, being present at the main forums and bilateral meetings with major world leaders.

Lula described the reconstruction process the Brazilian State went through, starting with the constitutional amendment introduced to enable the Government transition (PEC da Transição) and the reinstatement of social programs. He stresses that, in 2024, Brazil will continue to grow more than expected, as happened in 2023, with stability and predictability. He also spoke about the infrastructure investment plans which total BRL 1.7 trillion through the New Growth Acceleration Plan (Novo PAC) in the coming years.

Lula reaffirmed his optimism regarding the future and the development of Brazil and the need to build stronger multilateral institutions capable of dealing with the threats of climate change. These institutions, he said, must provide financing opportunities to poor countries with more favorable conditions to allow them to develop. The President was accompanied by the ministers Rui Costa (Chief of Staff), Juscelino Filho (Communications), and Paulo Pimenta (Presidential Communications Secretariat).