Pinheiro Neto, the largest and most traditional law firm in São Paulo, finds itself at the heart of major corporate transactions in Brazil, often assisting multinational companies investing in the country. However, in conversations with colleagues abroad, the firm’s CEO, Fernando Meira, has been receiving an uncomfortable response when inquiring about how clients from these offices view Brazil.
Lately, the unanimous response has been: “Brazil is no longer on the radar.” According to Meira, while Brazil holds enormous potential, it will remain the “country of the future” unless there is a national project agreed upon by the political and business elites.
Meira emphasized the importance of providing investors with predictability, stability, and security, qualities he believes Brazil currently lacks. He stated, “There is zero legal certainty, with rules changing all the time.” Meira expressed concerns that Brazil’s chronic issues are causing the country to miss out on global opportunities.
The legal expert highlighted the need for a national vision that combines capitalism with social responsibility and addresses historical shortcomings. Meira stressed the importance of combating corruption, upholding fiscal responsibility, and fostering a serious approach to necessary discussions.
When asked about the lack of international interest in Brazil, Meira noted that the country has been losing its strategic position in recent years. While existing foreign investors continue to hold onto their investments, new investors have largely turned away due to the challenges of navigating Brazil’s regulatory environment.
Meira also highlighted the global discussions around artificial intelligence and its impact on the future, contrasting it with Brazil’s focus on political figures and economic issues. He expressed frustration at the country’s failure to engage in crucial global conversations and implement necessary reforms.
Overall, Meira’s insights shed light on the urgent need for Brazil to establish a clear national vision that prioritizes stability, predictability, and legal security to attract much-needed investment and ensure its competitiveness in an ever-evolving global landscape.
