Lula defends industrialization and added value for Brazil's natural resources

Brazilian President Luiz Inácio Lula da Silva defended a policy of industrialization and greater added value for the country's natural resources, speaking today in Sao Paulo in front of over 500 entrepreneurs and professionals gathered by Grupo Esfera.

“This new possibility of wealth that is in our subsoil must be a new passport for the future of this country,” Lula said, referring to rare earths and critical minerals. “It must be mined here, processed here, processed here, industrialized here and sold in the interest of our country,” he added.

Lula underlined that he wants foreign investments, but with technology transfer and development of the national production chain. "I don't want foreign companies to come? I do, but they have to come and work under our command, because we want to have technological knowledge," he said, warning that otherwise Brazil risks "going back to being a mere exporter."

On the technology front, the president championed the development of data centers and a national capability in artificial intelligence. "We have to have our own data centers, because I don't want to be arguing between China and the United States about what artificial intelligence will be. I want ours," he said.

Lula also urged entrepreneurs to invest in industrial growth. “We need to find entrepreneurs who are partners in growing the country, in the things we need,” he said.

On foreign trade, he cited the increase in exports to other markets after the imposition of US tariffs. “China increased purchases by 19%, Indonesia by 15%, Germany by 15% and Vietnam by 13%,” he said, claiming that Brazil increased exports to more than 50 countries by 10.5% and increased its trade surplus from $50 billion to $80 billion.