In sharp contrast to Singapore, Brazil is a huge country. It has vast natural resources, advanced technologies and 170 million people. Besides having a very long coastline, Brazil is strategically located in close proximity to the oil and gas production centres of the Atlantic, the Gulf of Mexico and the West African regions. It also has an indigenous oil and gas industry of its own that is known to be a leader in deepwater oil and gas business. Thus, the factors are ideal for the growth of the marine industry here.
Brazil has the skills base, a large market in the region and conducive economic situation.
I applaud the Brazilian Government s effort to support and revitalise the local marine and offshore construction industry. I was informed of the quick progress that has been made in revitalising the shipyard there by another Singapore company. I am confident that this can be replicated here in Niteroi where the skills are also abundant. When Jurong Shipyard was invited to come to Brazil, the Company, with its years of association with Brazilian companies, was delighted and proud to accept. This is the beginning of stronger economic ties between our two countries.