Cláudio Castro,
Governor of the State of Rio de Janeiro
Governor of the State of Rio de Janeiro
In his interview with the “Eurasian Dialogue,” Cláudio Castro, Governor of the State of Rio de Janeiro, notes the achievements of his administration and emphasizes that the State is expecting a new growth cycle and innovative solutions.
The state of Rio de Janeiro, undergoing major changes and experiencing economic growth, is strengthening its position as one of the main investment centers in Latin America. With an increasingly dynamic, competitive and attractive business environment, and a growing influx of tourists, it has become a venue for major international events which offers new opportunities for investors and entrepreneurs worldwide.
The state of Rio de Janeiro, undergoing major changes and experiencing economic growth, is strengthening its position as one of the main investment centers in Latin America. With an increasingly dynamic, competitive and attractive business environment, and a growing influx of tourists, it has become a venue for major international events which offers new opportunities for investors and entrepreneurs worldwide.
– Mr. Castro, what do you think makes Rio de Janeiro so attractive to investors?
– Our administration is committed to promoting Rio de Janeiro’s sustain-able social and economic growth by modernizing governance approaches, pursuing sound fiscal and effective public policies, as well as a strategic vision for the future, so ensuring legal certainty and economic stability.
– What can you say about Rio de Janeiro’s investment portfolio?
– Rio de Janeiro progressively continues to set records in the number of new companies and the expansion of existing ones, reflecting the industrial sector’s confidence in the State’s management methods. In 2024 alone, we attracted more than BRL 100 billion (about USD 18 billion) in private investments across more than 76,000 new officially registered businesses, generating jobs and increasing income. Last year, for instance, we secured investments from many leading companies, including Stellantis, one of the world’s largest automobile manufacturers. Another great economic achievement for the State was the growth in GDP. It increased by 4.7 % in 2022, surpassing the BRL 1.15 trillion mark for the first time and reaching BRL 1.15 trillion (about USD 207 billion). This economic recovery is bolstering government revenues and strengthening the State’s economy.
– Is foreign trade another strategic pillar of the State’s development?
– For several consecutive years, the State has enjoyed a trade surplus, primarily driven by exports of oil, natural gas, chemical and metallurgical products. In the first month of the year, its trade turnover was USD 5.6 billion, with 3.3 billion at-tributed to exports and 2.3 billion to imports. Developing port infrastructure and modernizing logistics are funda-mental to the competitiveness and expansion of the State’s companies in the global market.
-How is the government implementing the principles of green economy?
– Our administration is focused on seeking sustainable development which integrates economic growth, social inclusion, and environmental protection. Rio de Janeiro plays a leading role in Brazil’s oil (84 %) and gas (73 %) production and has great potential in renewable energy. The State’s government is firmly committed to the energy transition and is promoting initiatives to stimulate investment in renewable and clean energy. In doing so, it strengthens its position as a leading actor in the country’s energy diversification.
– You once mentioned that sustain-able economic development implies public safety. What is the connection between the two?
– We are investing heavily in strengthening the State’s security forces, modernizing equipment, and deploying police intelligence to ensure that investors are safe to expand their businesses and that the population is free to take advantage of emerging economic opportunities. While I was governor, more than BRL 4 billion (USD 720 million) have been invested in public security to obtain cutting-edge equipment, such as facial recognition systems, body- worn cameras for police officers and vehicles equipped with on-board computers. Moreover, we’ve also established the Integrated Command and Control Center which coordinates all police operations.
– Our administration is committed to promoting Rio de Janeiro’s sustain-able social and economic growth by modernizing governance approaches, pursuing sound fiscal and effective public policies, as well as a strategic vision for the future, so ensuring legal certainty and economic stability.
– What can you say about Rio de Janeiro’s investment portfolio?
– Rio de Janeiro progressively continues to set records in the number of new companies and the expansion of existing ones, reflecting the industrial sector’s confidence in the State’s management methods. In 2024 alone, we attracted more than BRL 100 billion (about USD 18 billion) in private investments across more than 76,000 new officially registered businesses, generating jobs and increasing income. Last year, for instance, we secured investments from many leading companies, including Stellantis, one of the world’s largest automobile manufacturers. Another great economic achievement for the State was the growth in GDP. It increased by 4.7 % in 2022, surpassing the BRL 1.15 trillion mark for the first time and reaching BRL 1.15 trillion (about USD 207 billion). This economic recovery is bolstering government revenues and strengthening the State’s economy.
– Is foreign trade another strategic pillar of the State’s development?
– For several consecutive years, the State has enjoyed a trade surplus, primarily driven by exports of oil, natural gas, chemical and metallurgical products. In the first month of the year, its trade turnover was USD 5.6 billion, with 3.3 billion at-tributed to exports and 2.3 billion to imports. Developing port infrastructure and modernizing logistics are funda-mental to the competitiveness and expansion of the State’s companies in the global market.
-How is the government implementing the principles of green economy?
– Our administration is focused on seeking sustainable development which integrates economic growth, social inclusion, and environmental protection. Rio de Janeiro plays a leading role in Brazil’s oil (84 %) and gas (73 %) production and has great potential in renewable energy. The State’s government is firmly committed to the energy transition and is promoting initiatives to stimulate investment in renewable and clean energy. In doing so, it strengthens its position as a leading actor in the country’s energy diversification.
– You once mentioned that sustain-able economic development implies public safety. What is the connection between the two?
– We are investing heavily in strengthening the State’s security forces, modernizing equipment, and deploying police intelligence to ensure that investors are safe to expand their businesses and that the population is free to take advantage of emerging economic opportunities. While I was governor, more than BRL 4 billion (USD 720 million) have been invested in public security to obtain cutting-edge equipment, such as facial recognition systems, body- worn cameras for police officers and vehicles equipped with on-board computers. Moreover, we’ve also established the Integrated Command and Control Center which coordinates all police operations.
– Rio de Janeiro became the world’s capital for the G20 Summit. Do you think the Summit helped solidi-fy the State’s position as one of the main venues for major international events?
– Absolutely. It is also the permanent venue for numerous congresses and trade fairs, not to mention the New Year’s celebrations. This year alone, the capital’s budget got BRL 3.2 billion (about USD 576 million). These festivities not only boost the local economy, but also reinforce the State’s international status as a vibrant business, cultural and innovation powerhouse. Likewise, the State’s government has made the largest investment in history for the Carnival, the greatest show on Earth. Top samba schools received BRL 40 million (about USD 7.2 million), and the city anticipates a financial gain of BRL 17.4 mil-lion (some USD 3.1 million), and the State—around BRL 22.4 million (some USD 4 million).
– And finally, what about investments in tourism, one of the key sectors of Rio de Janeiro’s economy? – Tourism, as one of the State’s main sources of revenue and a major driver of economy, is also experiencing significant growth. The State boasts a unique variety of attractions, from the world-famous beaches and cultural highlights of Rio de Janeiro to the untamed beauty of the coast and mountains. In 2024 alone, we attracted more than 1.5 million tourists from all across the globe, generating new jobs and boosting business growth in various segments of the sector.
– Absolutely. It is also the permanent venue for numerous congresses and trade fairs, not to mention the New Year’s celebrations. This year alone, the capital’s budget got BRL 3.2 billion (about USD 576 million). These festivities not only boost the local economy, but also reinforce the State’s international status as a vibrant business, cultural and innovation powerhouse. Likewise, the State’s government has made the largest investment in history for the Carnival, the greatest show on Earth. Top samba schools received BRL 40 million (about USD 7.2 million), and the city anticipates a financial gain of BRL 17.4 mil-lion (some USD 3.1 million), and the State—around BRL 22.4 million (some USD 4 million).
– And finally, what about investments in tourism, one of the key sectors of Rio de Janeiro’s economy? – Tourism, as one of the State’s main sources of revenue and a major driver of economy, is also experiencing significant growth. The State boasts a unique variety of attractions, from the world-famous beaches and cultural highlights of Rio de Janeiro to the untamed beauty of the coast and mountains. In 2024 alone, we attracted more than 1.5 million tourists from all across the globe, generating new jobs and boosting business growth in various segments of the sector.