Lula says will ask Xi, Biden to invest more in Brazil

Brazilian President Luiz Inacio Lula da Silva said on August 11 his country is welcome to receiving investments from other nations to spur growth, as he unveiled a new "growth acceleration" plan with investments estimated at nearly $350 billion.

Lula said in a speech he would ask his Chinese and US counterparts, Xi Jinping and Joe Biden, to invest more in Brazil. He added that European countries were also keen to invest in Latin America, Yahoo reports.

"We must travel the world presenting our projects, trying to sell them," Lula said, adding he would tell the likes of Xi, Biden and leaders of the Arab world "we want more investments in Brazil."

"I'll tell Biden the US has been investing for too long in wars, they also need to think about investing in Brazil."