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- 2. Brazil : the BRIC for Kingston invest in Painel: Estratégias de Desenvolvimento para a Cadeia de Semicondutores no Brasil (Panel: Strategies of Development for the Chain of Semiconductors in Brazil) Flávia Egypto/APEX Henrique Miguel/MCTI José Ricardo Sales/MDIC Ricardo Martins/ABDI Ricardo Rivera/BNDES São Leopoldo, 19 de outubro de 2011
- 3. Agenda 1. Brazilian IC Market 4. Taxes Incentives 5. Financial Support 6. Investment Support 2. Brazilian IC Envoirenment Agenda 3. R,D&I Incentives
- 6. A high potential semiconductor and memory market… Information Technology Telecom Consumer electronics cce Transportation & Auto Parts Local Manufacturing and/or R&D Operations 4th largest market in Cell Phones - More than 210 million cellphones in the Brazilian market 4th largest market in Automotive 3rd largest market in Computers (behind US and China in 2011) 55 M households with TVs (12 M with cable TV) Market Size (world comparison) 3.6 M vehicles manufactured in 2010 (world #6) 11 M TV units manufactured in 2010 Non-exhaustive 60 M cell phones manufactured in 2010 (47 M sold) 14 M computers in 2010 Automation & Medical Equipment 2nd largest market in ATMs and 5th largest in Medical Equipments
- 9. Industrial Policy and Market response - Recent Timeline Project in Minas Gerais State: Foundry (US$ 500 M) ‘ 99 ‘ 05 ’ 09 ‘ 03 ’ 10 ‘ 07 ‘ 11 Government Efforts Market Response IC Brazil Program Launch Industrial Policy (PITCE ‘03-’07): IC became top priority PADIS: Specific law for IC Industrial Policy (PDP ‘08-’10): IC remains top priority Industrial Policy (PDP ‘11-’14): IC remains top priority SMART S.Paulo start of production in Brazil: M Memory Freescale start-up in Brazil Hana Micron JV with Teikon: BACK-END IC Brazil: 21 DHs - 500 designers CEITEC - R. G. Sul Foundry start of production SMART Start of production: BACK-END Gemalto : investment announcement : BACK-END
- 13. Brazil Package of Incentives for R,D&I Taxes Incentives Funding and Grants Fellowships State & City Incentives IT Law Innovation Laws 10.973/04, 11.196/05, 11.774/08 IC & Displays Law (PADIS, 11.484/07) FINEP + + Federal Fellowships SIBRATEC BNDES IP Protection
- 14. Institucional Consolidation of the National S,T&I System INVESTMENT STRONG INTERACTION Universities Technology Institutes R&D Centers Technology Institutes R&D Centers IDEA START UP INVESTMENT IDEA START UP INVESTMENT IDEA START UP
- 23. BNDES: Financial Support for all kinds of IC Business Models Financing + Equity Fabless DH DF ATS Fabless IDM Fabless Customer Service Back End Front End Design Conception 4 1 2 3 5 Components Supply Chain - ICs OEM IDM IDM IDM IDM
- 24. BNDES: Financing + Equity for any company size Stocks and Debentures Private Equity Funds Venture Capital Funds Emerging Companies IPO Lines, Products and Programs Financing + Equity, Funds and Capitalization Machinery and equipment Exports Innovation Business Enterprise Projects Industrial Projects MSME Environmental Responsibility … Equity Best Conditions! Financing : Company R&D activities Grants (FUNTEC): R&D activities through local R&D Institute Capital Market Start-Ups Seed Capital Early Stage Mature Companies
- 27. Apex-Brasil: Investment attraction Export Promotion Investment Attraction Internationalization Support
Notes de l'éditeur
- We’ll try to address the main questions you might have concerned to “why should I move my activities to Brazil?” and how we intend to “establish a world class semiconductor cluster” in our country. (click) Mr. Rivera, from the Brazilian Development Bank, will sum up some key economic and business aspects and present numbers for the semiconductor potential market. (click) He will make room for Mr. Miguel, the coordinator of our industrial policy for IC, who is going to show the priority given by our government for the industry, the strong package of taxes incentives, what policies and training programs are empowering our designers with more than up-to-date skills, and also the legal basis for IP protection. (click) Mr. Rivera will finish the talk showing how financial support can be provided through possible business models for IC investments.
- Brazil has always been seen as the country of the future. We experienced, probably, the fastest industrialization and urbanization process and one of the highest growth rates in the last century. The oil crisis in the 70s and a subsequent erosion on the Balance of Payments, combined with hyper inflation, resulted in an economic slowdown during the 80’s and 90’s. During this period, Brazil consolidated its democracy and institutions, and returned to sustainable growth over the last decade, with no macroeconomic imbalances and a lean and healthy financial system. The country is about to become the 5th largest economy in the world until 2015, according to EIU, PWC and IMF Well-targeted social policies has created a positive feedback in the growth process that is responsible for reducing, year by year, our unemployment rate and poverty. I’d like to call your attention to the fact that the upper and middle classes has become 70% of our population. Along with the demand booming, great private and public investment perspectives are on track. The Government program for infrastructure development (known as PAC), as well as the recent discovery of giant oil & gas reserves and the significant sporting events like World Cup Soccer in 2014 and the Olympic Games in 2016, are all examples of investments that account for 890 Billion dollars over the next 4 years. It is also important to say that we do not restrict capital remittance, which reached more than US$ 100 billion dollars over the last 4 years.
- This scenario is calling the attention of executives all over the world, placing Brazil as the 3rd priority host for investments in the same period. With an open and highly diversified economy, strong internal demand and great investment perspectives, Brazil has continuously reduced the risk perception in the market – as shown by the chart below in this slide: it is now safer to invest in Brazil than in most emerging markets Multinationals that have investments in Brazil are aware of this movement and consolidating their presence through R&D centers. IBM and GE have recently announced relevant investments that are aiming to take advantage of local opportunities in fast growing sectors in Brazil, in order to create global R&D platforms in these Industries.
- Brazil has a considerable market for electronics. We are within the 4th largest market for computers, TVs, cell phones, automotives and ATMs; In terms of IC consumers, we are also well positioned: local manufacturing and R&D operations of electronic based industries create multiples opportunities in IC design for Brazilian and foreign companies.
- Despite of having three Presidents since 99, when the IC Brazil Program was established, Brazilian governors and congress’ men have made the best efforts to create an environment to attract foreign investment and develop a local semiconductor industry in Brazil. I call your attention to the fact that up to 2014 it is still going to be a priority; In this period, …
- Mr. Alem has shown how our economy has become not only fast growing, but also resilient. He also presented the great perspectives of our microelectronic market. In order to organize and boost efforts, in 2008 we established an Industrial Policy, electing Microelectronics as a strategic area, with specific goals related to fostering DHs and Manufacturing capacity in Brazil, as presented by Mr. Miguel. Brazil has worked to create a strong legal basis to stimulate the IC Industry, as shown by Mr. Ricardo Salles. Having the best package of incentives of all business sectors, PADIS reinforces the country’s choice of high technology industry. (click) As I’m going to show you in more detail, financial and institutional support from the BNDES can be an important block in this pyramid.
- PADIS is a key instrument to developing an IC Industry in Brazil. It was directly responsible for consolidating this industry not as a government choice, but as the country’s decision enforced by law. Also applicable to the display industry, PADIS exempts companies from federal corporate, value added and import taxes over 16 years. Development and Design are included.
- As one of the biggest development agencies in the world, the BNDES was founded in the middle of the last century as a federal company. Our main roles involve being the exim bank, supporting industrial and infrastructure policies and strengthening the local capital market through our equity investment arm (called BNDESPar). We are also responsible for the largest part of long-term credit in Brazil, representing around 20% of investment credit for industry and infrastructure in Brazil. As you can see in this table, our assets are comparable to those of the World Bank, but we lent about four times more.
- We BNDES works combining financing and equity tools to better suit any project’s needs. On the equity side, we are looking for projects from growing enterprises that can reach our capital market. The goal here is to foster both development projects and the Brazilian stock market. (click) Besides that, we have a complete package of financing products that support from business projects to the operational stage. On many occasions, these two arms working together have turned apparently difficult business plans into profitable projects. (click) As innovation is paramount for the BNDES, we have the best conditions earmarked to encourage R&D activities. We can finance companies directly with the lowest interest rates within all we have, and also provide grants for innovation through local R&D Institutes;
- The next 3 slides will illustrate examples of possible business models through which we can provide financial support. A very interesting model combines a local Brazilian partner - that has market and operational knowledge – and a technological foreign partner. In this case, besides the fiscal incentives - guaranteed by law - and the support of the Industrial Policy, the BNDES can provide a complete line of financing products and up to 1/3 of the total capital equity. It is important to say that 50% of the total capital share is supposed to stay with Brazilian investors (BNDES and the local partner).
- Investing in Brazil can be done with a local partner or not. (click) Together with the Brazilian Innovation Agency (called FINEP) we are looking at increasing innovation in companies and R&D Institutes. (click) With FUNTEC, the BNDES invests part of its profits in very specific areas in order to foster R&D activities for companies through R&D local institutes. The non reimbursable money goes to the technology institute, and the developed product, to the private company. (click) It is also possible to combine FUNTEC with our innovation lines, which, as I said, have the best terms of all of our products. (click) FINEP can also provide funds for innovation to both R&D institutes and private companies.
- Apex-Brasil’s main objectives are the promotion of exports of Brazilian products, the internationalization of Brazilian companies
- Current priority sectors: Semiconductors industry, Renewable Energy, Oil & Gas industry, Real Estate and Tourism. Others are under avaliation to be included.