The Brazilian government aims to improve regulatory frameworks for the energy and mining sectors to attract private investment as part of the global reallocation of investor portfolios, the Minister of Mines and Energy said Thursday, Adolfo Sachsida.

Speaking at an event in São Paulo, Sachsida did not detail the government’s plans, but said its performance in the energy sector is guided by ensuring “clean, safe and cheap”.

“The consumer always comes first,” he said.

The day before, the minister championed changes to government-run energy contract auctions, so that auctions stop contracting specific generation sources and reflect better prices for consumers.

In the mining sector, Sachsida said again that Brazil wants to follow the example of Canada, which he believes has the best regulatory frameworks to develop a mining activity allied with sustainability objectives.

After the event, the minister briefly told reporters that the government wanted to create “new financial instruments” for the energy and mining sectors, a topic that would be discussed at a meeting with the banks on Thursday.

“LIBERAL POLICY”

According to Sachsida, the Brazilian government has adopted a liberal economic policy “with all its vigor”, avoiding freezing energy and fuel prices even in the midst of upward pressure, “which is bearing fruit”.

“There was a severe water crisis last year, the biggest in 100 years, did someone freeze prices here?” he said, after quoting the recent policies in Europe aimed at taxing extraordinary corporate profits and freezing prices amid rising gas and energy prices.

“I have no doubt that this tax cut we are creating has created a strong foundation for job and investment growth.”