When Vieira Rezende was founded in 1995, our country was experiencing an economic revolution.
The 90s were a time to embrace globalisation. Brazil opened its economy to the private sector, mirroring several other global economies at the time — like the UK during Thatcher’s government, Russia following the collapse of the Soviet Union, and a variety of other Latin American countries (including Argentina, Mexico, and Chile).
In this article, we take a broad look at this angle of Brazilian history, considering why the conditions in place now — and within a bright future — are truly ideal for international investment, and how Vieira Rezende fits into (and influences) this story.
Foreign investment in Brazil’s market was sudden, fast, and consistent. During the 90s, new regulatory agencies were established to both safeguard public interests as well as release infrastructure and utility organisations previously controlled by the state.
Vieira Rezende’s position and approach within this economic revolution was to act as a boutique law firm that collaborated with governments, large consultancy firms, and investment banks — both within Brazil and on the global stage. We seized on opportunities of the time and, very early on, positioned ourselves as an agile player providing essential legal support and advocacy for international investors who were looking to navigate the increasing complexity of Brazil’s broad variety of new and exciting prospects.
Our early entry into oil and gas, particularly with offshore drilling, is a pertinent example. In 2008, we were one of the first firms to go where the tech was coming from: Norway. The oil and gas industry, as a result, was entirely reshaped within the following decade. (As we’ll cover shortly, this same approach was applied with emerging renewable energy technology in later years.) Our size and consequential agility allowed us to support all areas of a business, and we formed such an alliance with Wikborg Rein: Norway’s leading international law firm. This relationship continues through to today.
Vieira Rezende has forged a unique DNA. Rather than pursue rapid expansion in sheer volume of clients, we prioritised intellectual rigour and specialism to be able to support our clients in as broad a number of ways as possible.’ . In addition to our Rio de Janeiro offices, we opened offices in São Paulo to be close to the Financial District, as well as Brasilia near the Federal District. Our decisions and measured development since 1995 have established Vieira Rezende as Brazil’s leading law firm in providing comprehensive support to international business in consultancy, litigation, and advocacy.
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Despite cyclical fluctuations in its economy throughout history, as is the case with most emerging economies, Brazil remains a formidable and growing influence on the global stage in 2023.
In fact, this has largely been the case since the Plano Real (or: The Real Plan) and today’s Real currency were launched in 1993. It was a pioneering achievement against the inflationary spiral that had afflicted Brazil since the mid-80s. The country has seen consistent stability from then on, not only economically but also politically in comparison with other BRICS nations.
All this subsequently contributed towards an incredibly mature legal industry. Despite a lack of long-term policy, Brazil possesses a consistently active judiciary and Supreme Court, known for their readiness. We were one of the first countries internationally to introduce laws protecting same-sex marriage, supporting victims of domestic violence, and a variety of other progressive issues. Our legal system considers its legacy on the national and global stage, enacts the rule of law, and consistently defends under contract. This is tremendously important for international business, as it keeps the market open and legalised — rather than exploitable and exploited.
The nation’s economic matrix has diversified significantly, too, with substantially greater investment in both renewable ‘green’ energy sources and ‘blue’ energy sourced from hydrocarbons and ethanol production. In fact, Brazil’s sugarcane industry is a model for decarbonisation and clean energy: a precious asset in a world striving to find as many options as possible for a sustainable future.
Brazil's demographics also now make it an attractive investment destination. The country boasts a young population, coupled with a growing middle class — roughly one-third of the country, or 70 million people. This demographic group traditionally demands high-quality goods and services, an enticing consumer and employee base for any international business. Finally, Brazil’s GDP — 70% in fact — is reliant on the service sector, driving a more professional, trained, and higher-income population.
Three key sectors stand out for investment opportunities in Brazil today.
The Brazilian government's Growth Acceleration Program (PAC), as well as investments in education, health, and sanitation, reflect a focus on social policy-driven growth. By the end of 2026, we expect an investment of R$1.7 trillion. Brazil isn’t just raising an economy, but the country as a whole.
One of the tremendous benefits of being an emerging economy without having yet set long-term goals is that we can now set them with the benefit of global hindsight. We’re in the position to learn from other developed nations in the world, and Brazil must — and, we are confident, will — learn and absorb the lessons of others to build a more sustainable, widely prosperous future.
Our journey as a firm at Vieira Rezende parallels Brazil's evolution as a global economic player. In fact, our success exemplifies Brazil's potential as an international investment destination. Our country has waited a long time for new leaders. Today, we find them within a whole new generation. The future growth and opportunities in Brazil rest with them.
Written by Pedro Hermeto & Paulo Albert Weyland Vieira
