Brazil's President Seeks Investment During U.S. Visit

NEW YORK—Brazil's President Dilma Rousseff said Monday that a more business-friendly environment is needed in Latin America's largest economy to attract the investment it needs to restore growth.

"We need to reduce the risks of doing business in Brazil," she said in an interview in New York, as she began a visit to the U.S. aimed at drawing investors and to meet with President Barack Obama in Washington.

Her task is complicated by poor economic conditions at home. Annual inflation is running at 8.8% despite high interest rates, with the benchmark rate at 13.75%. Economists forecast an economic contraction this year. But Ms. Rousseff said Brazil still has strong fundamentals that should attract long-term investors.

Her visit comes amid a widening investigation into alleged price-fixing and corruption surrounding government-controlled oil giant Petró leo Brasileiro SA, or Petrobras. Several Brazilian companies are being investigated in connection with the scandal. Some are cooperating with investigators; some have denied wrongdoing. On Monday,

The president and some of her ministers are in New York to pitch to investors a package of infrastructure works they hope will draw U.S. investors.

Ms. Rousseff said more trade liberalization is needed to prod Brazilian companies to increase productivity.

Ms. Rousseff is scheduled to have dinner with Mr. Obama on Monday evening and to have working meetings in Washington on Tuesday. She will then head to the West Coast to meet with people in the technology industry.

Write to Paulo Trevisani at [e-mail]

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