Official figures indicate that the annual amount of foreign direct investment that flows into Brazil grew to US$75 billion last year, 25 percent more than the year before, the China News Service (CNS) reports.

The Chinese state-run news agency, citing figures given by the UN Conference on Trade and Development (UNCTAD), says only the United States, China and Singapore received more FDI last year.

The report quotes UNCTAD as saying Brazil is overtaking other countries in the amount of FDI received because of a government programme of privatisation, which began in July and is meant to spur economic development.

The latest annual sum shows the confidence of foreign investors in Brazil has returned, CNS quotes Brazilian President Jair Bolsonaro as saying.