Roberto Setubal, chief executive officer of Itau Unibanco (ITUB4), said Brazil’s government needs to boost investment returns for businesses if the country seeks to grow 4 percent next year, Folha de Sao Paulo reported.

Brazil needs to upgrade its infrastructure in order to improve productivity, the publication reported Setubal as saying.

To contact the reporter on this story: Matthew Malinowski in Brasilia at mmalinowski@bloomberg.net.

To contact the editor responsible for this story: Joe Sabo at jsabo@bloomberg.net