Meanwhile, the state’s US$485 billion economy – equivalent to that of the entire economy of Argentina – accounts for 34% of Brazil’s GDP and represents Latin America’s leading business district. “If São Paulo was a country, it would probably be in the top 20 or top 50 countries of the world,” says Luciano de Almeida, president of
Investe São Paulo, the state’s investment promotion agency.
Not only are Brazil’s most important financial institutions headquartered in São Paulo, the city is also the permanent address of the BM&FBovespa, the third-largest stock exchange in the world in terms of market capitalization.
Yet another point in São Paulo’s favor is its diversified economy and highly qualified workforce.
The state’s industries, which are based on a solid technological foundation, generate products with high added value. Sectors with massive growth potential include IT, aerospace, automotive, oil and gas, agribusiness, trade, services and tourism.
São Paulo is also an important national center of learning as it is home to one-quarter of Brazil’s institutions of higher education, including three of the country’s, and the world’s, most prestigious universities: USP (University of São Paulo), UNESP (Paulista University) and UNICAMP (University of Campinas). Indeed, all three are listed among the world’s top 500 in the 2010 Academic Ranking of World Universities.
| one of the most important development hubs in the southern hemisphere, São paulo’s influence reaches into other states and south american countries |
In other words, São Paulo is economically, industrially, culturally and demographically the vigorous heartbeat of Brazil. And the “blood” moves swiftly through the state’s “veins”, thanks to its high quality logistics and transportation infrastructure.
Whereas many other areas of Brazil have suffered from insufficient investment in infrastructure, São Paulo boasts the country’s most modern highways, the main international airports, and excellent waterways, railroads and duct networks. The state is also home to some of Latin America’s largest container terminals, responsible for 26% of the Brazilian chain of commerce. São Paulo’s infrastructure is a boon for the entire nation, helping make it a more attractive place for foreign investors.
Prolific research institutes, both public and private, and technological parks serve as further magnets for investment. Within the private sphere, in 2009 expenditures in innovation in São Paulo alone reached US$12 billion, accounting for nearly half of the total invested in the sector nationally. Between 2006 and 2008, the state of São Paulo registered 46% of the patent requests filed by Brazilian industries.
Investe São Paulo is the agency responsible for linking investors with business opportunities and providing information on incentives, conditions and local legislation.
“We have a lot of investment coming in: at the moment we have 75 projects in São Paulo which amount to around US$17 billion,” comments Mr. de Almeida. “The world is looking at Brazil to invest in.”
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