Roundsourcing Podcast: Final Thoughts on Brazil
Although the region was first settled in the early 18th century, Belo Horizonte - as it’s known today - was planned and constructed in the late 1890s. Built on several hills and surrounded by mountains, the area is home to an abundance of rare earth minerals and stones, making it a prime spot for mining extraction and jewelry production. The city is also a hub for tourism - it attracts people from all over the world, and in 2014, it served as the host of the FIFA World Cup.
The city’s economy is made up of a large service sector, but it is mainly known as a burgeoning industrial center with production of steel and steel products, cars, textiles, chemicals, etc. To bolster diversification, significant resources and funding have been dedicated both by the government and private sector to technology, which has turned the city into the technology center of Latin America. Notably, significant investments have been made in science and technology through partnerships with companies and research institutions throughout the world.
For long, the bustling economic activity of Belo Horizonte happened within the bubble of the highly protectionist Brazilian national economy, but it is changing, as it is in the rest of the country. The evidence of roundsourcing is now everywhere in Belo Horizonte and across the rest of Brazil.
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Joseph J. Dehner Joe Dehner concentrates his practice on multinational business and securities disputes. He counsels a wide variety of companies, domestic and foreign, on issues confronting global business, including transnational investment, mergers and acquisitions, joint ventures, customs and trade issues, international business structures, distribution and agency agreements and the resolution of international disputes.