The state of Minas Gerais is the 3rd largest economy and the 2nd largest exporter among Brazilian states. There are strong opportunities to increase Minas Gerais international trade flows, as it is still a fairly closed economy. If you are thinking about doing business in Brazil, you get to know Minas Gerais.

Location

The State of Minas Gerais is located in the southeastern region of Brazil, the region with the largest development and market in the country (more than 50% of the Brazilian GDP).

Minas Gerais shares a border with the states of São Paulo, Rio de Janeiro, Espírito Santo, Bahia, Goiás, Distrito Federal/Brasília and Mato Grosso do Sul. Its geographic position transforms Minas Gerais into a connecting corridor between the various regions of the country: catalyst aspect of good business.

Natural Resources

Minas Gerais is a rich state in terms of biodiversity and natural resources, hosting in its territory three of the six biomes present in the Brazilian territory: Cerrado, Atlantic Forest and Caatinga, as well as transition areas.

It has great water potential made up of 16 river basins, of which only the basins of the São Francisco and Paraná Rivers account for 67% of its territory.

Research & Development

In Minas Gerais there are 10 National Institutes of Science and Technology (INCT), which together with the public research centers (Fiocruz, Funed), technological parks and private research centers linked to companies, give the state a consistent position in Research and Development.

Entrepreneurship

The local startups community has been recognized and comprises 591 companies (Brazilian Association of Startups, 2017) with countless projects that consolidate the important position of the sector.

Creative Economy

The creative and knowledge economy is consolidated in Minas Gerais in the various forms of artistic production, fashion, audiovisual industry, gastronomy, architecture, precious stones and design – among others.

The most sophisticated artisanal production in Brazil is in Minas Gerais. Craftsmen use their skills to create decorative pieces, jewels, utensils, toys, furniture, among other works of art – made from various types of materials such as soapstone, wood, straw, cloth, clay, metal and stone among dozens of others.

Services

Responsible for expressive 64% of the Gross Domestic Product – GDP of Minas Gerais, the service sector in the state has been increasing its participation in the generation of wealth and jobs in the last decades. About 71.5% of the formal employees in Minas Gerais work in some public or private organization in the tertiary sector of the economy.

Belo Horizonte, The Capital

Belo Horizonte is currently experiencing the highest level of international exposure in its history. With approximately 2.5 million inhabitants and the fifth largest GDP among the country’s capitals, the city has gained notoriety and recognition in recent years having hosted major events.

With its strategic national position, BH has increasingly attracted the attention of entrepreneurs wishing to invest in a city, which is sustainable, is about to be a 120-year-old city and offers great quality of life.

Doing Business

Minas Gerais is changing more and more into an international destination for business, tourism and events.

It is estimated that in the year 2016 the flow of tourists left, directly, an approximate value of R$ 17.2 billion in the state economy, which represents an increase of around 8% in relation to the year 2015.

Important Sectors

• Largest coffee producer;
• Largest potato producer;
• Second largest cattle producer;
• Largest milk producer;
• Largest producer and exporter of iron ore;
• Largest producer and exporter of ferroniobium (and 1st in the world);
• Largest producer of steel;
• Largest producer and exporter of pig iron;
• Largest producer of cement;
• Second largest automotive center;
• Second largest foundry pole in the country.

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