Economic Opportunities in Rio de Janeiro
- List examples of industry in Rio de Janeiro – classify them as primary, secondary and tertiary.
- The main manufacturing areas in Rio are around the port and on the outskirts of the city.
- What are the advantages of this for manufacturing industries?
- How do these industrial areas stimulate other economic activity?
- Describe the Schools of Tomorrow project and explain how it will help manage unemployment and crime
Rio was once the capital city of Brazil and this helped the city be a desirable base for the headquarters of many state companies such as Petrobas, a major oil company. Despite losing its capital city status it still attracts many multinational corporations.
To attract industry, the state government has designated certain areas on the outskirts of the city as industrial districts where infrastructure is provided, ensuring good accessibility, and land sales are made under special conditions.
Rio’s industrial areas have attracted large companies to Rio from other parts of Brazil and South America, as well as from abroad. Rio's factories produce processed foods, textiles, furniture, chemicals, petroleum products, pharmaceuticals, and metal products. The manufacture of electronics and computers has begun to play a major role in the economy.
Rio is Brazil’s second most important industrial region after Sao Paulo. Its port facilities and industrial areas have helped Rio to develop its economy and provide 6% of total employment in Brazil. Economic development has also meant that Rio has been able to improve its infrastructure so that roads and transport services operate effectively.
It is not just manufacturing industry that is important. Rio’s retail sector is a major source of employment as are other service industry and the finance sector. Rio’s stock exchange, the Bolsa da Valores, is the most active stock market in Brazil. Oil has been discovered off the coast of Rio in the Campos Basin and there is agrowth in oil-related industries too. There are international oil companies like Shell and Esso that have officesin the city.
So, industrial areas stimulate more economic activity which in turn creates more employment for Rio’s growing population.
Youth unemployment is also being tackled with an aim to tackle the crime problem and the number of people working in the informal sector. The Schools of Tomorrow project aims to improve education for the poor and offers practical skills-based course. There are also courses for adults who want to continue their studies and free child care is provided to teenage parents to allow them to return to education and therefore increase their chances of working in the formal sector in the future.