References

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Invest in Espirito Santo

Espirito Santo is one of Brazilian states located in the southeastern regions of Brazil. People born in Espirito Santo are referred to as Capixabas, which means ‘Holy Spirit.’  Vitoria is the capital city of Espirito Santo, and Vila Velha is the largest city in the state.  The state is known for having an extensive coastline. Almost 40% of the state’s territory is on the coast. The state boasts some of the country’s main ports. It also has some of the best beaches in the country. Espirito Santo is surrounded by Rio de Janeiro on the south, Minas Gerais to its west and the state has the Atlantic Ocean to its east.

From the economic point of view, the state plays a significant role in contributing towards the National economy. Espirito Santo accounts for about 2.5% of the total National GDP. The state of Espirito Santo has diverse economic activities. It is one leading producers of iron ore in the country; it is also one of the chief producers of steel slabs in the country. The state is home of the world’s largest steel plant, CST. In addition, Espirito Santo is a major granite-producing state in Brazil. The state is the largest exporter of granite in the whole of the South American continent.

The state of Espirito Santo has a significant agricultural sector. The agricultural industry of the state represents about 6% of the GDP. With the availability of fertile soil, and an excellent irrigation system, a wide variety of crops are grown in the state. Some of the major crops grown in Espirito Santo include: cacao, coffee, rice, beans, bananas, sugarcane, papaya, etc. Espirito Santo ranks as the second largest coffee-producing state in the country. The state also is second largest producer of papaya and cellulose. Thus, the agriculture industry is a very lucrative option that foreign investors can consider to invest in. The industry promises profitable returns.

Vitoria, the capital city of Espirito Santo, is the largest steel-producing city in the world.  The city has an important port for exporting iron and steel. Thus, foreign investors can invest in the iron and steel industry of Espirito Santo and greatly benefit from it.

The livestock industry in Espirito Santo is also quite huge. The state has a huge collection of cattle. The cattle are raised mainly for milk and their meat. The industry promises a good investment option for foreign investors.

Like many other states in Brazil, the tourism industry is also a prominent industry of Espirito Santo. The wonderful beaches and the picturesque mountain retreats attract a huge number of tourists to the state. Foreign investors can consider investing in this profitable sector too.

To attract foreign investment in the state, the state government of Espirito Santo is investing heavily in developing infrastructure facilities. The government is investing heavily in construction of good roads throughout the state, and to connect it to other major regions of Brazil. The government is also investing heavily on developing energy resources and good telecommunications facilities. The state government also has tied up with a regional development bank to give a boost to the granite industry, a leading industry of the state.

Thus, with these government initiatives, foreign investors investing in Espirito Santo stand a great chance to gain good returns.