Brazil's BRIC foundations provides strong base for growth
Think of Brazil and your thoughts probably turn to World Cup winning football, Sugarloaf Mountain or its recent successful bid to host the 2016 Olympics. You may not immediately associate Brazil with innovation and industrial success.
However, findings from a recent study tour of the country by students from the IfM have illustrated the potential of the South American nation.
Their investigation revealed Brazil has developed forward-thinking energy policies, boasts innovative manufacturing practices and has developed world-leading industry. And, as one of the so-called BRIC Countries, (Brazil, Russia, India and China) has been tipped to become one of the world’s leading economies by 2050.
The students’ findings were unveiled on the day a UK Trade and Investment (UKTI) supported-event was held in the Brazilian capital. UKTI is staging the event in Sao Paulo – attended by Professor Mike Gregory, head of the IfM – to showcase UK Advanced Engineering expertise and bring UK and Brazilian companies together to form successful partnerships in the Advanced Engineering sector.
Each year masters students from the IfM’s Industrial Systems, Manufacture and Management course undertake an overseas research project. This year 25 students visited Brazil and focused on the industrialised “Golden Triangle”, an area of Brazil between Sao Paulo, Rio de Janeiro and Belo Horizonte.
The tour group has just issued its findings which reveal Brazil as well placed to fulfil its economic potential. The country is investing heavily in hydroelectric and nuclear energy in order to help power its industrial growth – even though it possesses huge oil reserves. Rather than base its energy need on the fast-dwindling resource, it is instead using profits from the oil industry as a ‘pension’ to fund further expansion.