Industry growth reported in Brazil

January 18, 2013
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Business Growth

Businesses developing negotiations and signing contracts with other parties in Brazil should look toward a Brazilian lawyer experienced in business law to provide the necessary background for a successful transaction. Right now is the opportune time for companies to invest in this country, as industry productivity is growing in Brazil.

The Rio Times reported that Brazil's activity in the industry sector has risen 2.5 percent in November 2012. The Brazilian National Confederation of Industry (CNI) released a survey that shows this growth, which should bring more hope to business executives and subsequent employees hoping for a stronger economy in Brazil over the coming months.

Analysts have said that this generates optimism for a stronger recovery in 2013, as the figures indicate a more robust end to the last year. The retail industry, specifically clothing, has seen a dramatic increase in hiring, with 11.3 percent more people employed, while overall growth increased by 6.2 percent.

A government announcement recently stated that Brazil is set to sell 172 oil blocks this coming May, according to the news source. This may further push economic recovery. It will also put an end to a five-year break that caused problems for the business strategies of many oil firms.

"There will be 172 blocks up for offer, onshore and offshore, divided among seventeen sectors, in nine sedimentary basins,” the National Petroleum Agency said in a statement. "The highlight of the eleventh round will be the Equatorial Margin, made up of the Fozdo Amazonas, Pará-Maranhão, Barreirinhas, Ceará and Potiguar basins. The region is considered highly promising due to the recent recorded discoveries."

Businesses attempting to create more opportunities for themselves in Brazil should consider working with a Brazilian law firm to ensure that all laws in Brazil are followed.

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