Lenovo To Invest US$100mn To Establish Research Facility
News: China-based computer manufacturer Lenovo plans to invest US$100mn to set up a research and development centre in Brazil, reports ZDNet. It will be based in the city of Campinas' Science and Technology park, and will focus on the development of high-end servers, storage and cloud computing software. The centre, which will open in January 2014, is expected to generate 100 new jobs. It will also have the support of São Paulo state's investment agency.
BMI View: The Brazilian government is determined to encourage the development of the domestic IT sector, in line with ambitions for Brazil to become one of the world's top outsourcing destinations. However, foreign vendors are investing in setting up new service centres and research and development facilities in Brazil, in recognition of the market's growth prospects.