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Belo Horizonte, Brazil News About Belo Horizonte, Brazil Belo Horizonte is the economic center of its region. Both multinational and Brazilian companies, like Google and Oi, maintain their headquarters in the city. The service sector plays a very important role in the economy of Belo Horizonte, being responsible for 85% of the city's GDP, with the industry making up for most of the remaining 15%. Belo Horizonte has a developed industrial sector, being traditionally a pole of the Brazilian siderurgical and metallurgical industries, as the state of Minas Gerais has always been very rich in minerals, specifically iron ore. Due to both governmental and private funding in the diversification of its economy, the city has become an international reference in Information Technology and Biotechnology, and is also cited because of the advanced corporate and university research in Biodiesel fuel. Projects in these fields are likely to expand due to integration between universities, the oil company Petrobras and the Brazilian Government. Over 16% of the Brazilian biotechnological industries are located in Belo Horizonte, with annual revenues of more than US$ 550 million. During the past few years, the city has made investments in "business-tourism," by promoting more than 3,000 national or international events yearly. One of the largest events that ever took place in the city, the IDB meeting, occurred in 2005 and attracted people from around in the world. The GDP for the city was R$ 28,386,694,000 (2005). The per capita income for the city was R$ 11,951 (2005). Other Major Cities:
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