Salvador, Bahia - Economy

Economy

Throughout Brazilian history Salvador has played an important role. Throughout the colonial era Salvador was the colony's largest and most important city. Because of its location on Brazil's northeastern coast, the city served as an important link in the Portuguese empire, maintaining close commercial ties with Portugal and Portuguese colonies in Africa and Asia. Salvador remained the preeminent city in Brazil until 1763 when it was replaced as the national capital by Rio de Janeiro. In the last ten years many high-rise office and apartment buildings were constructed, sharing the same blocks with colonial-era housing or commercial buildings. With its beaches, humid tropical climate, numerous up-to-date shopping malls(The Shopping Iguatemi is the first Shopping in Brazil Northeast and pleasant high-class residential areas, the city has much to offer its residents. Economically Salvador is one of Brazil's more important cities. Since its founding the city has been one of Brazil's most prominent ports and international trading centers. Boasting a large oil refinery, a petrochemical plant and other important industries, the city has made great strides in reducing its historical dependence on agriculture for its prosperity.

Salvador is the second most popular tourism destination in Brazil, after Rio de Janeiro. Tourism and cultural activity are important generators of employment and income, boosting the arts and the preservation of artistic and cultural heritage. Chief among the points of interest are its famous Pelourinho (named after the colonial pillories that once stood there) district, its historic churches, and its beaches. Salvador's tourism infrastructure is considered one of the most modern in World, especially in terms of lodging. The city offers accommodation to suit all tastes and standards, from youth hostels to international hotels. Construction is one of the most important activities in the city, and many international (mainly from Spain, Portugal and England) and national developers are investing in the city and in the Bahian littoral zone.

Ford Motor Company has a plant in the Metropolitan Region of Salvador, in the city of Camaçari, assembling the Ford EcoSport, Ford Fiesta, Ford Fiesta Sedan. It was the first Automotive industry in Northeastern Brazil. The industry employs 800 engineers.

JAC Motors will have a plant in the Metropolitan Region of Salvador, in the city of Camaçari, the new industry will result 3,500 direct jobs and 10,000 indirect jobs, the production of 100,000 vehicles by year.

In December 2001, Monsanto Company inaugurated, at the Petrochemical Pole of Camaçari, in Metropolitan Region of Salvador, the first plant of the company designed to produce raw materials for the herbicide Roundup in South America. The investment is equivalent to US$ 500 millions; US$ 350 millions were spent in this initial phase. The Camaçari Plant, the largest unit of Monsanto outside of the United States, is also the only Monsanto plant manufacturing raw materials for the Roundup production line. The company started the civil works for the new plant in January 2000.