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LG, Company Of Electronics, Has Approval To Invest In The Free Trade Zone Of Manaus, In Amazonas. The Forecast Is That 150 Jobs Will Be Generated
Carlos da Costa, Special Minister Of Productivity, Employment And Competitiveness, announced that he will approve the expansion of LG’s production line for monitors and notebooks in the Free Trade Zone of Manaus, Amazonas. The decision was made after the electronics multinational increased the number of jobs created in the Amazon capital from 68 to 150 and announced an investment of about R$ 3.8 billion.
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Investments To Be Made By LG In The State Of Amazonas
Yesterday (11/05), a live stream was held featuring the president of Fieam (Federation Of Industries Of The State Of Amazonas) and executives from LG Electronics. Carlos da Costa said during the meeting that, in addition to increasing opportunities, the approval of the new proposal considered that the multinational is the fourth largest employer in Amazonas, with 2,200 jobs generated in the state.
The minister also stated that the commitment to double the originally anticipated number of jobs (from 68 to a forecast of 150 jobs) is a major victory for the Free Trade Zone of Manaus, in the state of Amazonas, and for LG.
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Project Of The Multinational Had Been Removed From The Agenda Of The Meeting Of The Suframa Administration Council
On April 23, Carlos Costa had removed from the agenda of the meeting of the Suframa Administration Council (CAS) the LG project. The multinational’s plan, which had received favorable opinions from other CAS members, had the largest projected investments on the agenda of the meeting, with about R$ 325 million.
However, at the time, Costa stated that the removal of LG’s project would not signify a rejection of the project, stressing the effort to better understand the circumstances that led to such a low number of jobs being generated by such a high volume of investments to be made by LG in the state of Amazonas.
LG Electronics Will Transfer To The Capital Of Amazonas
The transfer of LG Electronics to Manaus, Amazonas, occurred during the workers’ strike in Taubaté, São Paulo. According to the announcement on April 19, employees from the department who were already on strike approved the proposed agreement defined on April 16 through a hearing held by TRT-15.
According to the report, LG expects to close its mobile phone factory by May 31. For LG’s monitor and notebook factories, according to the plan disclosed by the union, workers expect to halt production in Taubaté by August 31 of this year.
Also See: Amazonas Government Forecasts The Creation Of 3 Thousand New Jobs In The State Until 2024
On April 29, during the 289th Ordinary Meeting Of CODAM – Development Council Of Amazonas, approximately 69 new projects and investments of about R$ 15 billion were approved, with the potential to generate around 3,000 new jobs in the state of Amazonas.
According to the CODAM, the investments from all projects approved during the meeting will be applied by 2024 and are expected to generate around 3,875 new jobs, in addition to repurposing about 2,736 jobs in the industry. Furthermore, the Amazonas state government also cites job generation from new projects of large companies such as LG, Samsung, Juruá Estaleiros, and more, which will contribute to the region’s development by promoting the circulation of the economy and income.
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