The U.S. multinational Cisco inaugurated a Center of Innovation in the Brazilian city of Rio de Janeiro, where it plans to develop technological solutions to meet local needs for companies in sectors that include oil and gas, education and public safety.

"This is an important moment for Cisco, for Brazil at the present time, and for the role that innovation and technology will play in the nation's future," the president of Cisco in Brazil, Rodrigo Dienstmann, said at the inaugural ceremony.

According to the executive, the Rio Cisco CIO is part of a Cisco project for investing in Brazil, "which is not concerned with the short term, economic growth or the dollar's value of the month, but with the country's potential, which is enormous."

The technological center is part of an investment in Brazil of 1 billion reais (roughly $420 million) over four years that Cisco, one of the world leaders in information technology, announced in April of last year.

The formal inauguration ceremony for the first Cisco research center in Brazil, in downtown Rio de Janeiro, was attended by Brazilian Communications Minister Paulo Bernardo.

"Today we have a pretty favorable evironment for this kind of investment and a growing demand for innovative solutions in the field of information technology," the minister said.

The initial goal of the tech center is developing solutions in IT and communications technology for Brazilian companies in the sectors of oil and gas, education, urban development, sports, entertainment, health care and public safety.

The technologies developed, according to Dienstmann, will help Brazil increase productivity, improve its public and private services, raise the population's quality of life and guarantee public safety. EFE