This unfortunately, does not work.
And not for lack of trying, IBM, Google, Microsoft, and many other tech giants have subsidiaries here in Brazil for example.
Yet, everytime you hear about a brazillian that achieved something great recently, was NOT inside Brazil.
I can tell you, my personal reasons why I don't even applied to MS, IBM, etc here in Brazil: You have all problems of working in a big corporation, yet the pay is still terrible.
But I DID applied for US MS for example, because although it obviously has the same problems as working in BR MS, the pay is much, much higher (inside MS itself the US pay is about 4 times the BR pay for a entry level position).
Thus the best talent from Brazil (or India, or China) don't stay in their countries, they end leaving their countries, even if to work in companies that do exist in their countries, seeking a better life.
Now, why MS US and MS BR has so drastic pay gap? Basically, because of the things that made the US a great place to create startups in first place: much less regulation in general, much less corruption, and better infrastructure, in Brazil the mininum costs of running a company, without counting the employee wages, is so high, that not much money is left to actually pay the employees, we call this here "Brazil Cost".
Some examples: Brazil is the country in the world that is most complicated to pay the taxes, as result is the country where companies use a largest portion of their money paying accountants and tax lawyers.
Brazil has second highest taxes of the world (first place is Sweden).
Yet Brazil security, roads, etc... suck, to the point that most big companies in Brazil are concentrated in a private-built city named AlphaVille, companies and rich people living in AlphaVille built with their own private money their streets, guard stations, walls, electricity lines, etc... and pay with their own private money for cops, schools for their children, firefighters, etc... And STILL pay all the taxes normally too, as you can expect, running a business there (or living there) is crazy expensive.
Yet running our business there, is a necessity, when you have people assaulting business in São Paulo and Rio using heavy military weapons (even Bazookas were witnessed), you have no choice but to run your business in a private ran fortress, and pay everything doubled (once in form of taxes, and once in form of private contracts that actually solve your problem).