Brazil's government is changing the rules to give foreign companies an equa...
BRASILIA - Brazil’s government is changing the rules to give foreign companies an equal shot at winning government contracts, the Economy Ministry said on Monday.
Economy Minister Paulo Guedes has pledged to fight corruption and open up one of the world’s most protected countries to foreign business and the overseas investment necessary to modernize Brazil’s crumbling infrastructure. As of May, foreign companies will no longer need a Brazilian representative to take part in public tenders in a market worth an estimated 50 billion reais a year, the ministry’s secretary for management, Cristiano Rocha Heckert, said in an interview Monday. Nor will they be required to have a Brazilian tax identification, he said.
The extent of corruption in Brazil has been seen in the country’s “Car Wash” investigation, which has stretched over five years and jailed former President Luiz Inacio Lula da Silva while also bringing down a string of business leaders and power brokers.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ingresse CEO left Silicon Valley to found his startup in Brazil - Business InsiderThis Stanford-educated startup founder stands by his choice to leave Silicon Valley to start his company in Brazil: 'There was more impact to be made here.'
Read more »
Brazil's Vale raises emergency watch level for its Gongo Soco mine dam after heavy rainBrazilian miner Vale SA has raised the emergency level at the Sul Inferior dam a...
Read more »
Companies in Shanghai cannot resume work before February 9 due to virus fight: governmentThe Shanghai government has said companies in the city are not allowed to resume...
Read more »
Fugitive ex-Nissan Chairman Carlos Ghosn warns foreign CEOs in Japan: 'You're playing with your life'Three weeks after he escaped, Carlos Ghosn is warning foreign executives in Japan: watch your back.
Read more »
Brazil's Government Tells Teens to Save Sex for MarriageBrazil’s minister of human rights, family and women is doubling down on abstinence-only education by pushing religion-based policies that tell teenagers to save sex until marriage, a move critics say oversteps the country’s separation between church and state. It also absolutely won’t work.
Read more »
Why Unilever is joining hands with platforms to tackle harmful content - Business InsiderA top Unilever exec explains the CPG giant's about-face in combating harmful content online and why it's working with the platforms after threatening to yank budgets
Read more »