Brazil levels playing field for foreign companies in government contract market

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.

New Brazil with jairbolsonaro 👏👏

Os caras querem acabar com oq resta da indústria nacional...

'Heckert said, which would expand the level playing field for foreign companies to a much larger market, valued at 700 billion reais a year.' $167B/yr in outlays should stop corruption in it's tracks

6:33 AM · 28 янв. 2020 г.·True Anthem

Thank you Bolsonaro!

Great day

Wow. Good luck. 🤞🏻

Clapping furiously!

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