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Brazil – New industrial policy for the country’s development adopted by the Brazilian Government

The National Council for Industrial Development adopted “Nova Industria Brasil‘, the new industrial policy aimed at guiding the country’s development for the next 10 years by means of an innovative set of public measures designed to pursue three main goals: stimulating technological progress, productivity, and national competitiveness, by creating quality jobs; increasing the country’s competitive advantages; and repositioning Brazil in international value chains.

Six sectors are involved, namely agriculture, health, sustainable mobility, new technologies, energy transition and security, defence.

In view of facilitating the achievement of these action lines, the Banco Nacional de Desenvolvimento Econômico e Social has allocated 300 billion reais (EUR 56.28 billion) for the three-year period 2024-2026.

Public procurement will play an important role in the new industrial policy. In this regard, the newly established “Interministerial Commission for Innovation and Procurement of the Growth Acceleration Programme” is expected to define – in the coming months – which goods will be given preferential treatment in government procurement, including those included in the “Growth Acceleration Programme”, the public-private investment plan launched by President Lula in August 2023, which is worth over EUR 320 billion.

It is also envisaged to adopt 41 legislative measures to simplify the business environment, 17 of which will be adopted over the next two years.

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