The “Buy Brazil Act”

I was skimming an article at Latin Business Chronicle and I saw something called the “Buy Brazil Act” mentioned which seems noteworthy for the business-minded. Towards the end of the article titled “Brazil: Why Executives Should Care Who Wins”, I found the following…

“With recent legislation such as the “Buy Brazil Act” (Provisional Measure (PM) Nr. 495), the government is mandating preference for Brazilian firms or goods produced in Brazil in government procurement. According to Marcus Freitas, Frontier Strategy Group Expert Advisor and Professor of Law and International Relations at Fundação Armando Alvares Penteado in São Paulo, “According to the new law, preference shall always be given to products: a) made in Brazil; b) made or provided by Brazilian corporations, and c) made or provided by corporations that have invested in research and technology development in Brazil… The Federal Administration expects foreign companies interested in the Brazilian public procurement market to establish a presence and invest directly in the country.””

More Info

Latin Business Chronicle (in PT)
Changes to the Public Biddings Regulation

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