The New Brazilian Economic Freedom Act

In January 2019, Jair Bolsonaro took office as the new president of Brazil. The Bolsonaro administration has indicated that changes to the Brazilian legal framework will be a strategic priority in the rebuilding of Brazil’s economy in the wake of the system-wide corruption investigations that resulted in the bankruptcy or near-insolvency of several key Brazilian companies, particularly in the construction and oil & gas services sectors. To achieve its desired goals, the Brazilian federal government is pushing a legislative agenda to improve the business environment, foster competitiveness and bolster the interest of foreign investors.

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