News
The Brazil Congress has approved a port reform bill which will modernize and expand its overcrowded ports, opening the door to private investments and permitting the construction of privately-owned ports.
The legislation will become law subject to the approval of President Dilma Rousseff.
The port reform bill would allow the government to invest 54 billion reals ($27 billion) in the nation’s ailing ports to improve the competitiveness of Brazilian exports, eliminate bureaucracy and reducing freight costs by 20 percent.
