Brazil’s government on Wednesday published a set of “provisional measures” designed to reduce red tape for businesses and create a more rational regulatory environment. The measures have the force of law for six months but must be passed by Congress in order to become permanent. One measure creates a list of “low-risk” enterprises that will be exempt from most local and federal licensing requirements. The measure is likely to favor small businesses, including start-ups in areas such as financial services. Another measure obliges regulatory agencies to conduct and publish economic impact studies before adopting new regulations. The measure is designed to protect businesses from abrupt or damaging new rules.
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