Agência Brasil*
Brasília – The Brazilian naval industry is going to receive initial investment of 400 million Brazilian reals (US$ 236 million), to increase production and become a great development hub for the country, according to information disclosed today (12) by the minister of Finance, Guido Mantega, on commenting the measures forecasted for the sector in the Productive Development Policy: Innovation and Investment for Growth.
"We expect a great surge, a great expansion in production of the naval industry, and we must take measures to simplify its implementation." The money should be turned to a fund to guarantee the performance that, according to the minister, is a problem that exists in the construction of vessels.
The government should also repeal the incidence of IPI, PIS and CONFINS taxes on parts and materials turned to the construction of ships at Brazilian shipyards. Apart from that, the government should also eliminate the incidence of PIS and Cofins on the purchase of fuel for long distance navigation. Nowadays, the only area receiving this benefit is coastwise navigation.
*Translated by Mark Ament
