Brazil's president emphasised the importance of advanced industrial policies for the country's development

On Monday, 22 January, Brazilian President Luiz Inacio Lula da Silva announced the New Industry of Brazil (NIB) plan, a policy that involves an investment of R$300 billion (US$60,12 billion) until 2026 that aims to neo-industrialise the country.

This project, focused on sustainability and innovation, was developed by the National Council for Industrial Development (CNDI) and aims to transform the profile of Brazilian industry into a more innovative, green, exporting and productive sector.

During the CNDI meeting at the Planalto Palace, Lula da Silva emphasised the importance of advanced industrial policies for Brazil's development. "It is very important for us that Brazil once again implements innovative industrial policies, fully digitalised, as the world demands today," the president said.

Vice President and Minister of Development, Science, Technology and Innovation Geraldo Alckmin, who also heads the CNDI, presented the plan to the president. He emphasised that the new industrial policy prioritises research and technology.

"The new policy puts innovation and sustainability at the centre of economic development, stimulating research and technology in a wide variety of segments, with social and environmental responsibility," Alckmin said.

The new plan includes strengthening agro-industrial chains to ensure food and nutrition security, expanding national production of medicines and medical devices, improving urban infrastructure in a sustainable manner, digitising national industry, and promoting bioeconomy and decarbonisation.

The plan also includes strengthening the public procurement system, a special tax regime for the chemical industry, and reducing red tape in the business environment and in the intellectual property registration system. This is reported by Brasil 247, a partner of TV BRICS.

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