BRASILIA, Aug. 14 (Xinhua) -- The newly passed Provisional Measure (PM) of Economic Liberalization in Brazil will generate 3.7 million jobs over 10 years, an official said on Wednesday.
Paulo Uebel, the special secretary of Debureaucratization, Management and Digital Government of the Ministry of Economy, made the remarks after a meeting with the economic minister and business leaders.
The basic text was approved on Tuesday night by the country's Chamber of Deputies, with 345 votes in favor, 76 against and one abstention.
Uebel said that the figure comes from a study by the Economic Policy Secretariat, which also forecasts a 7-percent growth in the country's gross domestic product over the next decade.
"It is very significant growth. It has a very strong impact, it makes it easier to open and close businesses, it makes it easier to initiate activities in low-risk establishments that no longer depend on licenses," Uebel said.
The PM seeks to reduce bureaucracy in entrepreneurial activities and stimulate entrepreneurship and innovation with minimal intervention from the government.
The measure allows companies and individuals to develop businesses considered "low-risk" without permits or license.
The special secretary mentioned the creation of tax immunities for innovation as one of the advantages of the measure.
The initiative "is closer to the rules that govern in developed countries, in OECD member countries," he said.
Although it is hard to gauge the impact of the measure in the short term, the PM will ultimately benefit the Brazilian economy, especially micro and small business owners, which form the majority of service providers in Brazil, Uebel added.