The Brazilian government is preparing incentives aimed at boosting the competitiveness and international market presence of the country’s defense sector.
According to Jungmann from the Ministry of Defense, the actions will include a line of credit from the National Bank for Economic and Social Development (BNDES) to provide financing to countries that purchase products from the Brazilian defense industry, insurance instruments for domestic manufacturers, and a dedicated group in the Foreign Trade Chamber (CAMEX) that will exclusively address the defense industry.
Jungmann stated that the defense industry has been the engine behind various technological advancements in history, such as GPS, microwave ovens, and Teflon, adding that he believes the sector can significantly contribute to stronger economic growth.
“The defense industry is an important driver of new technologies and productivity in the economy.”