(MENAFN) On Friday, Brazilian President Jair Bolsonaro signed into law the conditional Measure of Economic liberalization bill, which aims to trim down bureaucracy in business activities.
Since the beginning of the month, this was Bolsonaro's first governmental act when he had to do a hernia surgery, as said by the government, the new law will decrease bureaucracy and help Brazilians to begin a businesses and close deals.
The new law helps to start with activities in safe establishments, like small shops, without licenses.
Brazil expects that the implementation of the new law will cause an added 7 percent development of the country's GDP in the next 10 years and create 3.7 million jobs.
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