It was in the latter part of the 80s, that privatization in Brazil started due to a debt crisis. As per the National Confederation of Industry (CNI), Brazil had to promote the infrastructure sector and achieve modernization. This required Brazil to meet the demand for investment.
Felipe Montoro Jens further explains that at this time, the concept of privatization of infrastructure started. There was continuous growth and this also included the businesses that were owned by the state.
In 1990, the National Privatization Program was launched and it offered a standardized economic reform platform which was proposed by the government. It was for the steel, petrochemical as well as the aeronautical sectors. The Concessions Law was passed in 1995 in which several kinds of industries were considered as a priority for privatization. This included transportation, besides sanitation, electricity, as well as telecommunications, along with banking corporations. The Public Private Partnerships Act (PPPs) was approved in 2004 by the government.
At this time, it was importand to have a regulatory agency las that would ead to the ultimate success for the country. Felipe Montoro Jens clarifies that at this time establishing any kind of guidelines for businesses to follow was not easy. There were plans like the General Concession Planand the universalization of the Fixed Telephone Service.
All this led to the impressive development that has been sustainable for over 20 years now. In 2004, the National Economic and Social Development Bank (BNDES) established the process and operations of these privatized programs.
Besides being the chief financial officer, Felipe Montoro Jens is also a planner, controller as well as treasurer of finance divisions in the United Kingdom, Brazil and Singapore. He is also on the board of directors for a number of companies. Due to this reason, his views are very important.
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