by Richard Tomkins
Washington (UPI) Apr 6, 2017
Brazil plans to offer incentives -- including lines of credit --- to countries buying Brazilian defense products, Defense Minister Raul Jungmann announced.
The lines of credit to buyers would be offered by the Brazilian Development Bank.
Insurance instruments for Brazilian manufacturers and a dedicated defense industry group within the Foreign Trade Chamber are also being eyed by the government to boost defense industry exports.
"We need to create a specific policy for this sector, with robust instruments that can create greater efficiency in our trade relations," he said.
Jungmann made this announcement Tuesday at the opening ceremony of LAAD Defense & Security 2017, a major defense industry exhibition and conference in Rio de Janeiro.
"These [defense industry exports] are different from the usual exports because they are done on a country-to-country basis," said Maria Sílvia Bastos Marques, president of the National Bank for Economic and Social Development. "What the Brazilian government is doing, in a coordinated way, with the Ministries of Finance, Defense, Foreign Relations and all other bodies involved, is to bring international competitiveness to our industry.
Bastos Marques said terms of financing for buying Brazilian defense products could be up to 25 years with a five-year grace period before repayments begin.
Washington (UPI) Mar 30, 2017
With incomes on the rise, Delek Group, which has a stake in one of Israel's largest gas fields, said it's setting its sights on becoming a global player. Delek said Thursday its net income for the year was up from $6.9 million in 2015 to $172 million. Operating profit last year was 50 percent from the previous year to $425 million, largely on the back of gains from the exploration and p ... read more
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