Canada

Government regulates fund for industrial and technological development

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The Federal Government published, this Thursday (10), a decree that regulates the National Fund for Industrial and Technological Development (FNDIT).

The will be responsible for managing the fund. He must adopt measures to control entry, remuneration for availability and enforcement. And, in the event of investment in reimbursable operations, the return of resources.

The text also establishes the creation of a Board of Directors, composed of members of the Ministry of Finance; the Ministry of Science, Technology and Innovation; the National Confederation of Industry; in addition to industry associations and trade union forces.

The Council must meet every six months and is responsible for monitoring the execution and evaluating the results of accredited projects and programs.

The FNDIT aims to capture resources from industrial policies, to be used as financial support for priority industrial, scientific and technological development programs and projects.

The fund emerged alongside the national Green Mobility and Innovation program (Mover), which is aimed at technological development and decarbonization of the automotive sector.

The FNDIT will have initial resources from a 2% tax rate on imports of automotive products, carried out by companies participating in Mover, but it can also rely on other sources associated with public policies.

According to BNDES, the forecast is that the fund can invest up to R$1 billion in non-refundable resources over the next four years.

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