World
Brazil opens airline sector to foreign capital
Brasilia: The full Chamber of Deputies of Brazil on Wednesday approved an executive order allowing foreign investors up 100 per cent ownership of Brazilian airlines, compared to the current 20 per cent limit.
The executive order, presented last March by President Dilma Rousseff before she was stripped off her duties, subjected to impeachment and replaced by Vice President Michel Temer, was modified to be more progressive than the initial proposal, EFE news reported.
The then Brazilian president proposed to lift from 20 per cent to 49 per cent the maximum foreign stake in domestic airlines, but the rapporteur of the initiative raised the cap to 100 per cent and was supported by 199 in favour to 71 opposed.
The approved order stipulates that foreigners can hold up to 100 per cent stake of a Brazilian airline through bilateral reciprocity agreements, meaning that the investor’s country of origin also allows Brazilians to acquire 100 per cent ownership.
The decision of the Lower House was celebrated by the interim president’s government.
According to Brazil’s lower house spokesman Andre Moura, the decision will help the sector to face the current crisis and allow fare reduction.
“For the government it is important to allow the participation of foreigners in the sector, even because the country’s economic crisis forces us to do so,” said Moura, for whom the relaxation will boost investment in the sector and allow Brazilian airlines to have more technology, more aircraft and more security.
“Those benefiting are the passengers, who may pay less for the tickets,” he said.
For Rousseff’s allies, however, this relaxation of limits on foreign investment threatens national sovereignty.
“Foreigners will be able to create monopolies due to competitive capacity. They come to Brazil to gain more profits and not to increase flights and lower fares,” said Deputy Ivan Valente of the Socialism and Freedom Party (PSOL).
If the executive order is also approved by the majority of the Senate, Brazil will become, along with countries like Chile and Singapore, one of the few nations that give total freedom to foreigners to control national carriers.
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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