BRASILIA (Reuters) -Brazilian President Luiz Inacio Lula da Silva on Wednesday signed an executive order aimed at luring data centers to the country by exempting some related equipment from federal taxes, as well a bill to regulate digital competition.

The data centers project will according to the government exempt key federal taxes – PIS, Cofins, IPI, and import duties – on IT-related capital expenditures for the sector, such as on servers and refrigeration.

Reuters reported on the plan to attract data centers in April, citing sources.

The Finance Ministry said it estimates the new policy could unlock some 2 trillion reais ($377 billion) in investments over the next decade.

Meanwhile, a separate bill put forward by the government is looking to creates specific procedures for the coun

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