REUTERS/ Brasil is fast developing as a world market leader but the "old Brasil" hangs on with red tape that angers foreign investors and stunts its growth. "Brasil will have to reduce bureaucracy, because if it doesn't it will lose its competitiveness in a short time," said Joao Geraldo Piquet Carneiro, director of the Helio Beltrao Institute, which campaigns against excessive red tape. It still takes an average of 120 days to start a company there and navigate complex labor laws. According to the World Bank's annual survey on the ease of doing business ranks, Brazil 129th out of 183 countries, BELOW Papua New Guinea and Bangladesh!
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