Competitiveness Law

[NewsWhore]

The executive director of the National Competitiveness Council (CNC), Andres Van der Horst, said that he is not in agreement with the removal of the incentives that Competitiveness and Industrial Innovation Law 392-02 provides industries. Hacienda Minister Vicente Bengoa is proposing cuts of incentives under the law. But Van der Horst says that on the contrary, the law should be reviewed to strengthen its board and make the industrial process more dynamic. He says the law, now three years old, needs to be reviewed to guarantee that it truly serves to promote industrial innovation and its effective implementation. He said that incentives were instated to eliminate fiscal distortions and obstacles to exporting, and should not be removed.

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