This Wednesday the Law for the Promotion and Development of New Enterprises was approved in a second discussion, which in its 22 articles will provide legal protection and promote the commercial activity of new entrepreneurs in the offering of goods and services.
During the presentation of this bill, it was highlighted that 3.462 proposals were received to "put a grain of sand on this law," in addition to a broad debate with different sectors of the country for the consolidation of this legal framework.
The law seeks to promote the development of new ventures, to expand the supply of goods and services to the economic development of the nation, in addition to promoting entrepreneurship with a view to free and fair competition, inclusion, social responsibility, sustainable development and economic independence.LAW-PROMOTION-AND-DEVELOPMENT-NEW-ENTERPRISES-12-10-21.docx
The law will contemplate the simplification of administrative procedures for the constitution, financing and development of new ventures. For which, the necessary deadlines will be established for the applications and processes that were previously cumbersome to be approved.
The exemption of tax payments in exceptional cases is established. Tax incentives will be established from the governorates and mayors for the operation of new ventures.
Banking institutions should establish advantages for financing entrepreneurs, establishing preferential treatment for young people and women.
The rectory will be in charge of the ministry with competence in Economy and Finance, which will design policies and strategies to implement a national registry of enterprises that will be willing to develop the sector.
It will also coordinate support with financing from public banks and develop training programs for entrepreneurs. In the same way, it will ensure the operation of public policies aimed at the growth of this sector.
In addition, a National Fund for Entrepreneurship will be created, made up of resources assigned by the Executive, the resources from the reimbursable financing granted to male and female entrepreneurs, those that accrue from donations and other donations, goods that they obtain as a result of the profits of their activities. .
A National Entrepreneurship Network will be formed, which will be an open space for participation and meeting between the organs and entities of the State, entrepreneurs, organizations and any other person who has a vocation to support the generation and development of entrepreneurship.