Costa Rica: SMEs Clusters

A law would allow small and medium enterprises grouped in consortia to access markets that fail to capture individually.

Wednesday, March 12, 2014

Comisión de Hacendarios de la Asamblea has ruled on a bill that would allow small businesses to form consortiums for exports, business cooperation and origin.

From a press release from the Ministry of Economy, Industry and Commerce (MEIC):

The Committee on Financial Affairs at the Legislative Assembly has positively and unanimously ruled on a bill promoted by the Ministry of Economy, Trade and Industry which establishes consortium contracts where one or more companies decide to create a voluntary alliance to promote the market their goods and services, as well as facilitate the export of their products through the search for common actions, such as international certifications, financing or joint marketing.

The main objective of the MEIC in promoting this new law is to encourage the development of MSMEs, through a modern, flexible and efficient legal instrument to promote business partnerships for the benefit of competitiveness, generating employment, development and technological innovation, among other things. This has been a successful tool in other countries such as Italy, Uruguay, and Mexico, among others.

More on this topic

Costa Rica: Law on Secured Transactions Approved

May 2014

Mortgage inventories, cash flow, contracts, intellectual property, trademarks, among others, can be used as an alternative option to traditional collateral on real estate.

Additionally, the law passed by the Legislature on April 30, also allows for current assets or rights given in contracts, equipment, accounts receivable, chattels, crops, tourist bookings and even future rights to the value of timber to be taken into account. The bill is awaiting the signature of the President of the Republic, and subsequent publication, and the issue of the relevant regulations by the General Superintendence of Financial Entities (SUGEF).

Costa Rica: Objections to Proposed Cap on Interest Rates

September 2013

The Board of the Central Bank says that any attempts to control prices and restrict competition will drive the informal economy. reports that "The Government submitted, in late August, to the Legislative Assembly a Bill on Consumer Rights in relation to Usury in Credit Cards."

Caps on Interest Rates in Costa Rica

August 2013

A bill proposes to limit interests on all forms of credit, prohibiting setting interest rates unilaterally.

A press release from the Ministry of Economy, Industry and Trade of Costa Rica reads:

The President of the Republic, Laura Chinchilla Miranda, Vice President Luis Liberman and the Minister of Economy, Industry and Trade, Mayi Antillon Guerrero, today introduced a bill that seeks to establish limits to define credit usury, through the establishment of economic indicators that would be adjusted periodically.

Authorities Promote Exporting Consortia

May 2013

In Costa Rica recommendations have been made for the creation of a Law for the Promotion of Competitiveness of SMEs including promoting Consortia for Exporting.

From a press release from the Ministry of Economy, Industry and Trade of Costa Rica (MEIC):

The Ministry of Economy, Industry and Commerce (MEIC), through its International Cooperation Department, in conjunction with the United Nations Industrial Development Organization (UNIDO), has conducted a round table meeting in order to promote the development of the "Law for the Promotion of Competitiveness of SMEs through the model of Consortia in Costa Rica".

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