NO State Intervention

Arguing that the law of creation of the Nicaraguan Company of Imports and Exports attempts against free market, the business sector demands to abolish the proposal.

Thursday, October 25, 2018

The Superior Council of Private Enterprise (Cosep) strongly opposes the approval of the Law that aims to create the Nicaraguan Company of Imports and Exports (Enimex), which would allow the State to conduct commercial transactions.

For the guild of businessmen, the Political Constitution of Nicaragua establishes that the exercise of economic activities corresponds primarily to individuals, especially private enterprise.

See "State-controlled exports?" reports that according to Cosep "... With the creation of this company, the State would be failing to observe constitutional mandates referring to free and fair competition, when it is responsible for promoting and encouraging it among the economic agents of the private sector, as well as the constitutional provision referring to the obligation of the State to ensure equality of companies before the law and public policies."

The private sector explained that Enimex will have the power to make transactions of goods, merchandise, products and services in general, which would be an unfair competition, in the opinion of the business leadership.

Regarding the functions of Enimex, Article 2 of the law project details that the new State enterprise "... Shall have as its object to carry out transactions of goods, merchandise, products and services in general, acting even as buyer agent and discretionary seller of the State."

Two weeks ago, the Association of Producers and Exporters of Nicaragua expressed its concern about the proposal of the Ortega administration, arguing that it seemed like a return to the 80s, when the State had the monopoly of imports and exports, with the consequent negative results in the economy.

See initiative of the law of creation of the Nicaraguan Company of Imports and Exports ENIMEX. (In Spanish)

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