The National Insurance Institute has announced it will modify two regulations so that non irrigated rice crops can once again receive coverage which was suspended earlier this year.
Rice farmers who grow grain on unirrigated land may be eligible sometime before March to be covered by the National Insurance Institute (INS) which suspended coverage earlier this year. The state run company sought to protect itself in the face of losses of up to $4 million caused by a high claim rate in 2015 for those crops.
The importing company Maquila Lama claims that proposal to reform the rules on sugar fortification is an attempt to restrict imports of the grain.
The company Maquila Lama is opposed to the decree which is aiming to amend a regulation on sugar fortification promoted by the Ministry of Health, arguing that besides being discriminatory, it could restrict imports of the product from Brazil and any other country of origin.
Running counter to a recommendation from the OECD to strengthen the independence and resources of work by the bodies that oversee competition, the Ministry of Finance will be intervening in the Commission's own tasks.
An article on Crhoy.com reports that "... A restructuration managed from the office of the Minister of Economy, Welmer Ramos, has resulted in the temporary disintegration of the Commission for the Promotion of Competition (COPROCOM) from 1 July. "
Gross inconsistencies in the labeling of bags of cement are rocking the boat again in a market convulsed by the importation of products from China.
Complaints have been made about the differences in the use by dates recommended on the product misleading consumers, causing questions to be raised by other cement sellers.
Six financial institutions have been authorized to provide loans under the conditions imposed by the Development Bank, with interest rates of 3% in dollars and in line with the passive base rate in colones.
Welmer Ramos, chairman of the Governing Board of the Development Banking System commented that "... 'These programs involve interest rates that are half the rates that currently exist for the same activities.'"
In April 2013 the credit card portfolio in the country grew at a rate of 24%, well above the 10% growth recorded in the same month this year.
The slowdown in economic activity, greater awareness in the use of debt and changes in the regulations requiring risk ratings from the banking system are some of the reasons behind the decline in the growth rate of the number of plastic cards circulating in the country.
Costa Rican importers of cement from China have received the technical approval for its sale, and announced that it will be sold just over $10 per 50 kilo bag.
The Ministry of Economy, Industry and Commerce (MEIC) authorized the sale in Costa Rica of Chinese cement of the brand Sinocem arguing that "... there is no objection to the use of that product and it does not compromise the safety of persons."
Businessmen in Costa Rica recognize the progress made by the government, but are calling for an acceleration in the process to eliminate the duplication of paperwork which still prevails in several institutions.
Currently we have a clear agenda to deal with the Ministry of Agriculture and the Ministry of Economy, Trade and Industry regarding outstanding issues and the reduction in the number of requirements for starting a business and those for established businesses.
72% of the credit and debit cards circulating in the country have interest rates in colones ranging from between 40% and 50%, while the default interest varies from 24% to 65%.
The Executive argues that foreign companies planning to invest in the country desist from doing so if they are not provided with tax incentives and the possibility of paying differentiated wages.
The Government is continuing to put pressure on Congress to approve the Investment and Employment Act which has been temporarily suspended due to several actions of unconstitutionality presented before the Court. State representatives say that if the option of differential wage is discontinued permenantly, several foreign companies will desist from making investments in the country.
Despite objections from the construction sector, the new regulation eliminates the maximum weight of 50 kilos per package and indicates that the recommended use by date should be established by a certified laboratory.
The construction sector is warning of loss of quality in the product, if the government approves the decree changing the rules for storage and packaging of cement.
In the coming days a decree amending regulations on cement will be published, "... without waiting for the outcome of a commission of experts," led by the National Institute of Technical Standards (Inteco). Representatives from various sectors affected by the change in the rule argue that "... Technical studies show a decline in quality if [cement is] stored beyond 45 days ", as proposed by the new regulation.
Within the Economic Council of Government Luis Guillermo Solís' ministers are divided with some favoring openness to international trade, and others wanting to protect vulnerable sectors.
The Ministry of Foreign Trade, which is in favor of accession, argues that there are free trade agreements with member countries of the Alliance, meaning that they would only be strengthening commercial ties. On the other side, the Agricultural lobby is against it and states that accession would mean that sectors which have been protected in these agreements would be left vulnerable.
A subsidiary of a Chinese cement company was registered in the country in November and since December preparations have been made for changes to the regulation of cement sales, making the shelf life of the material more flexible.
The company Sinocem de Costa Rica SA, part of the JCB Group, is looking to import cement into the country taking advantage of "... The longer shelf life which allows the long journey from China and would provide a margin for its sale."
O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...
español
1989