New public purchases law will stimulate import substitution
With the approval of the bill by the National Assembly, products made in the country will have priority
The approval, by the National Assembly, of the Law on public purchases will allow the acquisition of nationally produced goods, which will promote the progressive substitution of imports.
Orlando Camacho, president of Fedeindustria and vice president of the Commission of Economy, Finance and National Development of the National Assembly, pointed out that “the bill contemplates recognizing the installed capacities, the talent and the existing machinery, so that those resources that the republic are used to their maximum capacity by the public sector and the private sector.”
The new law will be of great importance for the country because all public sector acquisitions: national, regional and municipal will have a “public purchasing system” where all the products made in the country, such as food, medicine and others have priority when the institutions carry out their operations.
According to what was expressed by Camacho, with the consent of this law the national government also aspires to save foreign currency “because it is not the same to import a product with 100 % of the currency than to bring imported or national raw material and add value and place it in the internal market, mainly in the public sector, because it generates income and employment for workers.”
The law would also benefit the private sector because they will be able to purchase goods manufactured in the country as long as they can satisfy the needs of supply and demand, as well as the quality of the products that meet the standards required by consumers.
New laws in the economy sector
The vice president of the Commission of Economy, Finance and National Development of the National Assembly indicated that there are several bills that are waiting to be approved before the end of 2021, among which are: the law to promote new enterprises, the law of special economic zones and the study to bring the digital commerce law to the first discussion.
The law of new ventures plans to promote the development of new companies, as part of the economic recovery of the country. For this it is necessary a greater fluidity in the procedures for the registration of the different enterprises, as well as the exemption of some national taxes in regional and municipal fields.
Source: el universal.com
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