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Law on Promotion, Support and Development of Micro, Small and Medium Enterprises (Law No. 645)
(enacted in 2008)
The Law on Promotion, Support and Development of Micro, Small and Medium Enterprises (Ley de Promoción, Fomento y Desarrollo de la Micro, Pequeña y Mediana Empresa (Ley MIPYME)) addresses issues of advocacy, promotion and development of micro, small, and medium enterprises (MSMEs) in Nicaragua. The law’s seven sections cover:
- General provisions;
- Matters concerning institutional organization of advocacy and promotion to MSMEs;
- Programs and acts of advocacy and promotion for MSMEs;
- Advocacy and promotion of the marketing ability of the MSMEs;
- Promotion of incentives;
- Matters concerning the sole registry for MSMEs and benefits, regulatory improvements and flexibility of procedures; and
- Violations and penalties.
DISCLAIMER: Due to the fact that an English translation was unavailable for this law, information for this summary has been taken from secondary sources and not from review of the actual legal text.