Investment Act for the Puerto Rican Industry
Act 14-2004, as amended, offers competitive advantages to companies with substantial operations in Puerto Rico. The law creates a
Local Preference Program in Government Procurement. Accordingly, preference percentages are assigned to products and certain services provided by companies operating locally based on the type of process performed (manufacturing - 10%, assembly - 4%, packaging – 3%, distribution – 2%). This percentage represents a competitive advantage as it is deducted from the bidding offer which, if it turns to be the lowest, the purchase will be awarded to that participant. The agency conducting the purchase will pay the original tendered price.
The law also creates a "Set Aside" program. Accordingly, each agency of the executive branch, public corporations and municipalities have to maintain a 15% reserve to ensure the participation in public procurement of small businesses, cooperative enterprises and other preferred groups.
Solicitud Ley para la Inversión en la Industria Puertorriqueña
Certificación para pequeñas y medianas empresas (PYMES)
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