It was promulgated on February 3, 2017, Law 37-17, which reorganizes the Ministry of Industry and Commerce to be called the Ministry of Industry, Commerce and Mipymes (MICM).
Under the new law it is established that the MICM "is the governing body and is responsible for the formulation, adoption, monitoring, evaluation and control of policies, strategies, general plans, programs, projects and services in the sectors of industry, exports, domestic trade, foreign trade, free zones, special regimes and Mipymes, including the marketing, control and supply of the market for oil products and other fuels, in accordance with the guidelines and priorities of the Central Government”.
Within its powers, the law establishes that it can "establish the national policy and apply the strategies for the development, promotion and competitiveness of the industry; domestic trade, including marketing, control and supply of the market for oil products and other fuels, " said a note from its Director of Communications. To establish the direction of foreign trade, together with the competent institutions to facilitate the access and sustained increase of national products and services in external markets; of free zones and special regimes, and Mipymes, among others.
In addition, the MICM is responsible for implementing policies aimed at guaranteeing the supply of fuels at a national level and the security of facilities for its importation, storage, transportation, distribution and wholesale and retailing. To analyze and decide, through a resolution of the Ministry, on applications for concessions, licenses, permits or authorizations, relating to the activities of commercialization of oil and other fuels, general warehouses, classification of electricity generating companies, and other matters of its competence, as well as its expiration or revocation.