#Nicaragua 🇳🇮 #BDS_LaborAlert: Increase in Minimum Wage for the Free Trade Zone Regime 2025
The “Tripartite Agreement on Salary, Social Stability, and Labor Competitiveness” was entered into...
On February 29, 2024, the National Minimum Wage Commission (NMWC) reached consensus for setting a 10.1% increase in minimum wages. This adjustment will be effective from March 1, 2024, and will remain in force until February 28, 2025.
The manufacturing industry under the Free Zone Regime had previously reached a tripartite salary agreement on October 21, 2022, with an 8% increase taking effect from January 1, 2023.
It should be noted that while wages may be freely negotiated between parties, they must never fall below the legal minimum as per Article 82 of the Labor Code.
The minimum wages effective from March 1, 2024 to February 28, 2025, are as follows:
1/ This sector includes food.
2/ Effective from 01/01/2024 to 12/31/2024.
We are available to assist you in you have any questions regarding the implementation of this wage adjustment.