INVEST IN PERU
Peru is one of Latin America’ s largest and fastest-growing economies. The latter its due in part to Peru having one of the most investment-friendly environments in Latin America, being ranked as second in the region in the World Bank’ s 2018“ Ease of Doing Business index”.
Furthermore, our country has made progress in a series of regulations in order to become a member of the Organization for Economic Cooperation and Development( OECD) to strengthen its public policies. Recently, Peru joined two major OECD Conventions on Anti-Bribery and on Mutual Administrative Assistance in Tax Matters, which represent important steps towards fighting corruption and fostering greater transparency.
Private investment has led to growth and macroeconomic stability in Peru, becoming one of the pillars for the economic strengthening in the coming years. According to the Central Reserve Bank of Peru, private investment accounts for around 20 percent of Peruvian GDP, and was up by five percent in the first semester of 2018 compared to the previous year.
Many analysts concur that the main drivers behind Peru’ s impressive economic growth are strong mining investment and dynamic domestic consumption.
Infrastructure projects – Reconstruction Plan
The Peruvian government wants to reduce its infrastructure gap, specially affected during 2017 because of the El Niño phenomenon, which is characterized by heavy rains, landslides and floods.
Peru established and entity called The Authority for Reconstruction with Changes( RCC), to lead and implement a comprehensive plan to replace, rebuild and construct quality public infrastructure affected by said phenomenon. The total reconstruction investment amounts to $ 8 billion— or one percent of GDP, of which the health, education, and housing sectors will receive most of the reconstruction funding and all sectors will have a disaster risk management focus.
The programme’ s budget is divided into three main categories:
36 • Extraordinary and Plenipotentiary Diplomatist • Vol 6 • Issue 9 • September 2018, Noida