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Government to implement a set of measures aimed at improving the business environment

Published on Thursday, June 12, 2014

Government to implement a set of measures aimed at improving the business environment

President Humala's announcement included changes in the tax system in order to reduce transaction costs, simplifying procedures for obtaining permits and licences, modifying some labour laws so that the costs that firms are facing can be brought to a more reasonable level (thus tackling informality), boosting investment in sectors such as mining, oil, and telecommunications, and speeding up state contracting processes. Hence, this set of measures is aimed at improving the business environment and thereby competitiveness, supporting Peru's potential output growth. Congress will discuss it in the coming days and we expect there will be consensus to approve and implement it as soon as possible in a context where economic activity has slowed down.

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