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Report | The Report: Peru 2019

Peru has seen relatively stable economic growth and significantly reduced the number of people living in poverty. Still, there have been multiple cases of corruption, but the government of President Martín Vizcarra Cornejo, who took office in 2018, has focused efforts on combatting this and stabilising the political climate. Nevertheless, challenges to ensuring sustainable development remain.

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Chapter | Legal Framework from The Report: Peru 2019

This chapter introduces the reader to the different aspects of the legal system in Peru, in partnership with RGB Avocats. It also contains an interview with Ricardo Guevara Bringas, Corporate Lawyer and Partner, RGB Avocats.

Chapter | Tax from The Report: Peru 2019

In conjunction with EY Peru, this chapter explores the taxation system and Peru’s efforts to build an investor-friendly environment. It also contains an interview with Humberto Astete, Tax Partner, EY Perú.

Chapter | Education & Health from The Report: Peru 2019

Efforts to reform the education sector, boost teacher salaries, provide qualitative assessment and coordinate national education policy are areas being targeted by the government, while the skills mismatch between graduates and the private sector, the urban-rural gap, and underperforming private primary and secondary schools highlight other areas that require attention. Local authorities and international organisations have already taken steps towards overcoming these challenges, and the government appears to be on track to achieve its bold education objectives. With increased funding, the government laid out a series of initiatives aimed at increasing access to and improving the quality of health care, which should help achieve universal coverage by 2021 and further improve health indicators. Although challenges remain, particularly with a rural-urban divide and a shortage of doctors and medical specialists, Peru’s is strengthening its health infrastructure. This chapter contains an interview with Angela Flores, Executive Director, National Association of Pharmaceutical Manufacturers.

Chapter | ICT from The Report: Peru 2019

A highly competitive market has ensured mobile usage has expanded rapidly, and companies continue to invest in the networks, despite finding their margins squeezed. In some ways, Peru is playing technological catch-up. Key indicators lag behind similar economies in the region, and slow progress in rolling out regional fibre-optic networks has stalled the government’s plans to digitally connect the entire country. However, a competitive market pushing operators to improve services and lower prices means that there has been progress in mobile coverage. With one of the most positive economic outlooks in Latin America, stable domestic demand and impressive growth in new segments such as agri-business, Peru certainly has the potential to be a centre for innovation. More agile government policy, including digitalising the state apparatus itself, could see Peru become a major player in the Fourth Industrial Revolution. This chapter contains an interview with Mariana Costa, CEO and Co-founder, Laboratoria.

Chapter | Tourism from The Report: Peru 2019

While Peru’s rich and diverse cuisine continues to attract visitors, demonstrated by a range of quality eateries in Lima and the proliferation of Peruvian restaurants around the world, Machu Picchu remains the number-one attraction for visitors. Named the “World’s Leading Tourist Attraction” for 2018, the historical site is seeing faster-growing tourist rates than the country overall. Herein lies the main challenge for the industry: diversification. Greater connectivity and infrastructure efforts in other regions – particularly the north – is hoped to pull tourists to different parts of the country and see them engage in adventure and nature tourism in addition to visiting cultural sites. This chapter contains an interview with Eduardo Ibarra, Hotels Business Unit General Manager, Grupo Los Portales.

Chapter | Agriculture from The Report: Peru 2019

Increased investment and the expansion of irrigated land along the Peruvian coast has ensured the continued development of large-scale industrial agriculture for over two decades. After introducing dozens of new products, local agri-business firms have successfully expanded and diversified Peru’s agricultural export base. Meanwhile, increases in production and exports occurred despite the effects of the El Niño climatic phenomenon, which caused crop damage in 2017. Certain hurdles still need to be addressed for Peru to move from being a regional agricultural leader to a global one. In the coming years, ongoing public programmes to assist small-scale farms should help ensure that producers are more integrated into the export industry. In addition, the development of value-added services could see the sector play an increasingly important role in the future of the country’s economy. This chapter contains an interview with Édgar Vásquez Vela, Minister of Foreign Trade and Tourism.