Legal Framework
From The Report: Peru 2014
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For the past two decades, the Peruvian legal framework has developed along similar lines, promoting foreign investment and competition, as well as social inclusion. This chapter highlights some of the most important recent changes that have occurred in the areas of mining, electricity, tax, employment of foreign nationals, corporate transactions, banking and finance. In addition, it features a viewpoint with Ismael Noya, partner, Estudio Echecopar, a member firm of Baker & McKenzie International, on Peru’s evolving business environment.

Articles from this Chapter

Overview

Established rules: Recent legislation brings added clarity
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The Peruvian legal framework continues to develop along the same lines as in the last two decades, promoting foreign investments and competition, while attempting to include the poorest groups in the country’s economic growth. The following text highlights some of the most important recent changes, which have occurred in the areas of mining, electricity, tax, employment of foreign nationals, corporate transactions, banking and finance. Mining Law Mining is the most important economic activity…

Viewpoint

Ismael Noya, Partner, Estudio Echecopar, a member firm of Baker & McKenzie International, on Peru’s evolving business environment
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In the early 1990s Peru changed its overall economic model, transitioning from a state-run, closed, over-regulated and nationalistic economy to an open, investment-friendly free market. From then on, the growth and development of the country started to depend more on private sector performance and less on what the state could or would do. The legal framework changed drastically to adapt to the new economic model, to the point that none of the laws I studied during law school remain in force. Notwithstanding…