Peru

Lorsqu'ils fixent les priorités des dépenses publiques dans les secteurs de l'éducation et de la santé, les gouvernements des pays en développement optent trop souvent pour des programmes coûteux qui ne bénéficient qu'à des segments spécifiques de la population et, en général, pas aux pauvres. C'est le cas en particulier de certains hôpitaux urbains et des universités. En revanche, les pauvres tirent davantage profit des dépenses consacrées à des programmes à vocation universelle, comme la construction de dispensaires ou d'écoles maternelles et primaires en milieux rural et urbain. Cet ouvrage plaide pour une réorientation des politiques en faveur de dépenses publiques de santé et d'éducation favorables aux pauvres.

When setting spending priorities in education and health, countries all too often target expensive schemes which can be shown only to benefit specific sections of the population, often the non-poor. The building of certain urban hospitals and universities may fall into this category. Wherever expenditure is directed to universal schemes, such as establishing rural and urban clinics, kindergartens and primary schools, however, the poor can be shown to benefit more. This book pleads for a series of policy orientations leading towards pro-poor health and education spending.

Peru enjoyed positive economic development for most of the 1990s, but experienced a slowdown after 1998. Political crisis followed in 2000-2001, resulting in new elections and a new government. The economy has since responded positively to government fi scal policy and social programmes have targeted the poor. Annual growth in real GDP per capita was substantial, rising from 3.4 per cent in 1993 to 4.9 per cent in 2002.

This book contains the results of peer reviews of the competition law and policies of Argentina, Brazil, Chile, Mexico, and Peru.  Each review  provides information on the history and economic context for competition law, an outline of the provisions of the current law and policies, a review of institutional issues, a review of competition policy in specific regulated sectors, a review of competition advocacy, and a set of conclusions and recommendations.

Peru is a developing country with a history of protectionism, “import substitution,” and substantial governmental involvement in the economy. These precluded sustained economic growth by cutting off foreign investment while wasting its own resources by subsidising inefficiency. By the late 1980s, Peru had a rapidly declining GDP and a four-digit inflation rate.

The Macusani uraniferous district (Puno Department) is located in southeastern Peru. The uraniferous mineralisation is found in acid volcanic rock from the Mio-Pliocene era, which fills the Macusani tectonic depression that overlies Palaeozoic era rocks.

Based on the Policy Framework for Investment, the analysis of Peru’s investment policy and investment promotion and facilitation shows that the country has made considerable progress in establishing an open and transparent investment regime. This is also reflected in a limited number of restrictions on foreign investment which Peru notified as exceptions to national treatment and the measures reported for transparency under the OECD Declaration on International Investment and Multinational Enterprises. Peru’s investment incentives are applied on a sectoral or territorial basis irrespective of investors’ national or foreign origin. Through its national policies and commitments in recent international agreements, in particular the Trade Promotion Agreement, signed with the United States, Peru has put a solid basis in support of human and labour rights and the environment and to promote responsible business conduct.

Stimulated by a favourable external environment and the government’s commitments to political and economic stability, Peru’s economy has recorded since 2002 the fastest growth in South America. Foreign direct investment inflows have started to rise since 2005 and reached a record level of USD 5.4 billion in 2007, an increase of more than 50% compared to 2006. As a result, the country’s inward stock surged to USD 24.7 billion in 2007. With 47% of total foreign direct investment, Spain and the United States are the major foreign investors. Among different sectors, telecommunications attracted 28% of total foreign investment, followed by mining (20%), manufacturing (18%) and the financial sector (16%). Since 2006, a number of large Peruvian companies have begun to invest abroad.

Alongside dynamic economic growth, foreign direct investment inflows have been rising since 2005 and reached USD 5.4 billion in 2007, an increase of more than 50% compared to 2006. Foreign investment has played a growing role in Peru’s recent development by stimulating its exports, providing new job opportunities and improving the quality of services and infrastructure. Peru pursues active international investment diplomacy and has become member of a number of regional and bilateral agreements.

Foreign enterprises and Peruvian enterprises owned in whole or in part by foreign nationals are not authorised to acquire directly or indirectly land or water (including mines, forest land or energy resources) located within 50 kilometres of the Peruvian border. Exceptions may be authorised by Supreme Decree approved by the Council of Ministers in the case of expressly declared public necessity.

This annex presents Peru’s FDI regulatory restrictiveness index, based on the OECD methodology (see Box), and its comparison with other OECD and non-OECD countries.

2003: Law No. 27,988; implements multifunds in the private pension scheme.