In July 2008, Peru became the 41st country to adhere to the OECD Declaration on International Investment and Multinational Enterprises. This review, undertaken as a part of Peru's adherence process, show the country's achievements in establishing an open and transparent regime with a limited number of restrictions, enabling Peru to rank among the most open economies.  Recent government initiatives seek to further reduce administrative barriers to investment, streamline and simplify investment incentives, and promote responsible business conduct practices.