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OECD Investment Policy Reviews: Peru 2008

image of OECD Investment Policy Reviews: Peru 2008

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.

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Executive Summary

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.

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