Thailand Overseas Investment Center

According to the report released by the multilateral organization, our nation ranks 35 of 189 countries with better conditions for business. Thus, Peru ranks in the top five of the most attractive economies for investment.

In this regard, the Ministry of Economy and Finances (MEF) reported that this result indicates that the measures taken by the government, embodied in the Competitiveness Agenda led by the National Competitiveness Council, are beginning to be reflected in the rankings and is expected this to continue in the coming years.

Details

Peru became a benchmark for best practice in the world in some procedures, such as obtaining credit, where it ranks 12 ahead of developed economies such as England (position 17) and Germany (23); and registering property, where it ranks 26th, beating the United States (29) and the Netherlands (58).

While these results are promising, Peru still faces some challenges in issues in which efforts are made to continue improving the business climate in the country to attract more investments. Para the MEF, specifically, these challenges are focused in further shortening the deadlines, procedures and costs related to legal proceedings (100), opening of business (89), building permits (87) and resolving insolvency (76).

In these respects, he said, reforms were already showing results. "In enforcing contracts (legal proceedings), the reporting deadlines of judgments were reduced from 11 days (2012) to 7 days (2013), thanks to the implementation of mini notifications centrals, the interconnection of the courts with Public Records, setting up nine specialized courts in administrative litigation for Indecopi, Tax Court and Sunat; as well as the approval of the system of electronic seizures, "he said.

Also, the MEF stressed that reducing the time in the notifications and the best performance of judges by productivity incentives helped expedite the resolution of lawsuits; therefore, in 2012 increased by 15% the production of judgments in courts trade.

Opening and Licenses

In the opening track on business, the MEF said that the deadline for obtaining an operating license was reduced in 5.5 days in the municipalities of Lima (from 15 to 9.5 days) and 29 days in 146 municipalities in provinces (from 33 to 4 days). This was possible thanks to the technical assistance for the simplification of processes that has promoted the National Competitiveness Council (NCC) and the incentives created by the plan of municipal incentives. In addition, the requirements requested by the municipalities were reduced

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