秘鲁营商及投资指南2023-英-313页_5mb

Summary of Peru's Business and Investment Guide 2023

Core Content

Peru is a constitutional democratic republic with a multi-party system and a unicameral Congress of 130 members. The government is directly elected, and voting is compulsory for citizens aged 18 to 70. The President, elected for a five-year term, appoints the Prime Minister and the Cabinet, while the legal system is independent and operates under the 1993 Constitution.

Economic Overview

Peru has demonstrated macroeconomic stability and is considered one of the leading emerging markets in Latin America. The country has experienced an average annual GDP growth rate of 4.4% from 2000 to 2022, and despite the impact of the pandemic, it achieved a rapid recovery with a 13.6% growth in 2021. The Central Reserve Bank (BCRP) maintains a base interest rate of 7.75% as of July 2023, and the country has a low fiscal deficit and public debt ratio, with debt at 34% of GDP in 2022 and projected to be 32.1% in 2024. The fiscal deficit is expected to remain below 2% of GDP.

Peru also has a trade surplus of over USD14.3 billion in 2023 and has maintained single-digit inflation for 26 consecutive years. The country's economic policies emphasize free market principles, openness, and integration with global markets, which have helped reduce poverty from 58.7% in 2004 to 25.9% in 2021, and extreme poverty from 17.1% to 4.1% in the same period.

Investment and Business Climate

Peru is actively promoting a favorable business environment through various mechanisms, including:

• Trade Agreements: Peru has 22 trade agreements covering 92% of its exports, providing preferential access to over 58 international markets.
• OECD Membership: Peru is in the process of joining the OECD, which will require reforms and institutional strengthening, enhancing its attractiveness to foreign investors.
• Regional Integration: Peru is a founding member of the Andean Community (CAN), the Pacific Alliance (PA), and participates in other global and regional processes such as APEC and WTO.
• Infrastructure Development: The government has prioritized infrastructure development, including the creation of a large Special Economic Zone in the center of the Peruvian coast, and has launched several public-private partnership (PPP) projects in sectors such as mining, energy, water, health, education, and transportation.

Investment Promotion

The government and agencies like ProInversión, the Private Investment Promotion Agency, work together to attract and promote foreign investment. ProInversión currently promotes a portfolio of 63 projects totaling USD11 billion, including:

• Water and Sanitation: 13 projects with USD1.5 billion in investment.
• Electricity: 26 projects with USD2.1 billion in investment.
• Health: 8 projects with USD1 billion in investment.
• Education: 5 projects with USD600 million in investment.
• Transportation and Communications: 6 projects with USD4.7 billion in investment, including the Peripheral Ring Road and the Longitudinal de la Sierra Highway.
• Other Sectors: Industrial parks, hydrocarbons, and telecommunications projects.

Legal and Regulatory Framework

Peru offers legal stability and constitutional guarantees for foreign investment and private property. The country has implemented special regimes to ensure investment stability, including double tax avoidance treaties and legal stability agreements. Peru is also part of the Pacific Alliance, which facilitates trade and investment with other Latin American countries.

Taxation

Peru has a comprehensive tax system that includes:

• Direct Taxes: Income tax, corporate tax, and capital gains tax.
• Indirect Taxes: Value Added Tax (VAT), excise duties, and customs duties.
• Municipal Taxes: Vary by locality and include property tax, business tax, and other local levies.
• Customs Regime: Provides a structured framework for international trade and investment.
• Special Tax Regimes: Includes the Early VAT Recovery System and tax reimbursements for specific sectors.

Labor and Employment Law

Peru has a structured labor system with regulations on hiring, fringe benefits, taxes and contributions on remuneration, and termination of employment contracts. The country has also repealed the Agrarian Labor Regime, aligning labor laws with modern standards. Additional measures were introduced during the COVID-19 crisis to support businesses and workers.

Business Incorporation

There are several legal forms for incorporating a company in Peru, including:

• Joint Stock Companies
• Closely Held Corporations
• Publicly Held Corporations
• Limited Liability Companies
• Branches

Each form has specific legal and administrative requirements, and the process is supported by various government and private entities.

Sector Analysis

Key sectors analyzed in the guide include:

• Mining: A major focus area for international investment, with significant natural resources.
• Financial System and Securities Market: Includes the regulation of the banking sector and the securities market.
• Energy: Emphasis on renewable energy and the development of the Integrated Natural Gas Transportation System.
• Electricity and Water: Infrastructure projects aimed at improving access and reliability.
• Construction and Manufacturing: Growing sectors with potential for investment and development.
• Trade and Domestic Consumption: Strong domestic market with a growing middle class.
• Agriculture and Agribusiness: Key sector with opportunities for investment and expansion.
• Fisheries: An important part of the country's economy and natural resources.
• Tourism, Cuisine, and Hotel Management: A growing industry with potential for foreign investment.

Intellectual Property Regulations

Peru is a member of the Paris Convention, and has established a legal framework for the protection of intellectual property, including:

• Supervisory Bodies: Responsible for enforcing IP laws.
• Copyright: Protection for literary, artistic, and scientific works.
• Industrial Property: Includes patents, trademarks, and designs.

Environmental and Climate Change Regulations

Peru has a regulatory framework for environmental protection and climate change, including:

• General Regulatory Framework: Governs environmental compliance and sustainability.
• Climate Change and Energy Framework: Encourages sustainable development and green financing.
• Circular Economy Roadmap: Aims to reduce waste and promote sustainable practices.

Contacts and Resources

The guide includes a directory of Peruvian embassies and consulates abroad, as well as contact information for regional governments and principal chambers of commerce. It also highlights the role of the Ministry of Foreign Affairs in promoting economic and investment opportunities globally.

Conclusion

Peru's robust economic performance, favorable business environment, and commitment to international integration and sustainable development make it an attractive destination for foreign and national investors. The country's legal and regulatory stability, along with its strategic trade agreements and investment promotion mechanisms, support a dynamic and growing economy. With its focus on infrastructure, human development, and environmental sustainability, Peru is well-positioned to continue its path of growth and development.