Executive prepares simplifying shock to accelerate private investment

The Executive Branch presented this Thursday the United Plan, which consists of 25 measures to keep the Peruvian economy afloat, in a year marked by the slowdown in GDP.

Within its package, it is committed to a simplifying shock in private investment, which establishes:

• The improvement of the Single Text of Administrative Procedures (TUPA) to allow positive administrative silence if it is appropriate to apply it.

• Optimize Law No. 31589 in order to provide entities with greater tools and reactivate a greater number of paralyzed works.

• Improve management of construction licenses so that authorization is given in a maximum of three months.

• Simplify the selection procedure for contracting medium-sized works.

Facilities will also be provided for obtaining the environmental impact study, which is why they seek to extend DL No. 1553 with which these procedures were expedited for projects that are executed fast track (which will be in force until 2024).

“Peru has the luxury, unfortunately in local governments, of stopping investments that can generate employment and we want to avoid that,” mentioned the head of the MEF, Alex Contreras.

It should be added that for this year, private investment is expected to contract 5.3%.

Finally, mining and electrical projects will also be unblocked, which have portfolios of US$46,657 million and US$1,548 million, respectively.