Jesús Salazar: “The business payment chain is having problems”

The president of the SNI, Jesus Salazarhopes to industrialize Peru from the regions to Lima in the next three decades, thanks to the exemptions that PL 5892/2023, the new industry law, provides to the food and agribusiness, fishing, textile, naval, and renewable energy sectors. , mining, ICT and forestry suppliers.

-Is a law needed to industrialize Peru?

-For a little over two years we have been talking about the need to industrialize Peru and for this we must create conditions. All the countries that have reached the first world have done so by promoting their local industry. And we have always talked about that this process must have three strategic axes.

-What would these axes be?

-Sector policy. Recognize that there are industries or sectors that have to be strengthened due to various factors: there may be an abundance of raw Materialscomparative advantages of Peru and, above all, because there is a global market that demands these types of products.

-The other two?

-Territorial approach. The industry should not be seen only from Lima, it must be homogenized. Peru has had economic growthbut many problems are developing.

We propose to industrialize from regions and for that we must create conditions. A third axis involves ensuring that these new industries are socially and environmentally responsible, a difficult but necessary task.

-Basically, they are asking for tax exemptions.

-What stands out the most and provokes debate are the tax incentives. We are not discovering gunpowder, but taking everything the world did and continues to do. To attract investments in Southeast Asia, Central America or Uruguay, incentives are generated. If we want to bring capital, we need to be on par with the world.

-Incentives for everyone?

-This law tells us about sectors. There appears the debate with some more liberal economists, they say that the market should be the one that defines the sectors; criticisms that go beyond the technical. In the first instance, eight strategic sectors have been defined. Can there be more? Yes, but justified.

-Is there previous experience?

-A fishing and aquaculture law recently came out. Two big mistakes: it was limited to strengthening investment in small industry, and benefits within 1 or 2 years. If we want to attract investment, large capital has to come, not just small industry. Nor can we talk about large investments in manufacturing in the short term; The law would have to be in place for the next 20 or 30 years, at least.

-20 or 30 years?

-Yeah. This law should have its first measurement in 2050. We have made some calculations, and if the eight sectors are promoted from this year, we believe that it could reach around US$20,000 per capita or reduce poverty by about 10 points. They are fundamental topics.

-What other tax measure?

-These sectors that demand capital goods, such as machinery, for example, would enter with accelerated depreciation of 3 years. This helps recover capital and generates movement in investment to attract technologies.

-Wouldn’t it affect revenue in the middle of a recession?

-That observation is not valid because we are not talking about today’s market or today’s companies. This law is not retroactive, we are talking about a future market that would be created. So, where is the impact on the fiscal coffer? They are not looking at the future of Peru that the law pursues.

-But isn’t there a risk of promoting fiscal dwarfism or the refoundation of companies?

-No, on the contrary. The project talks about driving companies for companies that link micro and small entrepreneurs. Benefits are not being given in exchange for nothing; Companies have to reinvest their profits in technology, machinery, new jobs, expansion of operating locations, and increased exports. We ask that you commit to growth.

-And as for the special economic zones?

-There is already a bill presented by Congressman Salhuana, with whom we recently visited Uruguay, a country that has developed its EEZ. The Minister of Economy there explained that for every dollar that was given in exemption per zone, the return has been between 6 and 8. It is highly beneficial to grant exemptions in SEZs dedicated to exports.

-Is the MEF’s United Plan not enough, then?

-They have collected part of the recommendations of the SNI. However, when we are in crisis, 2 or 3 specific measures are chosen to work on. If we are going to do 25 things, it leads to dispersion and losing the focus that reactivates. This is not the time for medium and long-term measures; If I want to remove the emergency, immediate implementation measures are needed..

-How do you rate the plan?

-The great focus for reactivation is placed on mypes. However, within the 25 measures, I highlight that of growing Impulso Perú to S/15,000 million and that it is no longer only for micro and small businesses, but without a level of distinction. It has been very positive because at this moment the business payment chain is having problems.