Minister of Economy: “Free zones have existed in Peru for more than 30 years and they have not worked”

Consolidating Peru as the port hub of Latin America is the goal that the Government has set. In that sense, the Minister of Economy and Finance, Alex Contreras, He pointed out that in a couple of weeks they will have the bill ready to create the Special Economic Zones (SEZ). with a different approach than the Free Zones, which are territories that enjoy certain tax benefits to promote international trade.

“I believe that, in a couple of weeks, we will send to the Congress of the Republic the first project for the creation of Special Economic Zones, with a different approach. Free zones have existed in Peru for more than 30 years and have not worked. We have taken the experiences that have worked and we want to use the Ancón Industrial Park as a first case,” Contreras announced during his presentation at the Latin American Cities Conference (LACC) forum.

Regarding the Special Economic Zones, he announced that they will be administered by private parties, and they would be public or private territories. In addition to tax benefits, other advantages will be generated that will allow attracting export-oriented investments. Everything will aim to consolidate the country as an export platform.

Besides, They are on the verge of awarding the Ancón Industrial Park, stated the head of Economy.

The minister explained that, despite the fact that since 2019 it was known about the construction of the Chancay Megaport, complementary infrastructure was not planned, which should be a state policy. For this reason, as an example, they are working to give a boost to the naval industry.

“In three weeks we must have the strategic partner of SIMA, which will precisely be in charge of producing a series of ships and will generate the strengthening of capabilities to be able to provide maintenance to these Post Panamax ships in the medium term,” he said.