Julio Velarde: “To increase competitiveness we have to simplify processes”

The president of the Central Reserve Bank of Peru (BCRP), Julio Velarde, highlighted that one of the factors that has contributed to the growth of our economy has been mining investment. However, “to increase competitiveness we have to simplify the processes and, to do so, the support of the unions will be important,” he emphasized during his presentation on the last day of the SYMPOSIUM – XV International Mining Meeting organized by the SNMPE.

The banker pointed out that Mining investment represented 13% of total private investment between 2000 and 2023and it is expected that at the end of this year it will achieve a growth of 7.8%.

However, he also expressed his concern about the excess of procedures in our country, since, from his reading, this would complicate public and private investments in the mining industry.

“It is correct to create institutions like the Ministry of the Environment (Minam), but sometimes, these organizations generate more bureaucracy, and it always happens, but it is necessary to have efficient technical management”, he concluded.

“Less bureaucracy would translate into higher GDP”

Along the same lines, Diego Pereira, head of JP Morgan Chase & Co. for South America, explained that digitalization in State processes would help reduce bureaucratic procedures. He argued that Without the delays in mining investment projects, our Gross Domestic Product (GDP) would be 10% higher.

“By making certain administrative procedures difficult and generating inefficient bureaucracies, there is a delay in investment in projects in the country. If I had avoided it [estos retrasos]From 2008 onwards, the per capita in Peru would have been approximately 10% higher,” he stated.

For her part, Claudia Cooper, vice president of Sustainability and External Affairs at Antamina, stressed that the current paperwork in the country delays private investments and, therefore, economic development.