The Report: Peru 2017

  • ID: 4437452
  • Country Profile
  • Region: Peru
  • 248 Pages
  • Oxford Business Group
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Over the last decade Peru has consistently been the fastest-growing economy in Latin America, and unlike some of its neighbours, has been remarkably resilient to global headwinds, registering positive growth rates for an uninterrupted 18 years through to 2016.

While the pace of growth has slowed as the long commodities boom ebbed after 2012, Peru recorded an average annual growth rate of 5.9% in 2005-15, almost double the 3% rate for Latin America as a whole. Stakeholders and investors will now be looking to efforts by the new government, which took office in July 2016, to address problems, implement additional reforms and spur further economic growth.

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COUNTRY PROFILE
Fresh approach: The government aims to improve social services and revive the economy
After El Niño: The country reels from another coastal weather phenomenon, and focuses efforts on planning for reconstruction
Interview: President Pedro Pablo Kuczynski Godard
Interview: Ricardo Luna Mendoza, Minister of Foreign Affairs
From the top: An introduction to the country’s history and culture
Viewpoint: Steven Ciobo, MP and Minister for Trade, Tourism and Investment of Australia
Interview: Mauricio Macri, President of Argentina
A work in progress: Decentralisation efforts areunder way and gaining momentum
Interview: Walker San Miguel, Secretary-General, Andean Community

ECONOMY
Going strong: Unlike other countries in the region, Peru has been able to maintain stable growth
Viewpoint: Alfredo Thorne, Minister of Economy and Finance
Interview: Peter Shaw, Head of Latin America, Fitch Ratings
Ebb and inflow: A pipeline of projects should help to boost both public and private investment
All in: The government has recently introduced a new tax package
In the open: A new strategy is in place to help more workers move to the formal sector and under state regulation
Interview: Álvaro Quijandría, Executive Director, ProInversión

BANKING
A sound system: The sector remains strong and liquid, with the emphasis now shifting to loan growth
Interview: Julio Velarde, Governor, Central Reserve Bank of Peru
Fintech revolution: Advancing technology offers easy banking options
Interview: Miguel Uccelli, CEO and Country Head, Scotiabank Peru
A line of growth: Increasing financing options for small and medium-sized enterprises remains a priority

CAPITAL MARKETS
Up to the task: Reforms and economic growth have been a boon for the bourse
Interview: Marco Antonio Zaldívar, President, Bolsa de Valores de Lima
Time for change: Recent and upcoming reforms are transforming the sector
Market analysis & data provided by Scotiabank
Alicorp: Consumer goods
Still strong: Real estate presents a major investment opportunity
Expanding bond: Government bonds
Southern Copper: Mining

INSURANCE
Cover story: An underinsured base presents opportunities for growth
In good health: Private coverage grows in an increasingly middle-class market
Interview: Socorro Heysen, Former Superintendent, Superintendency of Banks, Insurance and Pension Funds Administrators of Peru
Interview: Eduardo Morón, President, the Peruvian Association of Insurance Companies

MINING
Excavating efficiency: Removing red tape to maximise potential
Edging up the ranks: Peru aims to be the primary copper supplier in Latin America
Interview: Carlos Gálvez Pinillos, Vice-President and CFO, Minas Buenaventura
Interview: Luis Rivera, Vice-President, Gold Fields Las Americas
Homegrown: The industry weighs up basing refineries in Peru

ENERGY
Stepping on the gas: Maximising hydrocarbons reserves remains a priority
Interview: Gonzalo Tamayo, Minister of Energy and Mines
Taking aim: Ambitious targets for renewable energy production spur growth in the segment
Interview: Carlos Temboury, Director and Chairman, Enel Generación

CONSTRUCTION & REAL ESTATE
Jump start: Resuming stalled projects and increasing investment are high on the government’s list to get Peru building again
Interview: Fernando Castillo, General Manager, ICCGSA
Driving initiatives: The country seeks to increase road connectivity at all levels
Diverse departments: Performance varies across segments, with residential and office space shifting to adapt to changing trends

INDUSTRY & RETAIL
Regaining momentum: Reforms in support of value-added industries and small businesses aim to boost sector growth
Interview: Alfredo Pérez, General Manager, Alicorp
Trading up: Exporters seek to target high-end markets by focusing on locally produced, quality textiles
Interview: Juan Pablo García Bayce, General Manager, Gerdau Siderperú
In demand: Prospects look bright as demographics drive consumer spending

TRANSPORT
Building for the future: Flooding in 2017 has created an impetus to invest further in transport infrastructure
Interview: Lizardo Helfer, General Manager, Cosapi
Interview: Félix Antelo, CEO, LATAM Airlines Peru
Development incentive: Lowering transport costs could help unlock economic potential

AGRICULTURE & FISHERIES
Expanding frontiers: A new sector development plan is set to stimulate growth
Interview: Juan Varilias, President, Association of Exporters
Superfood for thought: The launch of a new brand is set to stimulate agro-export performance amid rising global consumption
More fish in the sea: The normalisation of sea conditions in 2017 is set to aid the recovery of Peru’s fisheries sector

TOURISM
Taking off: One of the fastest-growing sectors shows no signs of slowing down
Chasing China: Concerted efforts to attract Chinese tourists appear to be paying off
Interview: Eduardo Ferreyros, Minister of Foreign Trade and Tourism

ICT
Dynamic growth: The sector has seen continued expansion, while competition is heating up as a result of new entrants
Interview: Gonzalo Martin Ruiz Díaz, Former President, OSIPTEL
Narrowing the gap: The country bolsters investment in infrastructure to expand access
Digital inclusion: As the fibre-optic network progresses, access to high-speed internet services broadens

INNOVATION
Igniting an industry: Government bodies dedicated to promoting innovation get to work
Unlocking potential: Government support and international loans help to develop niche sectors
From the ground up: Initiatives tackle innovation obstacles for small businesses
Interview: Gonzalo Villarán, Director of Innovation, Ministry of Production
Interview: Karl Maslo, Regional CEO, EXSA

EDUCATION & HEALTH
Renewed focus: Investment in schools increases as reforms gain momentum
Interview: Fernando D’Alessio, Director-General, Centrum Católica Business School
Interview: Carlos Heeren, CEO, University of Technology and Engineering
Appetite for health: Expenditure is set to rise as part of efforts to improve access to and quality of services

AREQUIPA
Diverse and expanding: Mining recovery drives growth, while export-oriented sectors and tourism offer opportunities for investment
Interview: Yamila Osorio Delgado, Regional President of ArequipaInterview: Diego Muñoz-Nájar, President, Arequipa Chamber of Commerce
Mine craft: Funding set to boost mining production, despite setbacks
Fabric of a nation: Arequipa sits at the centre of a growing global alpaca business
Interview: Michael Michell, Executive President, Michell Group

TAX
Pay up: Recent tax reforms are now in force
Interview: Paulo Pantigoso, Country Managing Partner, EY Peru

LEGAL FRAMEWORK
Detailed review: Laws get a renewed look, with simplification and their role in driving various parts of the economy in focus
State dedication: The current administration seeks to build flexible and attractive legislation for the benefit of investors and the general population
Interview: Fernán Altuve-Febres Lores, President, Ontier Perú

THE GUIDE
Divine beasts: Alpacas have long and storied history, which domestic fabric producers are working to capitalise on
Weary traveller: Selected hotels in popular cities
Listings: Telephone directory of government and business organisations
Facts for visitors: Essential things to know before your trip to Peru

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