Peru's Ministry of Economy and Finance says it will launch a deregulatory shock. The proposal aims to strengthen business confidence and investments.

Peru's Ministry of Economy and Finance (MEF) said today that it is preparing to implement a first round of deregulatory measures that will help consolidate business confidence, boost private investment and promote economic growth.

Following a second meeting with business associations, the minister of the sector, José Salardi, stated that his portfolio will work jointly with the private sector to launch, before July, a first package of measures aimed at deregulation and debureaucratization of state processes, in order to reduce the waiting time for developing a project.

"The idea is to have a first package by July. The private sector has presented us with a series of proposals that will be reviewed in regular meetings (every 15 days) to determine the viability of each one," he said.

"Then we will launch a second stage. We cannot waste any more time as a country. We have to advance in our development and the interaction with the private sector will be very healthy to work in that direction," he stressed.

Salardi said that this package should include all investment proposals with a medium-term impact.

"In this regard, the MEF is already working on proposals that will soon be shared with the private sector," he noted.

The Minister of Economy and Finance expressed his commitment to support measures that establish locks to avoid affecting domestic savings, such as the withdrawal of funds from AFPs and CTS deposits.

He also argued that measures should be taken to rebuild our capital market and provide tools to leverage investments in the country.