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Lima, Perú. December 12, 2017

Year of Good Citizen Service

Creation of Competitiveness and Formalization Council brings Peru closer to OECD

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    Photo: Cortesía

14:23.

Lima, Dec. 5.
Peru gets closer to the OECD with the establishment of the National Competitiveness and Formalization Council and the creation of the Urban Transport Authority for Lima and Callao (ATU), according to a study released by the international body.

The statements were made by Deputy Head of the Latin American and Caribbean Unit at OECD Development Centre, Sebastian Nieto Parra, as he presented the "Multidimensional Review of Peru: Volume 2. In-depth Analysis and Recommendations." 

These two issues are relevant to the recommendations the Organisation for Economic Co-operation and Development (OECD) gives to Peru: achieving economic and productive diversification, improving transport connectivity, as well as reducing informal employment in the country to attain inclusive and sustainable growth. 

On the one hand, there is the National Competitiveness and Formalization Council —formerly known as the National Competitiveness Council— while on the other hand there is the bill to create the Urban Transport Authority for Lima and Callao (ATU), he underlined.

Dealing with informality requires a comprehensive policy, which will be addressed at the Council and, at the same time, plays a key role in the dialogue with the country's private sector.

Sustained growth

According to Nieto Parra, Peru needs to achieve economic and productive diversification in a bid to become a high-income economy.

To that end, he said, the country has to grow at an annual per capita rate of 4.6% for 10 years so as to become a high-income economy in 2029.

In this regard, he stressed the need for policies to stimulate further spending and investment in innovation, as well as in development.

On Monday, the Organisation for Economic Co-operation and Development (OECD) presented the "Multidimensional Review of Peru: Volume 2. In-depth Analysis and Recommendations" at Lima's Universidad del Pacifico (University of the Pacific). 

(END) MDV/JJN/RMB/MVB

Published: 12/5/2017
Editora Perú