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."
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
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).