The newly introduced system Invierte Peru —set to replace the National Public Investment System (SNIP)— will facilitate investments at all government levels, private-run Foreign Trade Society (ComexPeru) reported.
Said system is mainly intended to identify and prioritize projects aimed at closing social, economic gaps in the country, and speed up approval of projects thanks to less red tape.
“In this sense, Invierte Peru is portrayed as a positive alternative that will help unblock important projects and facilitate investment execution at all government levels,” it underlined.
Likewise, the business association warned this should not be the only measure to reactivate public investment.
“One more important issue is left, which has to do with strengthening and providing guidance to subnational governments in order to develop articulated projects with a long-term vision,” it pointed out.
ComexPeru stated the low execution rate for November this year stands out at only S/20.92 billion (around US$6.13 billion) according to Economy and Finance Ministry’s data.
Pro-investment measures should be taken not only by subnational governments, but by the national government itself, it explained.
(END) MDV/MDV/JHM/RMB
Published: 12/4/2016