The Peruvian government's National Plan for Productive Diversification (PNDP), aimed at providing development alternatives that ensure the country’s economic growth, is on the right track, according to the Economic Commission for Latin America and the Caribbean (ECLAC).
The chief of the Unit on Investment and Corporate Strategies at ECLAC’s Division of Production, Productivity and Management, Giovanni Stumpo, said Peru is making headway and results will be available in one or two years.
“This depends on how difficult it is to restructure some sectors and generate new ones,” he was quoted as saying by Andina news agency.
In this sense, he pointed out some sectors are easer to stimulate than others. That is why, in some cases, results can be seen as early as one or two years, while in others one may have to wait from four to five years.
“Since China, the world's biggest consumer of metals, is growing slower and foreign investment is falling, ECLAC suggests that countries like Peru and Chile push towards a more diversified productive structure to complement the economic development secured by the metal mining sector,” he added.
In addition, Stumpo claimed that Peru has great potential in all aspects related to mining, that is, as providers of services and capital good suppliers, which may be in its incipient stage; however, "we must take advantage of the natural resources available within the nation in order to develop related industries rather than creating brand-new ones."
(END) JJN/AQR/RMB
Published: 10/27/2014