Nearly 250,000 micro and small enterprises (SMEs) in Peru, along with around 2,000 larger companies, face potential risks due to an impending regulatory change in the electricity market that could increase energy prices. The Supreme Court's recent ruling mandates the Ministry of Energy and Mines (Minem) to regulate natural gas prices used for electricity generation, which may lead to a 35% tariff hike for industrial users. This increase could severely impact SMEs, particularly those in manufacturing, by raising production costs and potentially leading to business closures. The Asociación Pyme Perú and experts like Luis Espinoza highlight the economic strain this could impose, especially during the ongoing pandemic.

The Museo de Arte de Lima (MALI) faces uncertainty due to the construction of an entrance to the central station of Lima's Metro Line 2, which could affect the museum's structure. The museum's general manager, José Antonio Ríos, and art history specialist José Javier Pérez Rodríguez express concerns about the potential impact of vibrations on the historic building. The lack of clear communication from the Autoridad del Transporte Urbano (ATU) exacerbates these concerns. The construction could also reduce access to workshops and courses, affecting the museum's revenue. Additionally, the museum was not informed about a new pipeline construction by Serpar, which could further impact its operations.

The article discusses the fuel shortage crisis in Loreto, Peru, following the seizure of Petrotal's vessels by indigenous groups. José Luis Medina, Petrotal's Sustainability Manager, highlights the risks to the region, including potential environmental disasters and economic losses. The conflict stems from disagreements over a proposed fund for local development. Authorities are urged to restore order and ensure the safety of the region's fuel supply.

Claudia Cooper, president of the 35th Perumin mining convention in Arequipa, emphasizes the significant potential of the mining sector to contribute to Peru's economy, with a project portfolio capable of attracting $53 billion in investments and creating 3.9 million formal jobs. She highlights the need for a long-term vision for the sector, addressing the challenges of dispassionate discussion and planning for future decades. Cooper stresses the importance of public-private collaboration and the role of the mining sector in economic reactivation, advocating for improved coordination between the Ministry of Economy and Finance and the Ministry of Energy and Mines.

The future of the Majes Siguas II irrigation project hinges on the actions of Arequipa's regional governor, Elmer Cáceres Llica. The project, which aims to develop 38,500 hectares for agriculture and create over 100,000 jobs, recently received legislative approval for a public budget modification to extend a sovereign guarantee. However, the concessionaire, Consorcio Angostura Siguas, is exiting due to ongoing governmental non-compliance. The project requires the signing of Addendum 13 and favorable opinions from various entities, including the Ministry of Economy and Finance. Local business leaders express concerns over the project's viability and criticize the governor's handling of the situation.

Peruvian businesses are increasingly worried about a potential Chinese monopoly in electricity distribution, with concerns centered on the acquisition of Enel by China Southern Power Grid. The fear is that this could lead to price hikes and concentration of power in Chinese state-owned companies, following the 2020 purchase of Luz del Sur by China Three Gorges Corporation. The Asociación de Empresarios de Gamarra, led by Susana Saldaña, voiced strong concerns about the impact on small businesses. The acquisition requires approval from Indecopi, which has yet to receive a request. The process could take up to 175 days if complications arise. Former Economy Minister Carlos Oliva noted the importance of regulatory vigilance to prevent abuse of market dominance.

The construction of the central station entrance for Line 2 of the Lima Metro poses a significant threat to the Museo de Arte de Lima (MALI), a historic building with nearly 150 years of history. MALI's authorities, led by José Antonio Ríos, have raised concerns about the potential impact on the museum's structure and have requested detailed information from the Autoridad de Transporte Urbano (ATU), which has yet to provide comprehensive responses. The situation has prompted MALI to file a legal request for access to the project's technical dossier. The case has also drawn attention from Prolima and UNESCO, emphasizing the need for thorough impact studies to protect cultural heritage. The ATU has assured that the construction will not harm the museum and will follow international standards, but definitive engineering studies are still pending.

Luis Miguel Castilla, former Minister of Economy and Finance, discusses the severe public management issues in Peru, emphasizing that creating specialized entities is not the solution. He highlights the economic impact of recent natural disasters, such as rains and landslides, on agriculture, fishing, and infrastructure. Castilla criticizes the focus on reconstruction over prevention and the inefficacy of government-to-government contracts without local technical capacity. He projects a modest economic growth of 2% for Peru in 2023, citing external and internal risks, including the potential effects of El Niño and global instability.

José Luis Escaffi, general manager of Escaffi Gestión Pública, discusses the challenges and obstacles in Peru's infrastructure projects, including issues with the second runway at Jorge Chávez International Airport, the Reconstruction with Changes program, and the Majes project. He highlights inefficiencies in public spending, noting that only 70% of allocated funds are typically spent. Escaffi emphasizes the need for better coordination among government levels and criticizes the handling of certain projects by regional authorities.

Tourism in southern Peru has plummeted due to social unrest and road blockages, redirecting national tourists to northern and eastern regions like Cajamarca and San Martín. Cajamarca's hotel occupancy is nearly at full capacity due to carnival celebrations, while San Martín, particularly Rioja, has seen a 90% hotel occupancy rate. The shift has benefited northern destinations like Piura and Tumbes, although the southern tourism circuit faces severe employment challenges due to the downturn.

Jorge Chávez Álvarez, former candidate for the second vice-presidency of Victoria Nacional and ex-president of the Banco Central de Reserva (BCR), denounces a false statement attributed to him supporting Pedro Castillo and denigrating Keiko Fujimori. He emphasizes the importance of preserving democracy and criticizes Perú Libre for lacking a concrete government plan. Chávez advocates for a governance pact between the presidential candidates to restore balance and dialogue in the country.

Analysts express concern over the potential negative impact of proposed legislative tax measures on Peru's economic recovery and employment. The Ministry of Economy and Finance argues that these measures will strengthen fiscal policy and increase revenue, but critics highlight the lack of solutions for high informality and tax evasion. Key measures, such as increasing mining royalties and rental income tax, are seen as detrimental. Experts suggest that the focus should be on broadening the tax base and addressing informality rather than increasing taxes on existing taxpayers.

The Peruvian Congress has approved a law capping interest rates, a move criticized by financial experts and institutions. The law grants the Central Reserve Bank of Peru the authority to set maximum and minimum interest rates, aiming to regulate the market. Critics, including the Ministry of Economy and Finance and various banking associations, argue that the law will push low-income individuals towards informal lending markets with exorbitant interest rates, thereby fostering usury. Financial institutions plan to challenge the law's constitutionality, fearing it will harm financial inclusion and competition.

The article critically examines President Pedro Castillo's proposal to nationalize the Camisea gas project, highlighting the potential legal and financial challenges. Experts argue that such a move would require congressional approval and fair compensation to the consortium, potentially leading to international arbitration and significant financial liabilities for Peru. Historical parallels are drawn with past expropriations, emphasizing the long-term economic consequences. The article underscores the complexity and potential risks of nationalizing a major energy resource.

Wait N’ Rest, a Peruvian startup offering personalized rest options in airports, aims to expand into the U.S. and Canadian markets. The company, already operating in Bogotá's El Dorado Airport, has received invitations to bid in North America, Canada, and Central America. CEO Duilio Sanguineti highlights the significance of entering these markets due to their higher adoption of self-service technology. The company plans to have 100 operational rooms worldwide by 2024 and is exploring additional service lines, including food and beverages. Future expansion into Europe and Asia is also being considered.

The government, through the state agency Perúpetro, is close to awarding three oil lots to Petroperú despite the company's significant financial losses and interest from five private companies. The decision, perceived as favoritism towards the state-owned company, has drawn criticism from industry experts like Víctor Gobitz of the Sociedad Nacional de Minería, Petróleo y Energía. The rapid approval process and lack of transparency have raised concerns, with calls for a statement from the Minister of Economy, Alex Contreras. The Contraloría General de la República is evaluating the allocation process.

The congressional committee responsible for pension reform in Peru lacks members with relevant experience in pension matters, raising concerns among analysts. Only one member, José Núñez, has a background in economics. Experts like Carlos Oliva and Diego Macera stress the importance of involving technical experts from institutions like the Ministry of Economy and Finance (MEF) and the Superintendence of Banking, Insurance and AFP (SBS) to ensure the proposals are technically sound and sustainable. The article highlights skepticism about the committee's ability to produce a viable reform without expert input.

Tourism businesses in Cusco, including restaurants, hotels, and transport services, are struggling to meet financial obligations due to ongoing roadblocks and unrest. The disruption has led to a breakdown in the payment chain, with many businesses unable to operate or retain staff. Financial institutions report that tourism-related loans are in default. The outlook for the first half of the year remains bleak, with anticipated cancellations of reservations. Industry leaders Berner Caballero and Juan Stoessel highlight the severe impact on the sector, with over 90% of accommodations closed and no income for the entire tourism supply chain.

The article discusses the recent resignation of Lorena Masías, the executive director of Fonafe, at the request of the Minister of Economy, Kurt Burneo, raising concerns about political interference in state-owned enterprises. Joaquín Rey, an economist from Videnza, highlights the risks of politicizing economic decisions, drawing parallels with the financial troubles of Petroperú. The text also touches on the potential reduction in mining investments due to political instability and the weakening of the Ministry of Economy's influence under the current administration.

The article discusses the financial feasibility of promises made by political parties in the current Peruvian election campaign. Luis Miguel Castilla, director of Videnza Consultores and former Minister of Economy, highlights the disconnect between these promises and fiscal reality. He criticizes parties like Peru Libre, Juntos por el Perú, and Acción Popular for proposing significant increases in public spending without clear funding sources, which he deems irresponsible. In contrast, parties like Avanza País, Victoria Nacional, and Renovación Popular are noted for their less onerous proposals. Castilla warns of the risks of repeating past economic mistakes, such as those during Alan García's presidency, which led to hyperinflation and increased poverty.

Gabriel Amaro discusses the opportunities and risks for Peruvian agricultural exports to China amidst its slowing growth. He emphasizes the need for Peru to focus on the broader Asian market and accelerate access to products like pomegranates, organic bananas, pecans, pitahayas, frozen fruits, and cherries. The upcoming APEC summit in Peru is seen as a strategic moment to enhance market access. Amaro also highlights the negative impacts of recent changes in the Agrarian Promotion Law, including increased informality and reduced wages for agricultural workers, and calls for a new economic reactivation plan and a comprehensive agricultural framework.

Carlos Bruce, a former congressman and minister, criticizes the current Peruvian government's handling of social programs and economic recovery, describing it as the worst administration in the country's history. He highlights the lack of creativity and transparency in social policies and expresses concerns about the construction sector's future. Bruce also defends Pedro Pablo Kuczynski against what he sees as unjust detention and criticizes the influence of Vladimir Cerrón on President Pedro Castillo's administration.

Juan Fernando Correa, president of CADE 2023, discusses the decision to hold the event in Cusco, emphasizing the importance of demonstrating that the rest of Peru matters to business leaders. He highlights the need for government policies to foster investment and economic activity. Correa supports Fernando Cillóniz's proposal for an autonomous national authority for health and education to ensure professional management. He also discusses the Empresa Anemia Cero initiative aimed at reducing anemia among children and pregnant women, with over 100 companies participating.

The article discusses concerns raised by Gianfranco Castagnola, executive president of Apoyo Consultoría, and Elmer Cuba, partner at Macroconsult, regarding a proposed rapid pension reform in Peru. The reform aims to create a unified pension system managed by a new public entity, the Organismo Público de Pensiones, which would integrate current public and private pension systems. Critics argue that the proposal lacks clarity, risks mismanagement, and unfairly redistributes contributions, potentially impacting millions of Peruvians' future pensions. They call for more proactive and thoughtful solutions from the government.

Juan Fernando Correa, president of CADE Ejecutivos 2023, emphasizes the importance of citizen participation in strengthening democracy and clarifies that Sada Goray is not a businesswoman but a corrupt individual.

Rosa María Flores-Aráoz, general manager of Kallpa, warns that a proposed regulatory reform in Peru's electricity sector could lead to higher prices for citizens and businesses, benefit a select group of industry players, and undermine legal security. She criticizes the role of Luz del Sur in promoting the reform and emphasizes the potential negative impacts on competitive tariffs and market stability. Flores-Aráoz highlights the importance of maintaining stable regulatory conditions to encourage investment and warns that the proposed changes could significantly increase electricity costs for both industrial and residential users.

The article discusses Alfredo Thorne's views on the proposal by the Special Commission for Pension System Reform, led by Carmen Omonte, to create a Public Pension Organization. Thorne clarifies that his original proposal differed, focusing on centralizing administrative costs and ensuring private ownership of pensions. He expresses concerns about the commission's approach, which he believes could lead to a regression towards a public distribution system rather than individual capitalization. Thorne emphasizes the importance of a well-considered pension reform that addresses the core issues of the system, including the retirement age and the need for consensus in the legislative process.

Felipe Morris, an economist and columnist, critiques the proposed pension reforms by the Peruvian Congress, highlighting the lack of clarity and potential risks. He argues that the reforms ignore recommendations from key financial institutions and could jeopardize the future of retirees. Morris advocates for a unified system with individual capitalization complemented by a state-guaranteed minimum pension, rather than the proposed mixed system. He also emphasizes the need for technical rigor and warns against hasty, large-scale changes without thorough analysis.

Víctor Gobitz, who will preside over the Perumin 36 Mining Summit, emphasizes the need for a cohesive mining policy in Peru. He reflects on President Dina Boluarte's recent speech, noting her focus on public and private investment and the importance of addressing illegal economies. Gobitz highlights the potential for a petrochemical plant project and stresses the necessity of public-private collaboration to attract foreign investment. He also discusses the agenda for Perumin, which includes tackling illegal mining and developing mining projects in regions like Cajamarca and Piura. Gobitz calls for a national dialogue to create a comprehensive mining policy.

Hotels on the northern beaches of Peru expect summer occupancy rates to range between 60% and 70%, down from the previous expectation of 70% to 80% due to recent protests. Carlos Viñas del Vivero, president of the Tumbes Regional Chamber of Tourism, noted that cancellations from Ecuadorian tourists have significantly impacted reservations. Despite this, a 70% to 80% occupancy rate is projected for New Year's. Tourism groups will meet with the Ministry of Foreign Trade and Tourism to discuss interregional flights from Cajamarca and Tarapoto to Tumbes and Piura as part of recovery initiatives.

The article discusses the impact of the fourth industrial revolution on Peru and Latin America, highlighting the need for new skills and knowledge to adapt to technological advancements. The World Bank report emphasizes the importance of preparing the workforce for future changes, particularly in the service sector. Experts like Juan Carlos Carrillo from IBM and Álvaro Castro from ABB outline the challenges and necessary steps for successful digital transformation, including infrastructure improvements, business model innovation, and cybersecurity measures.

Carlos Neuhaus, president of the Asociación de Centros Comerciales y de Entretenimiento del Perú (ACCEP), discusses the challenges faced by shopping centers and other businesses due to temporary closures and measures imposed by municipalities. He highlights the negative impact on employment and investment, calling for a change in municipal behavior to promote economic growth. Neuhaus also touches on the importance of political stability and the potential economic impact of the upcoming Fiestas Patrias and El Niño phenomenon.

Gonzalo Galdos emphasizes the necessity of economic growth for development, highlighting the importance of investment. He critiques the lack of optimism from the presidential message and stresses the need for private sector involvement in economic recovery. Galdos discusses the potential benefits and challenges of Peru's role in the Alianza del Pacífico and APEC, advocating for improved public services, formalization of small businesses, and transparent governance in state enterprises like Petroperú. He underscores the importance of balancing fiscal accounts and enhancing economic activity to foster sustainable development.

Micro and small enterprises (MSEs) supplying the state have been impacted by road blockages, risking timely delivery of goods to public institutions. They have requested the Ministry of Economy and Finance (MEF) to grant an additional 15 days for deliveries. Susana Saldaña, president of the Asociación Empresarial Gamarra Perú, emphasized the need for this measure. Businessman Lelis Ulloa shared his challenges in delivering uniforms amid disturbances. Nearly 100,000 textile MSEs have been affected by strikes and roadblocks.

Hugo Perea, former Deputy Minister of Economy and chief economist for Peru at BBVA Research, provides an analysis of the Peruvian economy, indicating that a significant rebound is not expected. He anticipates a better performance in the second half of the year but does not foresee any miracles.

Eight regional governments in Peru have spent less than 10% of their allocated health investment funds, with Tacna and Lambayeque among the worst performers. Despite the arrival of new governors, regions like Ayacucho and Tumbes have managed to spend a significant portion of their budgets. Former Health Minister Abel Salinas attributes the issue to a lack of leadership from the national government, which should act as a decentralizer of bureaucratic barriers.

Labor Minister Fernando Varela discusses President Dina Boluarte's promise to increase the minimum wage in Peru.

Diego Macera, Director of the Instituto Peruano de Economía, discusses the economic growth data for June, which may not be very positive. He emphasizes that the message on July 28 should include commitments extending to 2026 to instill confidence.

The article discusses the impact of El Niño on the Peruvian anchoveta fishing season, with expert Luis Icochea emphasizing the importance of exploratory fishing to determine the start of the season. Despite challenges, the anchoveta biomass remains stable, supporting 750,000 people and generating significant revenue. Icochea suggests patience and further exploratory fishing to assess conditions, highlighting the well-managed state of Peru's anchoveta resources compared to Japan's practices.

Patricia Barrios, president of CADE Universitario 2023, discusses the significance of creating debate spaces for youth to understand and engage in politics for the country's progress. The event, featuring over 400 young leaders from 13 regions of Peru, focuses on reflecting on democracy, inspiring collective solutions, and defining actionable commitments. Barrios highlights the high participation of women and the multidisciplinary nature of the event. The initiative aims to empower youth to take a leading role in strengthening democracy and addressing current challenges with optimism and a sense of collective responsibility.

Juan Carlos Mathews, the head of Mincetur, discussed trade agreements in Asia, expectations for domestic tourism in Peru this year, and measures to support tourism companies facing financial difficulties. He highlighted a progressive recovery in Cusco and projected an increase in tourist numbers. Mathews mentioned ongoing negotiations with Indonesia and Hong Kong, with the latter potentially concluding by the end of 2023. He also noted efforts to modernize older trade agreements, such as with China, and the resumption of talks with India. Domestically, he addressed the reprogramming of debts for tourism companies and the positive impact of promotional activities on internal tourism.

Liliana Picasso, entrepreneur and second vice president of Ahora Perú, discusses the challenges faced by the tourism sector in Peru, including the aftermath of the pandemic, social conflicts, El Niño phenomenon, and dengue fever alerts. She emphasizes the need for tourism to become a state policy and for the government to strengthen the sector institutionally. Picasso criticizes regional governors for their lack of knowledge in tourism, poor infrastructure, and connectivity, and highlights the absence of crisis management and prevention measures. She also mentions the impact of recent health alerts on tourism in the north of Peru, leading to canceled reservations and potential new poverty hotspots.

Samuel Dyer, entrepreneur and president of Grupo Pro Amazonía, believes in the integration of the Amazon, development without deforestation, and the feasibility of a train connecting the Peruvian jungle with the coast by 2050. This vision aligns with the agenda of the IV Congress of Amazonian Entrepreneurs, which will feature regional governors, mayors, and commerce chambers from the Amazon, as well as the international GCF. The congress will discuss a strategic plan for the Amazon's economic drivers, emphasizing the forest sector's potential to become the second-largest after mining. Dyer advocates for a train route for its cost-effectiveness and lower environmental impact compared to roads.

Víctor Gobitz, president of SNMPE, discusses the current state and future of the mining sector in Peru, emphasizing the need for better investment strategies and efficient project management. He highlights the operational resilience of the mining industry during climatic crises and the importance of robust planning and execution at regional and local government levels. Gobitz also addresses the necessity for government entities like Senace and ANA to have adequate resources to expedite project approvals. He calls for a long-term vision in voting for political leaders and stresses the potential of mining clusters in northern Peru to enhance economic impact.

Juan Fernando Correa, president of CADE 2023, emphasizes the importance of generating investment to address economic challenges in Peru. The discussion highlights the role of CADE in fostering economic growth and the need for strategic investments to overcome current hurdles.

Credicorp has recently put forward a proposal for reforming the Private Pension System amidst ongoing discussions about overhauling Peru's entire pension system. Alejandro Pérez-Reyes, the company's Chief Operating Officer, shared insights with Perú21TV, emphasizing the company's aim for the reform to be as beneficial as possible.

Credicorp has proposed a reform for the Private Pension System in Peru, focusing on inclusivity, openness, and shared risk. Alejandro Pérez-Reyes, the company's operational manager, discussed the proposal with Peru21, highlighting initiatives to integrate informal and low-income independent workers into the system, allow more asset management competitors, and offer a choice between fixed and variable commission fees. The proposal has been shared with regulators and received feedback, aiming to contribute to the ongoing pension reform debate and achieve the best possible outcome.

Carlos Paredes, former president of Petroperú, discusses the appointment of Pedro Chira as the new board president of the state-owned company, expressing the need for independent professional leadership. He criticizes the government's decision to allow Petroperú to operate Talara oil lots without a strategic improvement plan, emphasizing the company's lack of capital and experience for such investments. Paredes questions the role of the Ministry of Energy and Mines (Minem) and its head, Óscar Vera Gargurevich, in these decisions, urging clarity on whether they represent the interests of all Peruvians or a 'great brotherhood.' He also reflects on the influence of the Ministry of Economy and Finance (MEF) on Petroperú's governance and the serious debt situation addressed by the IMF. The article highlights the ongoing case of Hugo Chávez, former Petroperú president under Pedro Castillo's government, suggesting accountability for past management decisions.

67% of Peruvians expect unemployment to rise next year, according to Ipsos' Global Inflation Monitor. The survey, conducted in 29 countries, also reveals that 63% of Peruvians anticipate an increase in inflation. Despite these concerns, the percentage of Peruvians expecting higher unemployment and inflation has decreased compared to previous surveys. Additionally, 50% of respondents believe the country is in recession, influenced by recent economic challenges such as protests, roadblocks, and natural disasters. Experts like Carlos Casas and Hugo Perea provide insights into the economic slowdown, inflation trends, and their impact on consumer behavior and purchasing power.

Heavy rains in northern Peru and Cyclone Yaku have led to a significant increase in wholesale food prices, particularly for lemons, which have seen a 264.02% price surge in the last fortnight. The price of a kilo of lemons in a crate in Lima Metropolitan went from S/2.39 to S/8.7 between March 1 and 14. Other products from regions like Piura and Lambayeque have also become more expensive, albeit to a lesser extent. The AGAP reports hundreds of hectares of crops, mainly from small farmers, have been damaged. The Universidad del Pacífico warns that the humidity and high temperatures are conducive to pests, and the basic food basket could require up to 80% of the income of those in poverty, up from 40% in January.

A violent attack on the aquaculture company Piscifactorías Los Andes in Puno resulted in the loss of 200 tons of trout intended for export, valued at approximately $1.2 million. The attack involved physical assault on two security guards and significant property damage, including the destruction of equipment and the release of fish. The incident is linked to ongoing social unrest and blockades in the region. Business associations like the Sociedad Nacional de Pesquería and ADEX condemned the violence and called for government action to identify and punish the perpetrators, highlighting the broader economic implications and the need for stability to attract investment and create jobs.

Ports in Pisco, Ilo, Matarani, and Salaverry have stopped receiving cruise ships due to ongoing social conflicts and road blockages, particularly affecting southern regions of Peru. Several cruise ships, including Seabourn Quest and Silver Moon, have rerouted to Chile instead. Eduardo Jáuregui, president of the Paracas Chamber of Tourism and Foreign Trade, blames the Parliament for not expediting elections, causing significant economic damage to small and medium-sized tourism and hotel businesses. Cruise ships are seen as vital for tourism recovery, with visitors spending an average of $100 per person.

Peru, the world leader in table grape exports, is at risk of losing its position due to roadblocks that have prevented shipments, particularly affecting the Ica region. The disruptions have led to a significant reduction in exports and raised concerns about customers turning to other countries. The grape industry is also facing employment challenges, with up to 110,000 workers affected by the halt in activities. The financial impact extends to lost additional income for workers during the peak harvest season. The situation is compounded by similar issues affecting blueberry exports.

Peru is facing a complex situation due to violent protests against the government of Dina Boluarte. Gianfranco Castagnola argues that the country is paying for the mistake of electing Pedro Castillo, but believes that removing him has improved the situation. He highlights the lack of political forces to mediate between the population and decision-makers, leading to uncertainty. Castagnola identifies three groups involved in the protests: peaceful supporters of Castillo, radical violent groups, and those linked to illegal economies. He criticizes the Congress for inaction on early elections and emphasizes the economic impact of the crisis, particularly on inflation, investment, and key sectors like mining, agriculture, and tourism. He concludes that the state's fragmentation and political institutional failures have contributed to the current crisis.

Oscar Caipo, president of Confiep, met with the Minister of Labor, Eduardo García, to discuss expectations for 2023, emphasizing the need to recover social peace following recent events. The meeting, attended by representatives from various business guilds, was described as cordial and a good start for addressing issues. Caipo highlighted the importance of stability for economic activities, including tourism and agriculture. He also expressed a positive view on the appointment of Contreras as Minister of Economy, citing continuity in economic recovery plans initiated under the Impulso Perú program.

Small businesses in Peru are experiencing significant financial losses, estimated between S/170 million and S/200 million daily, due to road blockades and protests during the holiday season. The Unión de Mypes del Perú highlights the impact on sectors like commerce, manufacturing, and tourism, with disruptions in supply chains and unfinished production processes. The organization urges authorities to secure airports and clear roads to restore visitor flow, crucial for economic activity in various cities during this period.

Three prominent women, including Attorney General Patricia Benavides, People's Defender Eliana Revollar, and President of the Judiciary Elvia Barrios, emphasized the importance of institutional integrity and combating corruption at the CADE Executives forum. Benavides highlighted the constitutional demand against President Pedro Castillo, stressing the Congress's responsibility. Revollar pointed out the lack of management in social conflicts and the need for better resource utilization. Barrios underscored the significance of judicial independence and the increasing presence of women in power. The event concluded with calls for private investment and dialogue to address Peru's challenges.

Carlos Añaños, founder of Grupo AJE and president of Patronato de Pikimachay, discusses the need for optimism and effective management in Peru amidst political and economic turbulence. He emphasizes the importance of business confidence for economic growth and criticizes the government's handling of political issues and agricultural policies. Añaños calls for tangible actions from the government and acknowledges the contributions of the business sector to the country's export growth. He expresses concern over the high turnover of government ministers and its impact on stability and investment.

Felipe Valencia-Dongo, the president of CADE 2022, emphasizes the urgent need for private investment, a functional state, and solid institutions to address Peru's political, social, and economic crises. The event, returning to in-person format after three years, aims to provide actionable solutions for both the public and private sectors. Key figures, including the Minister of Economy and other state officials, are expected to participate, highlighting the collaborative effort required to drive national progress.

The Chavimochic irrigation megaproject's third stage in La Libertad, Peru, is expected to resume only by 2026, with completion anticipated around 2028. This delay affects the projected 120,000 jobs for the region. The Cámara de Comercio de la Libertad estimates that diagnosing the current state of the works, contract liquidation, technical file preparation, and international bidding processes will take years. Criticism is directed at the Ministry of Agriculture for poor management and lack of expertise, particularly noting the dismissal of an experienced official, Hugo Obando, by Minister Jenny Ocampo. The project, which includes the construction of the Palo Redondo dam and other infrastructure, aims to create 30,000 hectares of new export crop areas.

The new labor code proposed by Betssy Chávez, head of the Ministry of Labor and Employment Promotion, is criticized for benefiting only 8% of workers in Peru, mainly those with indefinite contracts and union members. Consulting firm Apoyo Consultoría highlights the code's rigidity and increased labor costs, such as shorter fixed-term contracts and restrictions on certain types of dismissals. The proposal has not been debated in the National Labor Council, a tripartite social dialogue mechanism, but this is set to change. Business confederations like Confiep have expressed hope for a more fruitful consensus, noting that agreements had already been reached on 85% of the related topics.

The article discusses the historical context and events leading to Bolivia's loss of access to the sea during the War of the Pacific (1879-1883), involving Bolivia, Chile, and Peru. It highlights the breach of a territorial treaty by Bolivia, which led to the conflict, and the subsequent military and diplomatic actions. The article also touches on recent discussions and historical attempts to negotiate Bolivia's maritime access, including efforts by various leaders and the temporary concession of coastal territory by Peru.

Alonso Segura, former Minister of Economy, critiques the current government's economic policies, expressing concerns about the Ministry of Economy and Finance's (MEF) decision-making and its influence on the president. He highlights the Central Bank's significant role in stabilizing the currency and warns about the potential loss of independence of the Fiscal Council if the MEF changes its members. Segura also discusses the challenges of economic growth projections for 2022 and the implications of increasing the minimum wage on small businesses.

The Quellaveco mining project in Moquegua, with an investment of up to $5.5 billion, is 80% complete and is expected to begin copper production in the first half of 2022. Carlos Ojeda of Anglo American Quellaveco stated that full capacity is anticipated by 2023. The project is set to generate 29,000 jobs and will be Peru's first digital mine, utilizing smart mining technologies such as autonomous trucks and drones. Claudia Vivanco highlighted the project's innovative approach and its commitment to using 100% renewable energy sources.

Rosario Bazán, co-founder of Danper and president of CADE 2021, emphasizes the need for the Peruvian government to prioritize social investment in health, education, and infrastructure. She highlights the importance of private investment for economic growth and job creation, while also calling for careful evaluation of the second agrarian reform to avoid negative impacts on the export sector. Bazán criticizes the ineffective use of tax revenues by various levels of government and stresses the need for clear policies to promote responsible private investment.

The mining sector in Peru is experiencing uncertainty due to unclear government policies, particularly regarding the concept of 'social profitability' introduced by President Pedro Castillo. Industry representatives, including Pablo de la Flor of the SNMPE and Roque Benavides of Compañía de Minas Buenaventura, express concerns about the lack of clarity and the need for a predictable, stable, and transparent regulatory framework to attract private investment. The sector is highly regulated, with large and medium-sized companies already adhering to high standards. The government is urged to define 'social profitability' and improve trust among investors to facilitate economic growth, especially during the current health and economic crisis.

The M. J. Bustamante de la Fuente Foundation has announced the winners of its Bicentennial Professional Career Contest, recognizing individuals for their contributions to Peru's development. The awards, determined through a national survey by Ipsos Perú, will be given to anthropologist and historian Ruth Shady, current president of the Central Reserve Bank (BCR) Julio Velarde, and former Foreign Minister Fernando de Trazegnies in the fields of history, economics, and law, respectively. The physical award, a statuette by the late Peruvian painter and sculptor Fernando de Szyszlo Valdelomar, will be presented virtually due to the pandemic.

The Peruvian Congress has approved a controversial bill to create a state-owned airline, LAPERU, funded by regional contributions and private capital. Critics argue the project is unnecessary and could jeopardize over 45,000 jobs in the aviation sector. Leonie Roca of AFIN and Carlos Gutiérrez of AETAI highlight the potential negative economic impacts, while Diego Macera of IPE recalls the costly failure of AeroPerú. The article suggests the government should prioritize urgent health, economic, and social issues instead.

The Peruvian Congress is reviewing eight legislative proposals that could lead to further withdrawals from the private pension system (SPP), potentially leaving an additional million affiliates without pension savings. Previous fund release measures have already left 2.1 million affiliates without coverage. Economists and the president of the Association of AFPs, Giovanna Prialé, warn that the system is being destroyed, with withdrawals potentially reaching up to S/70,000 million if 10 UIT are allowed to be withdrawn. The debate is occurring in a political and electoral context, with experts like Iván Alonso criticizing the initiatives as excessive and politically motivated.

José Luis Silva Martinot discusses the challenges faced by the restaurant industry in Peru due to COVID-19 restrictions, emphasizing the need for extended deadlines for the Reactiva Perú program and other supportive measures. He criticizes the current and past government actions, suggesting that without significant changes, the industry may not survive. He also highlights successful measures taken by Colombia and Chile as potential models for Peru.

José Luis Chicoma, head of the Ministry of Production of Peru, outlines the challenges faced by the manufacturing sector, restaurants, and micro and small enterprises (MSEs) due to the COVID-19 pandemic and the expectations for recovery in 2021. The government is monitoring the pandemic daily and implementing temporary measures prioritizing health and economic impact. The manufacturing sector, especially non-primary manufacturing, was significantly affected in 2020, with textiles and clothing dropping by approximately 35%. An estimated 10% of MSEs did not generate sales at the end of the year. The government is focusing on programs like Compras a Myperú to support MSEs, addressing execution bottlenecks, and planning to fully execute a budget of S/920 million by July 2021. Initiatives include accelerating the adjudication of the Ancón Industrial Park and executing 17 industrial park projects and supply markets, with the Gran Mercado de Belén in Iquitos expected to be completed by the end of 2021. Two tables are being launched to promote digitalization and access to credit in the gastronomic sector, which is a significant source of employment. The CITEs are set to expand, supporting the productive and innovative sectors with technical assistance and guidance.

Carlos Casas, former Deputy Minister of Economy and professor at the University of the Pacific, emphasizes the need for a balance between economic recovery and public health amid the COVID-19 pandemic. He expresses cautious optimism about economic recovery, highlighting the challenges of achieving pre-pandemic employment levels and the potential impact of political and health uncertainties on private investment. Casas suggests that targeted lockdowns and phased economic reopening could be more effective than a full lockdown. He also stresses the importance of private investment for job creation and long-term economic stability.

Analysts and former economy ministers in Peru warn that a rushed pension system reform, planned before December by the Congressional Commission for Comprehensive Pension System Reform, could negatively impact the economy and job creation. The proposed Public Pension Agency (OPP) has raised public concern, particularly regarding its potential control over investment decisions, which could affect fund profitability and future pensions. Ex-SBS head Juan José Marthans argues that a reform carried out in a few months could limit local companies' ability to expand and create jobs. He advocates for a less politicized, more thorough debate on the reform, especially outside the context of presidential elections.

Miguel Incháustegui, the head of Peru's Ministry of Energy and Mines, discusses upcoming regulatory changes in the electrical sector, asserting that these changes will not lead to increased electricity tariffs for households and businesses. He highlights several mining projects set for 2022, including Pampa de Pongo and Zafranal, and addresses the progress of key projects like Quellaveco and Mina Justa. Incháustegui also emphasizes the importance of social and financial viability for future projects and mentions the potential of lithium mining in Puno. He reassures that the new regulations will not negatively impact renewable energy companies and outlines the ongoing work of a commission focused on the country's electrical system reform.

In Peru, over 1.6 million people are associated with savings and credit cooperatives, which hold over S/7 billion in deposits. However, only 164 out of 322 cooperatives report financial information to Fenacrep, the entity responsible for their supervision. Carlos Butrón from the SBS highlights the risks of money laundering and lack of protection for associates' savings, as nearly 50% of cooperatives are unsupervised. Fenacrep lacks the capacity for proper supervision and is not authorized to impose sanctions. A law project proposing SBS oversight has been stalled in Congress since 2013. Congressman Víctor Andrés García Belaunde confirmed the proposal is ready for debate, but there is a lack of interest among legislators. The SBS advises caution with cooperatives offering unusually high interest rates on deposits.

Lima has the potential to develop over 405,000 social housing units to meet the demand for 458,716 homes in the next two years, as identified by Capeco's 2015 Metropolitan Lima Demand Study. The construction of 140,000 units could reduce sector informality from 70% to 20%, contingent on increased service coverage and construction licensing. Capeco's executive director, Guido Valdivia, emphasized the need for urban planning programs in more cities, while the deputy minister of Housing and Urbanism, Ricardo Vidal, indicated that the MVCS is adjusting the good payer bonus, potentially increasing it in April. The creation of Inadus aims to provide cities with urban management tools without adding bureaucracy, focusing on areas needing programs like Techo Propio.

The new State Procurement Law in Peru has sparked controversy between the private sector and the Supervisory Body for State Contracts (OSCE). The Lima Chamber of Commerce (CCL) criticizes the law for reducing payment advances for works and potentially increasing bureaucracy in arbitration. The OSCE defends the changes, aiming to prevent stalled projects and increase transparency. Amidst these debates, congressman Modesto Julca has proposed a bill to repeal the law.

Peru will host the Asia-Pacific Economic Cooperation (APEC) forum for the second time, with the main objective being to conclude a study for developing a free trade area in the Asia-Pacific region. The event will take place from November 17 to 19, 2016. Edgar Manuel Vásquez Vela, the Deputy Minister of Foreign Trade and Tourism, discussed the forum's goals, including promoting the formalization of SMEs, trade facilitation, and fostering regional value chains. Initiatives such as the Sepymex insurance for pre- and post-shipment credit and funds to support the internationalization of SMEs are being prepared. The forum is seen as an opportunity to strengthen trade relationships with Asia-Pacific economies, with non-traditional exports to APEC countries being significant for Peru.