Description

In July 2008, Peru became the 41 country to adhere to the OECD Declaration on International Investment and Multinational Enterprises, in recognition of its significant progress in pursuing policy reforms to improve its business climate and reduce poverty. As an adherent to the Declaration, Peru commits to providing national treatment to foreign investors and to promoting responsible business conduct. The country in turn benefits from similar assurance from other adherents to treat Peruvian investors abroad fairly and to encourage multinational enterprises operating in Peru to contribute to economic, social and environmental progress. This Review, undertaken as a part of Peru's adherence process and in co-operation with Peruvian authorities, shows the country's achievements in establishing an open and transparent investment regime with a limited number of restrictions, enabling Peru to rank among the most open economies. Recent governmental initiatives seek to further reduce administrative barriers to investment, streamline and simplify investment incentives, and promote responsible business conduct practices. The Review reflects the OECD's mission to help all governments improve their investment climate through peer learning and the sharing of best practices.