Regarding policies for production transformation, Peru’s Plan Nacional de Competitividad y Productividad (PNCP) 2024-2030 integrates horizontal and vertical efforts to achieve systemic change in the country’s economy. This plan is the result of collaboration among 37 public and private institutions and includes 75 measures aimed at strengthening economic and social infrastructure, human capital, technological innovation, financing mechanisms and the creation of a dynamic and sustainable business environment. Among the most notable advances are the development of strategic industrial parks, the implementation of a digital collateral regime, the strengthening of start-up funds and the implementation of a tax incentive for investment in research, development and innovation projects. Since its start in 2024, 19.3% of the PNCP has been implemented.
Regarding public financing mechanisms for production transformation, the main mechanisms focus on financing and co-funding innovation and development projects through dedicated government programmes. In terms of tax incentives, while current tax policy guidelines emphasise the ongoing rationalisation of such benefits, targeted incentives have been introduced to support productive transformation. Notably, tax incentives for investment in research, development and innovation projects play a key role in fostering sustainable economic growth and enhancing the competitiveness of firms, particularly small and medium-sized enterprises. Additionally, sector-specific tax benefits – such as those for agriculture – remain in place. These are designed with built-in rationalisation mechanisms and are often phased out after a few years of implementation. Their impact is monitored by the Superintendencia Nacional de Aduanas y de Administración Tributaria (SUNAT), which publishes annual digital reports with information on beneficiaries, amounts and fiscal effects.
In terms of international partnerships for production transformation, Peru signed an expanded free trade agreement with China in 2024, and the inauguration of the Chancay Megaport, a major new gateway to Asian markets backed by China’s Cosco Shipping, has strengthened its role as a regional trade and logistics hub. The United Kingdom, via a memorandum of understanding, launched a joint technical committee with Peru’s ProInversión investment promotion agency to guide sustainable infrastructure and social projects according to international standards. The Inter-American Development Bank supported Peru’s leadership in public-private partnerships (PPPs) by hosting the PPP Americas 2025 forum in Lima, showcasing Peru’s USD 70 billion investment pipeline. In addition, the 2024‑2033 roadmap between Japan and Peru outlines a strategic partnership to promote trade, innovation and sustainable production transformation through investment, technology transfer and capacity building in key sectors such as mining, energy, agriculture and renewable industries.