Peru’s finance chief advocates for tax reforms to stimulate forestry and fishing sectors, aiming for competitiveness with Chile and Ecuador. A special economic zone near Chancay port is proposed to attract growth with a 0% income tax policy. Despite concerns about lost revenue, the strategy emphasizes long-term job creation and economic revitalization.
Peru’s finance chief is advocating for significant tax reforms aimed at fostering economic growth. The focus of these reforms is on enhancing tax incentives, particularly for the forestry and fishing sectors, to increase competitiveness against nations like Chile and Ecuador. The government is open to input from industry groups, emphasizing a cooperative approach in developing these proposals.
A notable component of the economic strategy is the establishment of a special economic zone near the new Chancay port. This area, previously a quiet fishing village, is expected to promote industrial growth, supported by an initial 0% income tax policy. Finance Chief Salardi acknowledges concerns regarding potential lost revenue but asserts that the region’s current lack of economic activity mitigates those worries. He emphasizes the benefits of job creation and long-term industrial development over immediate revenue apprehensions.
Data from IndexBox highlights the significant untapped potential within Peru’s strategic sectors. The global market for forest products is anticipated to experience substantial growth by 2026, while fishery production is also expected to rise. These statistics underline the government’s strategic foresight in revitalizing these vital industries to strengthen the national economy and enhance overall growth prospects.
In summary, Peru’s finance chief is promoting comprehensive tax reforms designed to stimulate key industries, notably forestry and fishing, through enhanced incentives. The proposed special economic zone near Chancay port represents a proactive step toward industrial growth, despite some concerns regarding immediate fiscal impacts. Overall, the potential for growth in these sectors reflects a strategic vision aimed at bolstering Peru’s national economy.
Original Source: www.indexbox.io
