Peruvian President Pedro Pablo Kuczynski on Wednesday enacted the Law for the Promotion of Foreign Trade of Services in a bid to bolster tourism and revenue generation.
The law stipulates a General Sales Tax (IGV) exemption to facilitate the internationalization of foreign trade companies.
Speaking during the enactment ceremony at Government Palace, the Head of State reiterated the government's goal to increase
tourist arrivals to 7 million by the end of his term in office (2021).
"There's plenty of work; this [new law] will help us with the endeavor [of doubling tourist inflow]. A lot remains to be done, and we are well aware of that," the statesman affirmed.
The President underlined the measure comes at perfect timing, as it coincides with the "
green shoots" of Peruvian economy.
This, he noted, can be observed in "various domestic activities which —although slowly— are making
significant progress."
In this respect, Mr. Kuczynski referred to the mining sector, bouncing back driven by better
zinc and copper prices.
"We have the chance to have a well-diversified economy —with plenty of activities— and we must do so with optimism: always looking ahead despite the gloomy picture out there," he pointed out.
The event also saw the presence of Second Vice President Mercedes Araoz, Prime Minister Fernando Zavala and Foreign Trade and Tourism Minister Eduardo Ferreyros.
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