World Bank (WB) Director for Bolivia, Chile, Ecuador, and Peru Alberto Rodriguez affirmed the Inca country will make faster progress in infrastructure and innovation sectors thanks to the implementation of the National
Competitiveness and Productivity Policy (PNCP).
The official indicated Peruvian economy's growth rate is quite good but it is not as expected. Yet it is precisely plans of this type that could boost the expansion rate.
"A new noteworthy aspect in this document (the PNCP) is the inter-ministerial coordination," Rodriguez told El Peruano official gazette.
For instance, a boost of investment in public works and a further strengthening of private investment could be some early indicators.
However, improving competitiveness is a structural process that takes some time to complete, the World Bank representative pointed out.
The challenge is to gain Peruvian citizens' approval for this plan, so that future governments do not hinder the progress made.
Furthermore, the official believes quick results can be achieved in the infrastructure sector.
"Innovation is essential to boost competitiveness, and Peru invests little in this area. I hope this situation changes to get fast results," Rodriguez expressed.
On the other hand, he said the labor issue is an important part of the competitiveness strategy, thus it is a structural challenge that must be addressed.
(END) DOP/MDV/DTK/RMB
Published: 2/4/2019