As part of the Peruvian Government's strategy to make the production sector inclusive, innovative and sustainable, Produce is helping to fund around 2,500 innovation and entrepreneurial projects with almost 100 million soles ($26.5 mn). The initiative is mainly destined to small companies and startups.
Argentinean online marketplace Mercado Libre will be working with the Ministry of Production in order to digitalise 5,000 micro and small companies. The aim of this alliance is the move from traditional shopping to online shopping and the enablement of digital payments.
Sunat, the Peruvian tax and customs authority, reported that over 120,000 people had already obtained their digital tax number on their mobile phone or computer, therefore allowing them to access employment or start a business.
After 10 years of research, Peru's National Institute for Agricultural Innovation introduced the 440-Kanchared flour wheat, resistant to crop disease and water stress. This new wheat variety of excellent quality has a yielding capacity of up to 5,000 kg per hectare, that will help small producers increase their revenues.
During the Week of Intellectual Property, Indecopi reported that the removal of the fees to register a collective brand generated a 9 million soles ($2.38 mn) saving for entrepreneurs and artisans. The decision to eliminate this tax should also help reactivate the economy of these sectors.
Peru approved a loan agreement for up to 54 million euros with the German state bank KfW, in order to partially fund the programme of Promotion and Sustainable Management of Peru's forestry production. The debt will have to be repaid between June 2026 and December 2038.
The important activity in self-construction, private and public projects, boosted the construction sector in Peru to grow by 14.3% in February, compared to February of last year. Peruvians' budgeting habits changed with the pandemic and led to more investments in improving and repairing their homes. That is also why the internal cement consumption grew by 16% in the same month.
Industries related to Culture went from generating 13.4 billion soles ($3.57 bn) in 2010 to 18.6 billion soles ($4.97 bn) in 2018 thanks to copyright, according to Indecopi. This increase reinforces the importance of copyright in the protection and creation of Peruvian ideas' economic value. In addition, employment in the sector increased by 11% over the same period.
Peru's Government authorised the Ministry of Energy and Mines to transfer over 200 million soles ($52.8 mn) in order to finance works to develop the regions of Ayacucho, Apurímac, Cusco y Loreto.
Cofide, Peru's state-owned development bank, awarded a total of 54.9 million soles ($14.82 million) to the CMAC of Arequipa, Cusco, Huancayo and Piura, to support the tourism and agricultural sectors. Around 29.9 million soles ($8 million) and 25 million soles ($6.7 million) are respectively dedicated to the FAE-Tourism, the fund to support micro and small businesses in tourism, and the FAE-Agro, the fund for the agricultural sector.