Peru: National Industrial Development Policy

The Ministry of Production approved, through Supreme Decree No. 016-2022-Produce, the National Industrial Development Policy (PNDI), with the purpose of promoting the growth and strengthening of the manufacturing sector in the country. According to the policy, the goal to be achieved by 2030 is to make the Peruvian manufacturing industry more competitive and generate greater added value, thus increasing its participation in the national economy to represent 14% of the Gross Domestic Product (GDP). The PNDI prioritizes the increase of business productivity through the improvement and adaptation of financial instruments -both traditional and alternative- and the strengthening of mechanisms that promote the formalization of companies. It also seeks to promote the diversification and complexity of the products manufactured in the sector, expand the productive infrastructure and specialized services available to these companies, and optimize the institutional and regulatory framework governing their activities.