Peru: Regulation of Law No. 29337 – Law Establishing Provisions to Support Productive Competitiveness (Supreme Decree No. 001-2021-PRODUCE)

Supreme Decree No. 001-2021-PRODUCE sets forth the procedures and methodology for implementing, executing, and evaluating the Initiatives to Support Productive Competitiveness, in accordance with the provisions of Law No. 29337. Its purpose is to promote the competitive and sustainable development of productive value chains in areas where private investment is insufficient. This regulation applies to the Ministry of Production, Regional and Local Governments, and Organized Economic Agents. The Initiatives to Support Productive Competitiveness (PROCOMPITE) consist of non-reimbursable co-financing, awarded through competitive processes, to business plans (productive proposals) submitted by beneficiaries, aiming to enhance the competitiveness of their value chains. The direct transfer of money and the financing of operational or maintenance expenses are strictly prohibited.