Interview: Carlos Cabanillas León and Fabiana Sánchez Di Natale.
Is there a concern about the decisions of Donald Trump about tariffs?
We don’t really have measures that directly impact. We have a FTA that has resulted in many benefits to the country; also to them in foreign trade. The idea is always to strengthen relationships. Peru is a friend of the world.
The products of China with tariffs in USA Can’t they redirect to Peru?
At the moment we don’t see it. I know it is generating nervousness in the market, but in our case we are solid with our economic policy. At some point we will evaluate the risks that may be and decisions will be made in this regard, but today we do not see it as a situation that complicates us as a country.
Today there is a new withdrawal from the AFP, a new access to the CTS. How to deal with that?
When the debate begins in the Commission, they will invite me and we will explain why such measures should not prosper. We have to support it well. (…) You have to think about the future because today we are hitting a little the future pensions of the population.
Julio Velarde at some point also tried to explain it and failed. In addition, we are in the year of electoral campaign …
We have to work as a team, the legislative and executive, and look for the best for the country.
Will the game rules be maintained for investment?
The rules of the game have to be clear. Peru has cost a lot to get here since the opening of the economy was opened and managed to have that historical security. It is clear that Peru only with public investment will not reach it or the gap will close in a century at least, and you cannot expect so much. Private investment plays a more active role.
Donald Trump team will meet with Russian and Ukrainian officials in Saudi Arabia
Has experience promoting App (public-private associations). How to increase them?
On the side of the Appwe are going to make a deep reform of what is the regulations of App. I believe, for example, that we cannot take 10 years in papers and 2 years to do a project. That’s wrong. There is clear the diagnosis. There is something that is failing. Then, a regulatory proposal has been worked with pro -investment, in coordination with the president of Congress. We have raised the reform and we will work it together in the coming months. A substantial reform to allow the App Go to another dynamic, generate much more confidence and expectation in the private sector and allow us to advance in the closure of gaps. In TAX WORKS (OXI) equal. Although last year it has been a record year, I think it is still insufficient for what can be done. There were S/4,000 million, but there is an available line of S/30,000 million that hopefully it can be covered, because that would also allow to continue to close gaps in the different regions. In that sense, I have also talked to the private sector, because their commitment is important to support that line of action, which is not a donation, it is also a possibility of private sector investment. They will recover their resources, they will contribute to the development of the country and will have a possibility of direct reactivation.
How to deal with the other app, Alliance for Progress, and the other parties that have taken anti -technical laws from Congress?
I have had a lot of interaction with the congressmen in recent years following the projects that I have done in pro -investment. I have gone to the regions … they have their week of representation; We have traveled with them and we have talked a lot. And I have always received support from them to boost their projects. This management will be of totally open and transparent dialogue. Both executive and legislative we have to look for what is best for the country. He MEF You will explain in detail. There will be initiatives to be analyzed, their cost-benefit will be seen, it will have to be discussed in depth. There are always previous technical tables to address these cases and on that we will see the best decisions. Always the MEF It will put its technical position, which is what corresponds. If there are legislative initiatives that in our perspective are for the benefit of the country, we will go and will be hand in hand. If there are issues that generate risks, we will explain them, we will dialogue them, we will say the ABC, we will communicate these aspects a lot. I think it is the way to take care of and preserve economic stability. It has cost us decades to have a stability, have a key image of macroeconomic solidity that we cannot allow us to leave. We have to continue with good indicators. The issue of deficit is what we have to attack now. But the idea is also to step on the accelerator so that economic growth goes to levels, hopefully in the medium term, of 4% or 5% more, which, I believe, is quietly the potential that Peru has to grow. If one goes region by region, find all the productive potential. The conditions to develop are wonderful. So, you have to see how that begins to walk and flow. How we give them logistics conditions for this. Therefore, the infrastructure is essential for all these chains to be activated and contribute to the growth of the country, to the generation of employment, greater income and exports, to generate a virtuous circle.
To grow 4% or 5% more, do you think of unlocking the large paralyzed mining projects?
Every project of every size is important. I am convinced that the private sector is a partner of the State. And they have to work hand in hand. The State has its role, but it has to facilitate the conditions for the private sector to flow in investments and have confidence. And you have to simplify your life too. Then, all the proposals that have, whether 100 or 200, are welcome and bring them to talk. We will analyze them together, technically. And if we all see that it has a cost benefit in which Peru is winning, it has to go, it has to apply. All that will contribute to you, adds value to the economy. He MEF It will also assemble a package of technically measures that we are also going to talk to them. Here everything will be transparent, dialogue and consensus. Therefore, I talk about the deregulation shock. We must lower all the excessive processing that we have generated in recent years and that has complicated the business dynamics. In good time there are more than US $ 50,000 million in mining projects that are there.
Let’s talk about this fight against illegal mining while in the Congress The extends Reinfo…
Actually, this is the competence of the Ministry of Energy and Mines, and I with the minister have an excellent permanent dialogue relationship, and I think he has a clear look of what should be done in mining, hydrocarbons and energy. Not only in mining we have too much informality, so we must generate the conditions to make formality more attractive.
How to deal with the social, economic and environmental scourges of illegal mining when the authorities themselves are involved?
Well, if so, that will have to follow its due process, it will have to be a little demonstrated, right? But I think it is clear that we cannot continue advancing in illegality. All those scourges, finally, harm the country. Environmental destruction, deterioration, situations that are not positive have to fight them. In Sunat we will also intensify the operations to go against illegal mining. For that we have to provide more infrastructure in strategic areas to SUNAT. With the president, the private sector and the ministers of justice and interior we have talked to jointly make an intervention plan for OXI To have an impact in the short term in infrastructure development and give signs that we are moving forward in a frontal war against crime. You have to make prisons with OXIyou have to do police stations, you have to buy shackles.
And the reduction of the IGV for some sectors?
It was a cycle and I hope that consumption this year will recover. We are also seeing the greatest growth, the largest income of the population, and there is a data that can be verified. The tax was a temporality because we know that the pandemic hit directly, but I think we must go to normal, and sectors such as tourism must be given a lot of impulse to continue advancing, we must provide them with the complementary infrastructure to maximize the flow of visitors.
“You have to boost investments”
Do you have the support of the President and the Premier?
Yes, totally. We must boost investments, you have to make the economy grow more and those are a bit of the great lines of action that the president and the premier have raised.
Build prisons with tax works?
You have to dimension that. Today there is a roof of S/30,000 million. The INPE and the Interior Ministry have some projects that are already aimed, which are in execution, others that have loan operations and others that can be absorbed by OXI; That detail of the structure, the other week we expect to look at it.
Can it be guaranteed that this year the fiscal rule will be fulfilled?
We are going to make all the possible effort to achieve the goal. We will work hard on it. We have started well and we will continue the next months. On Monday we have a meeting with the Fiscal Council, with whom we are going to meet permanently to speak, monitor the proposals that are required (in fiscal issues).
The former minister did not want to give zero tariff to the special economic zones (ZEE).
Each economist has his own look at the issues. From before I am convinced, as with the Agrarian Promotion Law that generated a lot of value to the country. Why not continue with what has been good?
The president of the Confiep He says you will have meetings with the private sector every two weeks.
Yes, permanently. My management style is that. I do not like to talk and that all the issues remain in the air. I put a topic, we focus an agenda and follow up until it is fulfilled. Thus I could advance with the projects for pro -investment and throughout my professional career. And where we are getting locked, we see how we unleashed. I have meetings all day.
“Petroperú It will not require resources this year “
Won’t a sun disburse to Petroperú?
Petroperú He has said that this year he will not require resources and we take the floor. We have a meeting with the Minister of Energy and Mines (Jorge Montero) and the Senior Management of Petroperú To listen to the plans, how they are advancing, and see the work dynamics. A team is going to follow up so that what was established in the emergency decree (013-2024) is complied with.
In 2024 the company closed with losses. Difficult to believe that you will not need help.
There was a joint action plan that was developed through the emergency decree that gave it the conditions to have respite. And we are open to foreign investment. Look at Sedapal, who is state, but he turned to the private so that, via a public-private association, he can close infrastructure gaps through water treatment plants.
Is there a possibility that the private investing?
The company will always continue to be state, but that does not mean that there may be spaces in which the private sector can contribute.
Recommended video