From Tuesday, July 17th to Monday, July 23rd, 2018
The Peruvian Government promulgated Legislative Decree No. 1362 "Legislative Decree Regulating the Promotion of Private Investment through Public-Private Partnerships and Projects in Assets"
Today the Peruvian government published the Legislative Decree No. 1362 "Legislative Decree Regulating the Promotion of Private Investment through Public-Private Partnerships and Projects in Assets", a law that replaces the current legal framework of public-private.
Within the modifications incorporated, the new regulation seeks to return the direction of the promotion of PPPs to the Ministry of Economy and Finance as the entity in charge of dictating the policies of private investment. Likewise, the law seeks to have clear and transparent procedures for the development of infrastructure projects in the country under this scheme, as well as having better technical studies from the conception of projects, in order to avoid changes during its bidding.
On the other hand, structural changes are incorporated into ProInversión, including a modification to the composition of its board of directors, whereby the five members will be representatives of the government. Likewise, the functions of the entity, the project director, the special committees, the executive director and the board of directors are being redefined. Finally, the law seeks to repower the project management team of ProInversión.
One of the most important changes incorporated is the possibility granted to the government to contract technical and legal specialists from the private sector to advise on the negotiation of concession agreements, in order for such agreements to protect the position of the government against private investors.
Likewise, the ministries will be allowed to create a specialized group that will concentrate project management functions so then could be outsourced by the ministry.