Peru Decreto Supremo N° 203-2024-EF — Plan Nacional de Competitividad y Productividad 2024-2030

Mechanism

DS 203-2024-EF is the second-cycle update of Peru's flagship horizontal competitiveness framework, first approved in 2019 as the Plan Nacional de Competitividad y Productividad 2019-2030. Rather than replacing the plan outright, the decree refreshes the underlying measure set — extending validity to 31 December 2030, renaming the instrument to the "2024-2030" cycle, and inserting 75 new measures (with 493 milestones) into the nine pre-existing objectives. The Consejo Nacional de Competitividad y Formalización (CNCF), a multi-stakeholder body chaired by MEF and including private-sector representatives, retains responsibility for tracking measure delivery.

Mechanically, the plan is a coordination instrument rather than a spending authorisation: implementation is funded "con cargo a los presupuestos institucionales" — i.e. each implementing ministry absorbs the cost within its existing budget envelope, with no fresh Treasury allocation triggered by the decree. This is structurally similar to the prior plan and reflects Peru's persistent fiscal-discipline framing around competitiveness policy. The decree's leverage is therefore agenda-setting and milestone-tracking rather than direct subsidy distribution.

Key thematic blocks in the updated measure set:

• Infrastructure productivity: mandatory BIM (Building Information

Modelling) adoption for public works above defined thresholds, with phased rollout under the Plan Nacional de Infraestructura para la Competitividad framework.

• Human capital: expansion of technical and vocational education

(Institutos de Educación Superior Tecnológica), targeted skills programmes aligned with mining-services, agro-export and logistics value chains.

• Critical-mineral value chain: enabling investment measures aimed at

attracting downstream processing of Peru's copper, lithium and rare-earth endowment — sequenced with the separately filed REINFO formalisation and with the US-Peru critical-minerals MOU of February 2026.

• Digital connectivity: rural broadband coverage targets coordinated

with MTC's Plan Nacional de Infraestructura Digital.

• Financial inclusion and trade facilitation: SME credit-access

measures, Ventanilla Única de Comercio Exterior (VUCE 2.0) modernisation, port-logistics interoperability.

Downstream implications

• First Peru filing of a horizontal industrial-policy framework in the

register — prior PE entries (2025-05-18 DS 009-2025-EM REINFO/SIPMMA; 2025-12-26 Ley 32537 REINFO extension; 2026-02-04 US-Peru critical-minerals MOU) are all vertical-mineral instruments. This closes a structural coverage gap for LATAM horizontal industrial policy.

• Sets the policy frame within which subsequent PE sectoral measures

(mining formalisation, critical-mineral attraction, energy transition, port concessions) are evaluated for milestone delivery.

• The financing model — no fresh Treasury funds — keeps fiscal-anchor

credibility but limits the plan's capacity to outcompete more subsidy-heavy regional peers (Chile, Mexico) for FDI in capital-intensive downstream-processing projects.

Open questions

• Milestone-delivery cadence: which of the 493 milestones have hard dates

attached vs. soft "during plan period" framing? CNCF publishes annual tracking reports — first 2024-2030-cycle progress report expected H2 2025.

• Interaction with the eventual successor PE government's industrial-policy

positioning (general elections April 2026) — the plan's 2030 horizon spans at least one full electoral cycle and could be renegotiated.

• Critical-mineral value-chain measures: do any of them carry concrete FDI

incentives (tax holidays, depreciation regimes, royalty stabilisation) beyond the existing Estabilidad Tributaria regime?