Ambitious plan of Minister Arista seeks to boost economic formalization in Peru

The Minister of Economy and Finance, José Arista, has launched an ambitious plan to promote the formalization of the economy in Peru, with the aim of reducing the high costs faced by citizens when carrying out notarial procedures. In a recent interview, Arista revealed that he plans to present a bill to the Congress of the Republic to significantly increase the number of notaries in the country, with the intention of improving efficiency in processes and reducing the high prices that currently hinder the formalization of economic activities. The minister highlighted the disparity between the number of notaries in Uruguay, with 900 for a population of 3.3 million, and in Peru, where there are only 600. According to Arista, at least 6,000 notaries would be needed in the country to adequately meet demand and reduce the costs associated with notarial procedures. This measure aims to eliminate the so-called "legal monopolies" that inflate services and pose an obstacle to the formalization of the economy. Furthermore, the minister pointed out the importance of addressing bureaucracy issues and delays in obtaining permits for mining projects, which can extend up to five or six years. Arista emphasized the need to streamline these processes to promote investment in the mining sector, highlighting efforts made to unlock key projects that represent significant investments for the country. In this context, Arista's announcement has generated expectations in various sectors of Peruvian society, especially among entrepreneurs and business owners seeking to formalize their economic activities. The proposal to increase the number of notaries and streamline administrative procedures could have a positive impact on the national economy, facilitating the establishment of companies, creating jobs, and promoting economic growth. In summary, the initiative of the Ministry of Economy and Finance to increase the number of notaries in Peru as part of a comprehensive plan to reduce service costs and promote the formalization of the economy represents an important step towards creating a more favorable environment for business development and investment in the country. Efficiency in procedures and the elimination of bureaucratic barriers are fundamental aspects to boost competitiveness and economic progress at a national level.