The Peruvian Ministry of Economy and Finance has passed an amendment to the Public-Private Partnership (PPP) Law Regulation (Decreto Legislativo N° 1251).

The amendment will greatly reduce bidding processes, while better defining and empowering the role of Peru's Private Investment Promotion Agency (ProInversion).

The new PPP law will reduce PPP bidding processes. The average term for tenders (from the project structuring to the call for tenders) was four years. Proinversion will cut this period to international standards. World-class institutions carry out that process in periods of 18 months —and two years at most— including everything: feasibility and engineering studies.

On the other hand, the new regulation spells out the deadlines and roles of PPP agents, adding transparency by defining the role of each actor in the process. The measure clarifies the role of the Economy and Finance Ministry as governing body that sets PPP system policies, as well as ProInversion's role as specialized technical institution that implements PPP processes.