Peru is expected to ramp up investments in the country’s innovation projects.
According to Peru21, Minister of Production Gladys Triveño announced the government was committed to increasing investment in innovation projects to 0.7 percent of the GDP by 2016, a significant increase from the current 0.15 percent.
The increase would place Peru above the regional innovation investment of 0.68 percent of GDP.
The minister added that the government was looking to boost funding in science and technology projects, and would distribute a total of 750 million soles to entrepreneurs and academics.
Triveño said she regretted the fact that Peru was currently ranked on the 113th out of 133 in innovation, according to the Global Competitiveness Index.
Peru is expected to ramp up investments in the country’s innovation projects, up to 0.7 percent of the GDP.