Perú has been included in the annual ranking of the ‘Global Competition Review’.
The renowned Global Competition Review (GCR) magazine, which has been preparing since 2001 the annual ranking of the best competition authorities in the world, in its edition this year includes, for the first time in its history, Indecopi with three stars, highlighting the growth of authority in recent years, the number of cases resolved, the speed to resolve them, the level of sanctions imposed, the use of the Clemency Program and, in particular, for their work in the fight against cartels (in the last year in maritime transport, land transport, liquid fuels, vehicle NGV, among others). The ranking is based on an evaluation of the performance of the authorities and the opinions of lawyers, economists and journalists who interact with them, as part of their regular work. The publication also highlights that Indecopi has imposed fines in 2018 for more than 120 million euros, a great leap considering that before 2016 no fines had been imposed for more than one million euros. Likewise, the investment made in forensic equipment and software for the detection of cartels is highlighted; and the announcement of the authority that rewards will be offered to people who provide information that helps to sanction cartels, thanks to a recent legislative reform.
On the other hand, mention is made of the authority's commitment to obtain powers to allow it to analyze the effects on competition of business concentration processes (for example, mergers), highlighting that “if Indecopi handles the control of such concentrations well as it performs the work of sanctioning cartels, it should maintain its ranking among the competition authorities ”. It should be noted that other competition authorities that have obtained three stars in this publication are of recognized prestige in the world, such as those in Austria, Belgium, Chile, Colombia, Finland, Holland, Norway, Sweden, Switzerland, Turkey, among others. Finally, it refers that in the evaluation made by the Organization for Economic Cooperation and Development (OECD) in 2018, it was concluded that “Peru has established an active competition regime in line with international practices and standards”. For more information, the chapter of the ranking of the Global Competition Review dedicated to Peru can be seen in this link https://bit.ly/2lZrlHq