In 2008, in a speech to businessmen in Latin America, the Caribbean and the European Union, the President of Peru Alan Garcia said bluntly that "We admire and appreciate Chile, for their experience, their democratic consensus, for its growth, the only thing we say is that we want to win them, we want to be better ... " These words of President Garcia rocked the national pride and led Peru to become one of the most dynamic and fastest growing economies in the region. Peruvian authorities have taken advantage of the time, and in recent years have implemented major reforms that have boosted the economy of Peru to be an important focus for international investors. Opening with it great business opportunities for the country.
The reforms and the best business climate that has occurred in Peru have also occurred in other countries in the region, particularly in Colombia, who beat Argentina and become the third largest economy in Latin America, Mexico and Panama. And so, as the advantage that once had Chile, has faded, and the country now has to compete with others to be the best place to do business in Latin America. This was the main message delivered to us by the latest Doing Business 2015 report, where Chile reached the number 41 position, dropping from 34 ** position that it had in the previous report, Doing Business 2014. Until Doing Business 2014 Chile leaded the ranking in Latin America and the Caribbean, being followed by Peru (42), Colombia (43) and Mexico (53). But today Chile has been relegated to fourth place ranking among the countries of Latin America and the Caribbean. Colombia has taken the lead standing at position 34, followed by Peru (35) and Mexico (39). This is a good news for the region, and realizes that there are several countries that have endeavored to improve the business environment. But, beyond that which is good news for the region also accounts of a less every day brilliant performance that it's showing the Chilean economy since the return to democracy in 1990. With the exception of President Sebastian Piñera (2010- 2014), in all governments that succeeded the government of President Patricio Aylwin (1990-1994), the average economic growth rate has been lower every time.
Growth rate of the economy for political cycle (%)