President Castillo rules out nationalization in Peru and announces Science Ministry

Castillo also announced the creation of the Ministry of Science, Technology, and Technological Innovation to promote the generation of knowledge necessary for technological independence in the country, especially in public health and exports.

RIO DE JANEIRO, BRAZIL - In his first speech to the nation, Peruvian President Pedro Castillo ruled out the nationalization of any productive activity and, instead, announced the defense of the concept of "social profitability" in private investments and the creation of the Ministry of Science and Technology.

"We do not intend, not even remotely, to nationalize any economy, nor to make a policy of exchange control", said Castillo in his message before the plenary of the Congress, after being sworn into office, to address the criticism of his campaign proposals.

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