Andina

Peru: Private investment to speed up in coming years, to grow 8% by 2021

17:22 | Lima, May. 2.

Peru's private investment will speed up in the next few years and grow 8% by 2021 as competitiveness improves, Prime Minister Cesar Villanueva said on Wednesday.

"We are confident private investment will grow at a rate of 8% by the year 2021," Villanueva said at Congress, where he set out his administration's guidelines to request a confidence vote.

According to the Prime Minister, speeding up the implementation of infrastructure projects —such as Jorge Chavez International Airport expansion, General San Martin Port Terminal, and the Talara refinery modernization project— is key to fostering private investment.

Other projects include the Integrated Gas Transportation System in Southern Peru, the Lima Metro Line 2, and the Urban Transport Authority for Lima and Callao —set to alleviate the chaotic traffic.

"Such significant increase in private investment will occur as competitiveness improves," the government official was quoted as saying.

The goal by 2021 is to move up in the competitiveness index released by the World Economic Forum, and the plan is to relaunch the National Competitiveness Council to do so, he said.

"To achieve these goals, we'll try to change the traditional way of doing economic policy just by thinking macro because this is the responsible thing to do, if we want to meet the population's needs," Villanueva added.

(END) CAN/RMB/MVB

Published: 5/2/2018