Economy and Finance Minister Alex Contreras reported that various non-mining investment projects (worth US$5.484 billion) in Peru have been announced in recent months.
"Private investment announcements have been made in recent months, not only in mining, but also in transportation, real estate, manufacturing, and energy, among others sectors," the government official said.
"Peru is once again becoming a center of attraction for investments that had not been seen. For example, assembly plants are returning, and that is very good news that has gone unnoticed, since cars will be assembled again in our country. There are enormous opportunities to develop maquilas and other productive sectors, but that requires a lot of work," he added.
During the
Chancay-Callao Port Hub forum on Thursday, Contreras affirmed that there are evident signs of private investment recovery, including mining projects that are being reactivated, which is why
the role of the central government is to create the best conditions for investments and prosperity.
"We need to work on simplifying processes, reducing paperwork, and optimizing regulations in general. We have the framework, because 13 legislative decrees were approved last year, which will help accelerate public and private investment," he said.
Public investment
The minister highlighted that public investment played a key role in 2023 to cushion the negative effect of internal and external shocks.
"This is the first time that public investment has grown around 9% in a year in which regional and local authorities changed. We did not see this in 2019, nor in 2015, nor in 2011, which was basically due to the boost by the national government," Contreras explained.
"There was also an effort from regional governments, which we must recognize. The 'Con Punche Gerentes' (Managers with Strength) strategy of providing highly specialized managers in regions has borne fruit," he added.
Likewise, the Cabinet member noted that the national government has created the first securitization trust in the history of Peru, which will allow the development of Lima and Callao Metro Lines 3 and 4.
"Moreover, we are now working on creating a securitization trust for megaprojects at the national level. State ministries, in coordination with regional governments, are working on the construction of those portfolios," he reported.
(END) CNA/RMB/MVB
Published: 1/12/2024