Peru projects to receive
worth US$2 billion from Colombian companies between 2018 and 2019, Colombian Business Council (CEC) in Peru Executive-Director Luis Gomez affirmed Friday.
Besides, more businesses from the neighboring country explore the Inca nation's market to make decisions.
In this sense, 300 Colombian companies are based in the Inca country, and 120 of them are affiliated to the
guild.
"What might be a problem for Peru, such as an
infrastructure deficit, is an investment opportunity for us," Gomez expressed.
"US$2 billion is destined for the
infrastructure, energy, transmission, hotel, transport, and cosmetics sectors," he added.
The officer also highlighted Colombian enterprises have found opportunities in the "Work for Taxes" mechanism. Works for Taxes is an income tax payment mode that allows companies to pay part of their tax bill by investing in public works, thus eliminating government institutions' need to mobilize public funds.
"Peru needs a more advanced road infrastructure, and Colombia is very good at that. There are also various Colombian companies that have projects on social housing to make them available to Peruvians," he said.
Within this framework, he praised the treaties to avoid double taxation between Peru and Colombia benefit the latter's competitiveness.
"US$14.9 billion has been accumulated between 1980 and 2017. By 2021 —when President Vizcarra ends his term in office— we will exceed US$21 billion," the representative highlighted.
"There's a lot to develop in Peru. Besides, Colombia is prepared and ready to contribute (to this
development) with its
investments," he concluded.
(END) MDV/DTK/MVB