Peru has become the largest recipient of foreign investment in Latin America by Chinese firms during the period between July 2013 and June 2014, according to study from the Peruvian-Chinese Chamber of Commerce (Capechi).
In a reported released Wednesday, the entity found foreign investment of Chinese state-owned and private-headquartered firms in Peru hit a record high of US$ 9.2 billion during the period under review, thus expanding their influence in the Andean nation.
"The investments poured into the agriculture, manufacturing, services and mining sectors,” The chamber’s President, Jose Tam said, adding “They were undertaken by more than 120 Chinese companies operating in Peru”.
He added, “Chinese firms have been largely welcomed in the region with a total investment worth US$ 19.37 billion in the period ended July”.
In this regard, the new data reveals that of the said amount, Peru received US$9.2 billion, accounting roughly 50 percent of the total, followed by Argentina (US$2,9bn), Brazil (US$2.78bn) and Venezuela (US$ 1.8bn).
"China holds a great deal of interest in the Peruvian market [...] Therefore, we expect the arrival of more [Chinese] companies to the country", Capechi's head noted.