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Peru President: Government bets on great projects to reduce gaps

14:02 | Lima, Jan. 21.

The President of the Republic, Martin Vizcarra, on Tuesday assured citizens that the Government is committed to private investment and productive growth through the development of major works, in order to reduce gaps and consolidate the well-being of all Peruvians.

During the presentation of the ProInversion project portfolio for the 2020-2021 period, the Head of State highlighted the new boost granted by the State-run institution to the development and promotion of infrastructure works.

"That will allow us to make progress towards one of the main objectives such as: closing infrastructure gaps, thereby consolidating growth, progress, and the well-being of all Peruvians. (...) The presentation of this project portfolio (...) is a sign of the commitment and bet made by the Government, and by this President on private investment, productive growth, competitiveness, and development," he expressed.

The top official added that the presentation of the portfolio containing 23 projects —worth an investment of US$5.351 billion to be executed until June 2021— is backed by the five ministers (Economy, Transport, Housing, Energy, and Production), who are part of the State-run Private Investment Promotion Agency's (ProInversion) board.

Benefits

In that sense, the statesman said the country's productivity and competitiveness depends largely on the quality of its infrastructure, since relying on a solid network will lead to reducing cargo transportation time, transaction costs, but increasing information flows.

"Besides, it connects citizens to their work centers and guarantees access to public services. That way, economic activities are developed, and productive sectors will have a direct impact on people's everyday lives," he stated.

The President added that 2019 was a year marked by social protests in South America and by global uncertainty due to the trade war between the main powers —a period in which Peruvian economy grew slightly more than 2%, which —although it is a rate that is above the average for Latin America— "does not leave us satisfied."

(END) JCC/MVB

Published: 1/21/2020
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