The main objective of the Government of Peru is to reactivate its economy and regain the confidence of foreign investors, for which it seeks to enhance the business opportunities presented by the country’s strategic sectors.

This was done by the Minister of Economy and Finance of Peru, Alex Contreras, in a bilateral business meeting held at the CEOE headquarters in which he addressed Spanish companies to highlight investment opportunities in the country and in the Andean Community of Nations (CAN).

“New times are blowing for Peru, in which actions and not just words prevail,” Contreras defended. For the economic head of the Government, Spain is a long-term strategic partner for Peru and has assured that the Andean country will be 100%  ready to support foreign investments.

In this context, the minister has announced that the framework of regulatory stability and legal certainty will be reinforced, that progress will be made in the fight against informality and that there will be a commitment to closeness with the investor.

The event was held within the framework of the activities promoted by CAF in Spain with strategic allies, to generate meeting spaces between relevant actors in the bi-regional relationship. This event served to present the country that chairs the board of CAF and the Andean Community of Nations (CAN), where the presence of Spanish companies has been and is of great relevance for its development.

Infrastructure and development projects in Peru

Along these lines, the minister has highlighted the reforms that are going to be carried out and that will make the country more efficient. In the field of infrastructure, the aim is to improve the physical, digital, social and connectivity infrastructure.

In turn, he has referred to the need to strengthen the agri-food and mining sectors, massify the gas network, relaunch a proactive agenda for the Amazon or reindustrialize the country. “All this implies more logistics, more projects and more investment,” he stressed.

To attract more Spanish companies, the president of the CEOE, Antonio Garamendi, has pointed out that, although the results of business cooperation in recent years “have been clear”, it is necessary to advance in the negotiations of the agreement to avoid double taxation between both countries.

In his opinion, this agreement is “essential” to intensify investments by Spanish companies in Peru and from which both the public and private sectors would benefit.

Furthermore, the president of the employers’ association recalled that there are other aspects that businessmen greatly value when investing, such as legal certainty, access to financing or less bureaucracy associated with public tenders.

Source: dpa

(Referential image source: David Mudarra, Europa Press / dpa)

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The Minister of Economy and Finance, Alex Contreras, has indicated that he expects private investment to begin to recover from the second quarter of the year, noting that the Andean country has “impressive” poles of economic attraction such as the mining sector or the of the infrastructures.

During his speech at the CEO Luncheon, held within the framework of PDAC 2023 in Canada, which brought together executives from the mining sector from different parts of the world, the Government’s economic head expressed his wish that private investment be “a partner of the growth”.

To achieve this, Contreras has highlighted that the Government is improving the allocation and execution of the public budget in order to take advantage of the competitiveness and leadership of certain sectors.

“We are working on investment incentives, which is a key agenda, and we ask you to continue to trust Peru. The mining sector will be the great beneficiary of the energy transition, so investing in Peru is betting on the future “, he insisted.

Taking advantage of his trip, the minister has met with different investment funds, to whom he has informed them about the situation of the Peruvian economy and the prospects for development and growth.

Source: dpa

(Reference image source: Peruvian Government, Europa Press)

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