Between January and mid-November 2024, public entity contracts awarded through Works for Taxes (OxI) generated investments of S/ 3,004 million that will have a positive impact on reducing the infrastructure and services gap in 18 regions, reported the Private Investment Promotion Agency - PROINVERSIÓN.
At the 28th edition of the Business Creativity Award, a competition in which the Peruvian University of Applied Sciences (UPC) recognizes the most innovative products, services, processes and strategies in the country, the ES-OxI team was awarded precisely because it contributed to generating a significant impact by unlocking projects that benefit more Peruvians.
"Lima, October 21, 2024.- Unstoppable progress. The Private Investment Promotion Agency - PROINVERSIÓN announced that awards through the Works for Taxes (OxI) mechanism could exceed S/ 3.5 billion at the close of the 2023-2024 period, a result that would even exceed the amount accumulated in the last six years. To date, between January 2023 and October 17, 2024, 114 projects have been awarded through Works for Taxes that secured S/ 3,366 million, of which 77.4% correspond to investments aimed at closing gaps in infrastructure and public services in Ancash (S/ 1,163.4 million), Ica (S/ 671 million), Arequipa (S/ 403 million), Cusco (S/ 111 million), La Libertad (S/ 102 million), Loreto (S/ 94.94 million), Lima (S/ 63 million), among others."
Between January and August 2024, 58 projects were awarded through Works for Taxes (OXi) with a cumulative investment of S/ 2,351 million, the highest amount since the launch of this mechanism 16 years ago by the Private Investment Promotion Agency - PROINVERSIÓN.
Only in the first half of the year, public entities awarded 28 projects for a record S/ 1631 million, the highest amount since the OxI mechanism was launched 16 years ago. As a breakthrough, only in the first week of July, seven projects were awarded.
The amount corresponds to the maximum annual capacity limits of public entities for the issuance of Regional and Local Public Investment Certificates - Public Treasury (CIPRL) that allow projects and investments to be executed through Works for Taxes (OxI) and includes resources distributed by fee, excess fee, royalties, customs revenues and participations; ordinary resources from budgetary expenditure and the Regional Compensation Fund (FONCOR).
In the Junín region, the Private Investment Promotion Agency - PROINVERSIÓN held working meetings with various regional and local authorities to provide technical advice and promote initiatives through the Public-Private Partnership (PPP), Projects in Assets (PA) and Works for Taxes (OxI) mechanisms.
Through Works for Taxes, there are 97 projects under promotion identified jointly with 10 Regional Governments for S/ 6,742 million. Of this portfolio, 15 investments for S/ 361 million are expected to be awarded just in 2024.
