NEWS
PERU APPROVES EXPANSION OF LAS BAMBAS COPPER MINE PERU APPROVES EXPANSION OF LAS BAMBAS COPPER MINE HOSPITAL PROJECTS OF THE SOCIAL HEALTH INSURANCE OF PERU (ESSALUD) CAPTURE THE INTEREST OF INVESTORS STREAMLINE PROCESSES TO APPROVE ENVIRONMENTAL IMPACT STUDIES IN INVESTMENT PROJECTS AGREEMENT BETWEEN PERU AND JAPAN TO AVOID DOUBLE TAXATION ENTERED INTO FORCE: WHAT DOES THIS IMPLY? SINGAPORE BECOMES THE FIRST PARTNER OF THE PACIFIC ALLIANCE CASTILLO SAYS THAT THE PERUVIAN GOVERNMENT IS COMMITTED TO HONORING OBLIGATIONS TO JOIN THE OECD SUSTAINABILITY OF PUBLIC FINANCES REQUIRES MORE THAN EVER PRIVATE INVESTMENT PUBLIC INVESTMENT WILL CONTRIBUTE TO THE ADVANCEMENT OF THE ECONOMY THIS YEAR CASTILLO REITERATES HIS INVITATION TO BUSINESSMEN TO INVEST IN PERU IN DAVOS 2022 JULIO VELARDE IS ELECTED AS CENTRAL BANKER OF THE AMERICAS 2022 BY FINANCIAL TIMES PPP PROJECT PORTFOLIO WAS PRESENTED TO CANADIAN INVESTORS THE PROMOTION OF PRIVATE INVESTMENT IN THE COUNTRY IS URGENT PROINVERSION PROMOTES PPP PROJECTS FOR US$ 6,300 MILLION TO INVESTORS FROM SINGAPORE, KOREA AND AUST INVESTMENT IN INDUSTRIAL SECTOR WILL GROW 26.9% THIS YEAR IN PERU THE PORT OF CHANCAY WILL HAVE A GREAT REGIONAL IMPACT AND WILL BE A HUB OF THE SOUTH PACIFIC MOODY'S: EXPORT SECTOR WILL BE THE ENGINE OF REACTIVATION OF THE PERUVIAN ECONOMY PERU RECORDED SURPLUS OF US$ 3,986 MILLION MEF RAISES PERU'S GROWTH PROJECTION TO 13% JOINING THE OECD IS A POLITICAL WILL OF THE STATE MEF AND ECLAC COORDINATE ON LITHIUM INVESTMENTS NET INTERNATIONAL RESERVES REACH US$ 75,358 MILLION AS OF OCTOBER 27 GOVERNMENT PLACED BONDS AMOUNTING US$ 4,000 MILLION IN THE INTERNATIONAL MARKET BCR: PUBLIC INVESTMENT WILL GROW 20% THIS YEAR AND 4.5% IN 2022 PERU ANNOUNCES PUBLIC TENDER OF TWO ELECTRICAL PROJECTS IN THE NORTH OF THE COUNTRY THROUGH PPP CASTILLO RATIFIES PERU'S INTEREST IN JOINING THE OECD CONFIRMED: JULIO VELARDE WILL REMAIN IN FRONT OF THE CENTRAL RESERVE BANK (BCR) FOR FIVE MORE YEARS PERSPECTIVES ON PERU'S GDP ARE FAVORABLE BCR: PRIVATE INVESTMENT WILL REACH US $ 41,700 MILLION THIS YEAR PROINVERSION PROMOTES TO INVESTORS ESSALUD HOSPITAL PROJECTS THE GOVERNMENT WILL ACCELERATE 52 INVESTMENT PROJECTS FOR S/ 114,000 MILLION The state will promote large Infrastructure Projects Peru in the Pacific Alliance San Juan de Marcona Port Project will be awarded next year Peru would lead regional growth There are 13 interested companies in participating in the tender for the Ancon Industrial Park Peru attracts great investments Gore Ancash promotes work for taxes projects for more than S/. 600 million Minister Francke met with the President of BCRP to coordinate economic and monetary policies President Pedro Castillo swears in his first Cabinet of Ministers Peru is on the right track in Fiscal Matters LT Puerto Maldonado-Iberia and Chira Valley Substation will boost Madre de Dios and Piura Arequipa: MEF approves addendum 13 to Majes Siguas II Project Agreement ratification gets the Go-ahead Mining exports already exceed Pre-pandemic levels MEF announces the unlock of the Majes Siguas Project Peru´s economic recovery is the highest in the region Foreign investment in Latin America will reach prepandemic levels in 2023 CCL: Peru has 921 investment megaprojects We seek to sign our first contract in Ports IMF: Peru Libre and Fuerza Popular in favor of maintaining a Macroeconomic soundness policy Agri Exporters seek to position Peruvian Organic Coffee in South Korea The rate of awarding of projects under the form of works for taxes returned the level prior to the p FITCH considers that Peruvian Companies maintain proper liquidity positions Mining investment totaled US$ 1,298 millon More than 1,561 new rural towns will have 4G mobile telephone and internet services LA LIBERTAD: THE MODERNIZATION OF THE PORT OF SALAVERRY IS 80% COMPLETE TOQUEPALA IS TAKING THE FIRST STEP TO ENTER 5G FOREIGN-OWNED COMPANY REINVESTMENT AMOUNTED TO US$ 2,310 MILLION BCR: RECOVERY OF PRIVATE INVESTMENT GDP TO GROW 34.4% IN THE SECOND QUARTER MOODY'S AGENCY ASSURES PERU'S A3 RATING US$ 340 MILLION IN LOANS FOR ROAD INFRASTRUCTURE PROINVERSIÓN CALLS FOR INTERNATIONAL BIDDING FOR PUBLIC TELECOMMUNICATIONS SERVICES ADDENDUM TO THE MUELLE NORTE CONCESSION WOULD ALLOW INVESTMENT OF US$ 1,050 MILLION FROM APMT. AMERICAN LITHIUM WILL PRIORITIZE LITHIUM PROJECT OVER URANIUM IN PUNO MEF KEPT 10% PROJECTED GROWTH FOR PERUVIAN ECONOMY FOR THIS YEAR RECORD IN THE EXECUTION OF PUBLIC INVESTMENT EUROPEAN UNION (EU) WILL SUPPORT TRANSPORTATION IMPROVEMENT COPPER NEARS 10-YEAR HIGH NATURAL RESOURCES MUST BE ENHANCED MONETARY FUND PROPOSES TO STRENGTHEN COUNTRIES' FISCAL RESPONSES TO THE CRISIS PROINVERSIÓN WILL RECEIVE BIDS FROM THE PRIVATE SECTOR FOR FOUR SANITATION PROJECTS SOUTHERN MINING CLUSTER WOULD ATTRACT US$ 14 BILLION IN INVESTMENTS BRITISH EMBASSY PRESENTS THREE CLIMATE ACTION PROJECTS TO BE IMPLEMENTED IN PERU PUBLIC INVESTMENT MARKS A RECORD RESULT IN THE FIRST QUARTER WB IMPROVES PERUVIAN GROWTH FORECAST FOR 2021 THE NEW CENTRAL HIGHWAY WILL BE CONNECTED WITH THE LONGITUDINAL DE LA SIERRA HIGHWAY PERU WILL HAVE THE LARGEST GDP EXPANSION IN SOUTH AMERICA THIS YEAR PERU RANKS SIXTH IN SOUTH AMERICA AS THE "MOST PREPARED" FOR STATE-OF-THE-ART TECHNOLOGIES A GUIDE TO DRAW INVESTMENT IN ENERGY PROJECTS IS PRESENTED LITHIUM ALSO FOUND IN CUSCO ANCON INDUSTRIAL PARK WILL HAVE 1,338 HECTARES FOR INDUSTRIAL, COMMERCIAL AND LOGISTICAL DEVELOPMENT PROJECTS FOR MORE THAN US$ 6 BILLION DRAW THE ATTENTION OF SPANISH INVESTORS THE GOVERNMENT PLACED BONDS AMOUNTING TO US$ 4,000 MILLION IN THE INTERNATIONAL MARKET PUBLIC INVESTMENT REACHED AN EXECUTION RECORD IN FEBRUARY CLARO AND ENTEL WILL DEPLOY 5G TECHNOLOGY FOR FIXED WIRELESS INTERNET COLOMBIA BETS ON INFRASTRUCTURE AND ENERGY PROJECTS AMOUNTING TO MORE THAN US$6 BILLION IN PERU CHINA WILL FURTHER ITS INVESTMENT IN PERU IMF INCREASES THE FORECASTED GDP GROWTH TO 9% IN 2021 MINING INVESTMENTS EXCEEDED EXPECTATIONS PORT MODERNIZATION INCLUDES NINE PROJECTS PROINVERSIÓN PROMOTES INFRASTRUCTURE PROJECTS TO EUROPEAN AND NORTH AMERICAN INVESTORS MEF MAINTAINS A 10% GROWTH RATE FOR 2021 PROINVERSIÓN HAS JOINED THE WORLD ASSOCIATION OF PPP UNITS AND PROFESSIONALS ELECTRICITY SECTOR PLANS AMOUNTING TO US$ 6,025 MILLION PROINVERSIÓN EXPECTS TO AWARD PROJECTS AMOUNTING TO US$ 2.5 BILLION THIS YEAR PROINVERSIÓN CALLS AN INTERNATIONAL BIDDING FOR THE ANCÓN INDUSTRIAL PARK PROJECT PERU WILL LEAD INVESTMENT IN THE NEXT THREE YEARS PROINVERSIÓN CALLS AN INTERNATIONAL COMPETITIVE BIDDING FOR THE ANCÓN INDUSTRIAL PARK PROJECT THE MTC WILL PROMOTE INVESTMENTS AMOUNTING S/ 1580 MILLION IN DIGITAL CONNECTIVITY PRIVATE INVESTMENT WILL GROW 17.5% THANKS TO MORE THAN 30 PROJECTS WB: PERUVIAN ECONOMY WILL GROW 7.6% IN 2021 PERU IS ONE OF THE COUNTRIES WITH THE GREATEST MACROECONOMIC STRENGTH

GLOBAL INVESTORS INTERESTED IN INFRASTRUCTURE WORKS IN PERU

September 23, 2021. Lima, Peru.- After a tour of Mexico and the United States, Pedro Francke head of the Ministry of Economy and Finance (MEF) explains the results of his meetings with potential investors and companies that already operate in the country, as well as the actions that his portfolio took to attract private capital companies and generate more jobs.

What are the results of the meetings with investors?
-We had a very good meeting with businessmen from Mexico from various sectors, such as mining, energy, beverages, among others; then a very good meeting in Washington, with the members of the American Chamber of Commerce, which groups together practically all the large transnational corporations in the United States and some countries.

The President of the Republic, Pedro Castillo, was also there, who gave a very clear message regarding respect for property and working together, the State and private investment. I think it was very well received by the businessmen.

Later we had meetings with representatives of international organizations, such as the International Monetary Fund (IMF), the World Bank (WB) and the Inter-American Development Bank (IDB). The first will help us with technical assistance in the tax part, while the other organizations are totally open and interested in financing projects and the development of Peru.

For my part, I had several meetings, especially with financial investors, those who buy Peruvian bonds, who invest in the Lima Stock Exchange (BVL), with large investors who move a few trillion dollars in the world.

They were very positive meetings, all of them see Peru as a country with great potential, with a very responsible tax policy. In addition, we have a very low level of debt; therefore, they are very willing to finance Peru.

We dispel the doubts they had. Always a face-to-face dialogue is essential to be able to answer questions; from afar there are things that may not be understood well and I think that in that conversation we made significant progress in being able to generate confidence and, in this way, attract investment and financing to reactivate the economy and create jobs, which is our great objective.

Did you have the opportunity to meet with representatives of the firm BlackRock and the rating agencies Fitch, Moody’s and Standard & Poor’s?
-Yes, we met with several large investors, such as the firm Pimco and others that manage significant funds on an international scale.

We also spoke with Standard & Poor's, one of the three largest credit rating agencies.

The Minister of Energy and Mines pointed out that there is a viable portfolio of mining projects for US $ 50,000 million; How can Peru accelerate the arrival of investment and have a greater impact on the economy?

-In the business meetings were present several executives of large mining companies that invested or will do so in Peru.

Quellaveco is already finishing executing its capitals next year. In addition, we spoke with Angloamerican managers to find out how to help them.

Yanacocha Newmont has this new Yanacocha Sulfuros project, which in the next 12 months will invest the first US $ 500 million of a total of US $ 2.100 million, which we were informed is the largest investment made by the company on an international scale in 15 years.

Mining investment is important, but we must also pay close attention to other sectors, such as forestry, aquaculture, agro-export and industrial sector.

An investor concern is the rules of the game, the legal framework and the tax issue . Can you tell us what are MEF initiatives in taxation?

-With regard to tax reform, it seems to me that there is a national consensus on the need to combat tax evasion. About half of the income tax in Peru is not paid and also in the mining sector there are high profits due to a very high price of copper.

We can have a better way of sharing that between the state and private companies, and for small units there is also a broad consensus that we need a more simplified system.

The services of the digital platforms have to pay their taxes; the National Superintendency of Tax Administration (Sunat) must use new information technologies. They are some of the big issues in tax reform.

Next week we must present the request for the delegation of legislative powers to Congress and begin to work in an effort of much consultation and dialogue with the different banks to have a tax system that is really much more functional, fair and equitable for all Peruvians.

We want this to come out soon to resolve this issue and apply it from next year; it seems to me essential.

On the issue of stability, first of all, we have a macroeconomic framework that generates an extremely clear tax sustainability path and there is considerable international recognition that Peru's tax strength is extremely solid and that our proposal is well anchored in maintaining that position.

But we maintain other mechanisms of stability agreements and respect for investments that I think are quite attractive for private investment, there we have an economic policy in general that is quite friendly and favorable to private investment.

MEF will promote capital
The head of the Ministry of Economy and Finance (MEF) pointed out that his portfolio will promote roadshows or promotional tours to attract foreign private investment to our country.

“Without a doubt, the issue of promoting Peru as an investment attraction, explaining economic policy and attracting investors is an important objective for MEF and, indeed, we spoke with several institutions and banks to see the possibility of organizing this type of investment presentations on other continents, such as Europe and Asia ”, said Minister Francke.

On the other hand, he pointed out that his management will promote public-private partnerships (PPP) for large infrastructure projects. In this regard, he said that the advancement of Line 2 of the Lima Metro, the expansion of the Jorge Chávez International Airport, the Autopista del Sol in the north of the country, as well as ports and the project of the new Central highway will be supported.

"What we see on this tour is a lot of interest from international investors in continuing to participate in infrastructure in Peru and in developing works that have an impact and relationship with environmental improvement and climate change," he said.

Source: El Peruano