The Private Investment Promotion Agency – PROINVERSIÓN continues to actively promote and draw the attention of potential investors and executives of important Spanish companies to its portfolio of infrastructure and energy projects, which require an estimated investment of more than US$ 6 billion.
On this occasion, the Executive Director of PROINVERSIÓN, Rafael Ugaz, participated in the webinar “Infrastructure Investment and Financing Opportunities in Peru,” organized together with the Embassy of Peru in Spain, the Commercial Office of Peru in Spain (PROMPERÚ) and the Spanish Confederation of Business Organizations (CEOE, for its acronym in Spanish). The National Confederation of Private Entrepreneurial Institutions (CONFIEP, for its acronym in Spanish) and the Embassy of Spain in Peru also attended and supported the webinar.
The representative of PROINVERSIÓN stated that “this initiative responds to the common goal of promoting investment flows between Peru and Spain, especially in a situation which has affected the world economy, and in which the promotion of private investment is a key factor to recover economic growth and social development.”
At the event, the opportunities to invest in Peru through PROINVERSIÓN’s PPP project portfolio for the 2021-2022 period were emphasized. This portfolio includes 19 projects for more than US$ 6 billion; as well as the mechanisms that the Peruvian government has implemented to provide security and facilitate investments.
These projects include the Peripheral Ring Road (US$ 1,965 million), Ancón Industrial Park (US$ 750 million), Headworks and Conduction Works for the Supply of Drinking Water in Lima (US$ 480 million), two new Essalud Hospitals in Piura and Chimbote (US$ 300 million), and other sanitation, electric power transmission and education projects.
The webinar also included the participation of PROINVERSIÓN’s Director of Investor Services, Alejandro Prieto, who explained the scopes and benefits of the private investment promotion tools implemented by the agency, such as the VAT Early Recovery Regime and the Legal Stability Agreements.
He specified that, between 2007 and 2020, 208 projects have been accepted into the VAT Early Recovery Regime, which represents an investment commitment amounting to US$ 49,950 million, mainly in the electricity sector. Finally, he emphasized that to date, a number of Legal Stability Agreements for more than US$ 29 billion have been signed, mainly with national investors.
The President of the Spanish Confederation of Business Organizations (CEOE), Antonio Garamedi, also participated in the virtual event and emphasized in his opening statement the vocation of permanence of the Spanish companies in the sector and assured that they have sufficient experience and recognition, which has placed their country at the forefront and as a world leader in the development of infrastructures, thus helping to strengthen the Spain brand.
Meanwhile, the president of CONFIEP, Maria Isabel León, highlighted Peru’s macroeconomic strength as its main attraction for private investment. In turn, she pointed out that PPPs are strategic vehicles to boost the development of infrastructure in our country, as well as to ensure the provision of quality services to the population.
The Spanish Ambassador in Peru, Alejandro Alvargonzález, and the Peruvian Ambassador in Spain, Claudio de la Puente Ribeyro, closed the virtual event, emphasizing the importance of the cooperation of both countries as part of their strategic partnership to overcome and grow stronger from the current situation generated by the pandemic.