Lima, June 14, 2021.- The Peruvian Private Investment Promotion Agency (Proinversión) reported that the total amount awarded for public investment projects under the form of the Works for Taxes increased by 123% between January and May 2021, in comparison to the same period in 2020.
Thus, in the first five months of the year, 12 projects amounting to S/ 110.7 million were awarded, while in the similar period in 2020 seven (7) projects amounting to S/ 49.7 million were awarded. Even the amount achieved this year is 60% higher than the amount recorded in 2019 (three projects amounting to S/ 69.4 million).
“The rate of awarding of projects under the form of Works for Taxes has returned to the levels prior to the pandemic. This is very healthy because it helps boosting the recovery of our economy through projects with great social impact in various areas of the country, improving the living conditions of our fellow citizens”, commented Rafael Ugaz, Executive Director of Proinversión.
The 12 projects awarded this year are located in the regions of Áncash, Arequipa, Cusco, Huánuco, Ica, Junín, Loreto and Pasco; and belong to the public order and security, education, transportation, urban development and sports sectors.
Works for Taxes is a form of execution of public investment, which allows the participation of private companies. The private sector finances the Public Investment Project and, once works are delivered, recovers its investments under the form of certificates for the payment of third-bracket income tax. The independent regulatory framework speeds up the execution of public investment and simplifies procedures.