PERU HAS MORE THAN S/ 33 BILLION TO CARRY OUT PROJECTS VIA WORKS FOR TAXES IN 2025
Lima, February 21, 2025.- The executive director of the Private Investment Promotion Agency - PROINVERSIÓN, Luis Del Carpio, highlighted the importance of the Works for Taxes (OxI) to accelerate the closing of infrastructure gaps since Peru currently has the capacity to finance projects for more than S/ 33 billion through this mechanism.
In his participation in the Master Conference: Works for Taxes for a Productive Education, at the San Ignacio de Loyola University, Del Carpio pointed out that these resources are distributed among regional governments, local governments and public universities in the country.
This financing capacity is measured through the Certificate of Regional and Local Public Investment (CIPRL) which is updated every year by the Ministry of Economy and Finance (MEF). According to PROINVERSIÓN's executive director, the amount would be increased in the coming weeks.
Through the OxI, private companies advance the payment of their income tax and other taxes, financing and executing investments and/or operation and maintenance activities prioritized by national, regional and local government entities and public universities.
That is, it allows the public and private sectors to work hand in hand to reduce the gap in infrastructure and public services in the country. “OxI allows us to do works now and finance them with the payment of taxes in the coming years,” said PROINVERSIÓN's executive director.
Goal 2025
Luis Del Carpio emphasized that in 16 years of implementing the OxI, investments exceeding S/ 11 billion were made, of which S/ 4.2 billion were made in 2024, setting a record in the history of the mechanism.
Therefore, PROINVERSIÓN has set a target of S/ 10 billion for 2025. Between January and February alone, S/ 201 million were realized. "It is an instrument that we are going to advance more this year with the MEF," added the director of PROINVERSIÓN.
So far, OxI has benefited more than 22 million Peruvians with the development of 639 projects nationwide. Mining companies are the ones that have bet the most on OxI with a total investment of S/ 4001 million (33% of the total invested), followed by financial companies with S/ 2143 million (18%), telecommunications with S/ 1820 million (15%), manufacturing with S/ 974 million (8%), construction with S/ 980 million (8%), marketing with S/ 870 million (7%), among other sectors.
Source: Press Release – PROINVERSIÓN