PUBLIC ENTITIES WILL AWARD SOME 54 AWARDS THROUGH WORKS FOR TAXES (OXI)
Lima, July 8, 2024.- In 2024, public entities will close some 54 awards through Works for Taxes (OxI) that could generate investments over S/ 2 billion, a result that would double the estimate made at the beginning of the year 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. In line with this result, the agency expects to complete another 26 projects in the second half of the year to provide quality infrastructure and public services to the country.
Only in the first week of July, seven projects were awarded for more than S/ 140 million in security, sanitation and transport, among others. Among the upcoming projects are the “Implementation of the Irrigation System in the Yura River” (S/ 97 million) of the Regional Government of Arequipa and the Acquisition of Communication Equipment for the General Directorate of Controls and Sanctions in Communications (DGFSC) of the Ministry of Transport and Communications (S/ 43 million).
The executive director of PROINVERSIÓN, José Salardi, highlighted the dynamism shown by regional and municipal governments and public entities to make projects viable through Works for Taxes, since there is a maximum annual ceiling of S/ 34 billion to execute projects by this mechanism through the issuance of Regional and Local Public Investment Certificates - Public Treasury (CIPRL).
Along these lines, the agency has been developing a decentralized strategy that includes free advice and technical assistance to national government entities, regional governments, local governments and public universities and articulates them with private companies interested in financing projects through Works for Taxes (OxI).
It should be considered that Works for Taxes is a public investment execution modality that allows for the rapid execution of quality projects with the participation of private companies.
In the 2009 – 2024 period, 536 projects have been awarded for S/ 9175 million, benefiting 22 million Peruvians and involving 213 local governments, 21 regional governments, eight national government entities and two public universities. So far this year, 17 companies and 10 public entities used this investment mechanism for the first time.
Source: Press Release - PROINVERSIÓN