WORKS FOR TAXES ACHIEVE A HISTORIC RECORD OF MORE THAN S/ 4.2 BILLION BY THE END OF 2024
Lima, January 02, 2025.- At an unstoppable pace. In 2024, awards through Works for Taxes reached S/ 4,203 million through 126 projects in Health (50%), Education (22%) and Transport (13%), among others, informed the Private Investment Promotion Agency - PROINVERSIÓN.
Regarding the 2024 result, the Director of the Decentralized Investments Division, Denisse Miralles, explained that the figure is unprecedented in 16 years since the creation of the mechanism, which is now applied in 23 regions for the execution of projects presented by regional and local governments, as well as public universities that are developed with private investment.
She added that the amount awarded exceeds the amount accumulated in the last seven years through this mechanism, which responds to strategies that the agency has been promoting to provide technical advice to authorities interested in executing high social impact projects through Works for Taxes.
To this end, 43 public entities and 73 companies have joined the use of the Works for Taxes mechanism, which represents an important advance in the trust and reception that this mechanism has been registering.
Likewise, in the last few days, the agency awarded through OxI the construction of the judicial headquarters of Cerro Colorado, Arequipa (S/ 33 million) and the improvement of the urban mobility service in the district of Huanchaco La Libertad (S/ 167.7 million).
Effective scheme
In this balance, the executive director of PROINVERSIÓN, José Salardi, referred that Works for Taxes is a mechanism with a lot of potential that is gaining space as a substitute for traditional public works.
After stressing that this year marked a historical record, Salardi said that the mechanism is perceived on a different scale and rhythm since it awarded, for example, the remodeling of the Víctor Ramos Guardia Hospital in Huaraz, for more than S/ 1 billion, the highest figure for an OxI project.
Therefore, “there is confidence to carry out large-scale works and continue betting on a mechanism that could easily finance projects in excess of 4 or 5 billion soles per year”, he underlined.
Precisely, in the 2009-2024 accumulated period, the OxI mechanism reached 628 works awarded for S/ 11,776 million, benefiting more than 22 million Peruvians with improved infrastructure and services. Of this total, 80% is for decentralized works, where PROINVERSIÓN's objective is concentrated, said Salardi.
Historically, the five sectors with the highest amount of investment awarded and executed are: Education (S/ 2,910 million), Transport (S/ 2,669 million), Health (S/ 2,120 million), Sanitation (S/ 1,340 million), Security (S/ 1,049 million), Others (S/ 1,687 million).
In the ranking of public entities that most used the OxI mechanism between 2009 - 2024, the Regional Government of Ancash stands out with five projects (S/ 1,317 million) followed by the Regional Government of Ica S/ 840 (19 projects), Arequipa S/ 690 (10 projects) and La Libertad S/ 570 (20 projects).
Meanwhile, local governments awarded 424 investment projects for S/ 3,883 million and the national government, through its ministries, 64 projects for S/ 2,297 million.
Source: Press Release - PROINVERSIÓN