WORKS FOR TAXES WOULD EXCEED S/ 3.5 BILLION IN AWARDS BETWEEN 2023 - 2024
Lima, October 21, 2024.- Unstoppable progress. The Private Investment Promotion Agency - PROINVERSIÓN announced that awards through the Works for Taxes (OxI) mechanism could exceed S/ 3.5 billion at the close of the 2023-2024 period, a result that would even exceed the amount accumulated in the last six years.
To date, between January 2023 and October 17, 2024, 114 projects have been awarded through Works for Taxes that secured S/ 3,366 million, of which 77.4% correspond to investments aimed at closing gaps in infrastructure and public services in Ancash (S/ 1,163.4 million), Ica (S/ 671 million), Arequipa (S/ 403 million), Cusco (S/ 111 million), La Libertad (S/ 102 million), Loreto (S/ 94.94 million), Lima (S/ 63 million), among others.
So far in 2024, the agency has awarded 92 projects for S/ 2,834 million, a result that reflects the momentum that the Works for Taxes mechanism has been gaining among private investors for investing in Education, Health, Transport, Sanitation and Citizen Security, explained PROINVERSIÓN's Director of Decentralized Investments, Denisse Miralles.
Miralles mentioned that this important advance in OxI responds to a strategy initiated in 2023, with decentralized meetings to provide advice and technical assistance to authorities and officials of regional and local governments on how this investment mechanism works.
“This work, of being present in all regions, has been yielding results. Works for Taxes is considered among authorities, officials and businessmen as the best substitute for traditional public works, with an execution effectiveness rate exceeding 80%. Likewise, the technical soundness and the decentralized support generate greater confidence in the use of the mechanism that allows improving the quality of life of millions of Peruvians,” he stressed.
It should be noted that in 2023, 22 projects were awarded for S/ 532 million, mainly oriented to Education, Security and Public Order, Transport and Sports.
In the historical evolution, more than 22 million Peruvians are beneficiaries with the development of 595 works for an amount of S/ 10,373 million registered since the launching of the 2019 -2024 mechanism. Meanwhile, the maximum ceiling for the Regional and Local Public Investment Certificates - Public Treasury (CIPRL) allocated to Regional, Local Governments and public universities amounts to S/ 34,646 million.
Source: Press Release – PROINVERSIÓN