The Diplomat
Peru’s Minister of Economy and Finance, Álex Contreras, assured Spanish businessmen in Madrid that the Government’s main objective is to regain the confidence of foreign investors and boost existing business opportunities in the country.
“New times are blowing for Peru, in which deeds and not only words prevail”, said Contreras during his speech at a bilateral business meeting, held last Tuesday at the headquarters of the Business Confederation (CEOE). According to the Minister, the main objective of the Government is to promote economic recovery, recover the confidence of foreign investors and promote business opportunities in the country. He also assured that Spain is a long-term strategic partner for Peru and that his Andean country will support foreign investments 100%.
The current Peruvian government, presided by Dina Boluarte, was formed last December, after the failed self-coup d’état of former president Pedro Castillo. The Spanish Government was one of the first to condemn Castillo’s actions and to express its recognition and support to the new president and to the constitutional and institutional strengthening of the country.
During the meeting, Contreras also informed about the reforms to be carried out in the country and specified that, in the area of infrastructure, the aim is to improve the physical, digital, social and connectivity infrastructure, as evidenced by the Internet for all program, which aims to reach nine million inhabitants.
He also mentioned the need to strengthen the agri-food and mining sectors, massify the gas network so that it reaches all regions of the country, relaunch a proactive agenda for the Amazon, start up the port of Chancay and reindustrialize the country. “All this implies more logistics, more projects and more investment,” he said. Likewise, Contreras said that the regulatory stability and legal security framework will be reinforced and that progress will be made in the fight against informality.
The event was opened by the State Secretary for Trade, Xiana Méndez; the President of CEOE, Antonio Garamendi; the President of CAF-Development Bank of Latin America and the Caribbean, Sergio Díaz-Granados; and the Director General of the Chamber of Commerce, Inmaculada Riera.
Antonio Garamendi assured that the position in Peru was strengthened since the entry into force of the EU-Peru Free Trade Agreement, an agreement that the private sector considered key, by improving the conditions of access for investments, services and goods from both countries, and establishing an institutional framework for economic cooperation that reinforces and consolidates the strong network of bilateral economic agreements already existing between Peru and Spain. Although the results have been clear, Garamendi pointed out, he also stressed the need to make progress in the negotiations of the Double Taxation Avoidance Agreement between the two countries.
Likewise, Xiana Méndez affirmed that “Spain is a preferential partner and our relationship is based on the permanence and commitment to the economic and social development of this region, as demonstrated by the more than 800 companies installed in Colombia or the more than 500 installed in Peru”. In addition, Inmaculada Riera, recalled that “bilateral economic relations have not stopped growing in recent years, having practically doubled our trade in goods since 2010”. “Spanish companies bet decades ago for Peru and today they have a strong presence in the country. They have contributed to the modernization and increased productivity of the Peruvian economy, currently providing formal employment to close to 67,000 people, and maintaining a long-term economic and social commitment to the country,” she added.
For his part, Sergio Díaz-Granados recalled that Peru assumed last August the pro tempore presidency of the Pacific Alliance, made up of Peru, Mexico, Chile and Colombia, and stressed that the Peruvian government has planned the development of important infrastructure projects for the coming years.
Spain-Peru Council Foundation
Alex Contreras also participated on Tuesday in a working breakfast organized by the Spain-Peru Council Foundation (FCEP), which was attended by the acting State Secretary for Ibero-America and the Caribbean and Spanish in the World, Juan Fernández Trigo, and the Peruvian Ambassador to Spain, Walter Gutiérrez, among other prominent Spanish and Peruvian authorities.
During the meeting, Fernandez Trigo reviewed in detail the current state of bilateral relations and Contreras offered an exhaustive analysis of the economic situation and investment opportunities in Peru. Both the Minister and the Ambassador reaffirmed Peru’s long-term commitment to Spain, while the Spanish companies represented on the Board of Trustees expressed their confidence in Peru and reiterated their vocation to remain in the country.
