What do Peru and the UAE have in common? Thriving tourism, free trade, investment opportunities, a tradition of hospitality and the love of good food. With all this in common, it isn’t surprising that the UAE was one of the first stops for inPeru – Exporting Peru to the World, a major international road show aiming to promote greater foreign direct investment (FDI) in the country.
Peru is one of the fastest growing economies in the world. Its strong economic management and promotion of free trade and free market allowed it to become one of the most attractive investment destinations. The beautiful topography and presence of large natural resource reserves has only added to it’s international appeal.
Despite the global economic crisis, foreign investment in the nation has increased, just as public debt dropped and total foreign reserves went up.
From 2009-2011 the country signed Free Trade Agreements with the US, China, Chile, Canada, Singapore, South Korea, Switzerland, Mexico, Japan, Panama and the European Union. Tourism supports significantly to the Peruvian economy. Foreign direct investment and related statistics are likely to continue their improvement as the economy has grown 24 percent in this young decade.
The Peruvian government has established several measures to boost foreign investment:
- Foreign investors and their companies enjoy the same rights and obligations as national investors & companies.
- National legislation guarantees right to corporate freedom.
- Any lawful business activity maybe carried-out by nationals or foreigners without restrictions.
- Foreign investors, without need for any authorization, may send abroad any profit on their investments, royalties, and considerations for the use and transfer of technology, together with their investment capital.
According to the Dubai Chamber of Commerce; “Under-developed infrastructure, favourable demographics, natural resources and export orientation makes it an attractive place for investment. The nature of the economy’s openness in recent years is encouraging and macroeconomic stability has laid the foundations for further growth. Peruvian economic growth will be among the strongest in the region over the medium term as the economy diversifies away from mineral and commodities exports, with private consumption increasingly being a driver of growth.”
The delegation is headed by the Minister of Economy and Finance, Luis Miguel Castilla, the Governor of the Peruvian Central Bank, Julio Velarde, Executive Chairman of inPERU and CEO and Chairman of Citibank Peru, Jose Antonio Blanco, Chairman of Peruvian Stock Exchange Christian Laub, and will be accompanied by senior business executives from the worlds of politics, banking and commerce.
They will visit Abu Dhabi and Dubai, as investors in the Emirates look towards Latin America, in search of new opportunities. Coming under the spotlight, the country has an untapped market that enjoys a 6.5 percent growth rate — making it the second-fastest growing Latin American country, and fourth worldwide.
“Peru has the highest growth rate of the region due to its dynamic private investment, as well as strong public finances and one of the lowest inflation rates. The country counts with firm economic foundations that will allow Peru to keep growing steadily during the next years.” — Peru Minister of Economy and Finance, Luis Miguel Castilla
Minister Castilla said InPeru’s tour in Dubai, Frankfurt and London will allow the stable South American nation to position itself as an important Latin American investment destination.
Itinerary for inPeru, Dubai Visit:
A specialized seminar entitled; Invest in Peru will take place in Dubai on the 27th where distinguished speakers will give speeches on the possible investment opportunities in Peru in the fields of infrastructure, commodities, energy and banking, they will also discuss the facilities provided by the Peruvian government to encourage foreign investment.
Among the speakers is Mr. Romulo Acurio, Consul of Peru and Mr. Julio Velarde, Governor of the Peruvian Central Bank.
One-to-one meetings will follow the seminar where investors will have the opportunity to meet with Peruvian officials for private discussions. The visit will conclude on the 28th with a series of official visits in Dubai.
The trade visit is organized by inPERU a public-private organization and vital communication channel for investment into the country. inPERU works to increase awareness of the vast potential for profit and development within the Peruvian economy.
InPERU will also be represented by 30 key figures from the largest and highest profile companies extant there – including the Lima Stock Exchange, the Peruvian Corporate Affairs of Rio Alto, Procapitales and Buenaventura.
Discover some exciting Peruvian history: