With one of the fast-growing and most stable economies in South America, Peru is a country on the rise, gaining global notoriety for its attractive business and investment opportunities.
Its economy grew an impressive 13.3 per cent in 2021, the highest growth rate reported since the country’s central bank started tracking GDP in 1922, with exports across multiple sectors, including agriculture, manufacturing and accommodation, contributing strongly, as well as growth in Foreign Direct Investment (FDI).
In fact, in the first quarter of 2021, FDI hit the US$3.47 billion mark, which was higher than the 2020 total, highlighting Peru’s status as an FDI destination of choice in South America.
The South American country is expected to continue to grow its economy, with the World Bank predicting GDP growth of 3.9 per cent this year and the International Monetary Fund (IMF) even more bullish, forecasting growth of 4.6 per cent.
To build on this momentum and with the goal of reaching US$70 million in business and tourism value by 2024, the Commission for the Promotion of Peru for Exports and Tourism (Promperu) is promoting the diversity of Peruvian exports, FDI opportunities and the country’s tourism offering at Expo 2020 Dubai from March 7 to 9.
Helping entrepreneurs, businesses and investors to better understand the potential of the country and providing opportunities for cross collaboration, the Peru pavilion is organising a business roundtable from 9am to 6pm on March 8.
Positioning Peru as a provider of high-quality products and services, an attractive tourist destination and a country with a thriving investment ecosystem, the event will bring together some 100 SMEs from the 25 regions of the country.
They will represent a wide range of export sectors including functional foods, fresh foods, handicrafts, cotton and alpaca clothing, jewellery, decoration, manufacturers, business investments, food industries, tourism, textiles, high technology, manufacturing, renewable energy, forestry and metalworking.
Forging stronger links with the tourism sector is high on the agenda, and with this in mind, representatives of travel companies including tour operators, airlines, and Online Travel Agencies (OTAs) will also attend the roundtable with the purpose of establishing strategic alliances and consolidating commercial relations between Peru and the Middle Eastern market.
In terms of FDI, between 2011 and 2021, renewable energy, manufacturing and food were the top industries attracting FDI to Peru. To maintain growth and open new markets, the country has introduced legislation to encourage private investments, stimulate economic activity and offer tax incentives for companies that deliver Research, Development and Innovation projects, as well as a VAT relief framework.
Information on these initiatives and additional opportunities for FDI will be available at the Promperu roundtable.
For more details on the event, email [email protected]
Peru in numbers
* 13.31 per cent economic growth in 2021
* 3.9 to 4.6 per cent growth predicted for 2022
* Second-fastest growing economy in South America
* Projected to have second lowest inflation in Latin America until 2025
* Eight port terminals and five international airports
* Ranks first in effectiveness of registering a business property in South America
* Ranks third in costs of establishing a business in South America
* One of the seven most diverse countries globally in terms of ecosystems, species, natural resources and indigenous cultures
Sources: Directorate for the Promotion of Business Investments, Peru; National Institute of Statistics and Informatics in Peru, World Bank; IMF; Doing Business 2020 Ranking.
