Peru Sees $50 Billion In Investments Over Next Three Years

Peru is expecting to see investments of $50 billion over the next three years, Economy Minister Luis Miguel Castilla said in Spain last week.

In a statement, Castilla, who was in Spain with President Ollanta Humala on an official visit, said Peru is on a “sustainable path of growth,” and called for Spanish companies to invest in the Andean country.

“Spain is our main partner,” Castilla said. “In direct investment we have stock of Read more…

CAF Looking To Provide Financing For Southern Pipeline

The Andean Development Corporation, CAF, is interested in providing some of the financing for the Southern Andean Gas Pipeline, which will be operated by Kuntur Transportadora de Gas, owned by Odebrecht of Brazil and Conduit Capital Partners of New York.

CAF’s representative in Peru, Ricardo Campins, said the Ministry of Economy and Finance has asked the regional organization to be the financial advisor of state-owned Petroperu in the project.

Petroperu is seeking a minority stake in the pipeline, which has been declared of national interest by parliament due to its potential development boost for Read more…

Barclays: Peru Needs Systematic Solution to Social Conflicts

Barclays Capital said Peru’s government needs a systematic solution to social demands in the mining sector, rather than “putting out fires” amid opposition to individual projects.

“The issue is political since we have seen social demands that need to be resolved systematically or structurally and not necessarily by putting out fires,” said Barclays Capital’s Roberto Melzi, state news agency Andina reported.

Melzi recommended that the government bring together residents that live near Read more…

Humala Plans Trip to Venezuela Over Weekend

President Ollanta Humala plans to travel to Venezuela on the weekend,  where he will meet with that country’s president, Hugo Chavez, state news agency Andina reported.

The trip is intended to deepen bilateral ties between Lima and Caracas with a focus on trade, social issues and diplomacy, Andina said.

The government has requested that Congress provide Humala with authorization for the trip.

Humala had planned to travel to Venezuela in December for the first conference of the Community of Latin American and Caribbean States, Celac, an organization Read more…

Ombudsman’s Office Calls for Social Conflict Strategy

Peru’s national ombudsman’s office has called for a technical debate to discuss social conflicts in the Andean nation, state news agency Andina reported.

Rolando Luque, deputy ombudsman for Social Conflict Resolution,  said that Peru should debate strategies to resolve social conflicts that will undoubtedly arise in the coming year.

“The government should initiate a discussion among specialists regarding the best strategy that the state Read more…

Mexican Senate Ratifies Free Trade Accord with Peru

Mexico’s Senate ratified a free trade agreement with Peru on Thursday, after delaying about seven months since it was approved by executives in both countries on concerns about its impact on the agricultural sector.

The trade pact was approved with 55 votes in favor and 47 against.

Peru’s Foreign Trade and Tourism Ministry said in a statement that trade between Read more…

Business Group Backs Humala’s New Cabinet

Peru’s largest business organization, Confiep, believes President Ollanta Humala’s new cabinet reinforces investor and market confidence in the Andean country’s economic policies, state news agency Andina reported.

“The expectations are very high,” said Confiep President Humberto Speziani. “Technical, young people have moved (in to the cabinet). That is important, it is the change that the country needs, less political and more management, more efficient.”

Speziani said that Humala’s pick of former Interior Minister Oscar Valdes as the Read more…

Romulo Leon Released from Prison, to Serve House Arrest

Romulo Leon, a prominent member of ex-President Alan Garcia’s Aprista party, was released Friday from prison, where he has been held for the past eight months in relation to an oil concession kickback scheme revealed in 2008.

Newspaper El Comercio reported that Leon was taken to his house in Lima’s upper-middle-class Miraflores district, where he will be under house arrest. The house arrest status was granted on the grounds that he is not a flight risk. 

Leon served as Fisheries minister in Garcia’s first government (1985 to 1990) and Read more…

Hundreds of businesses meet at China-Latin America Summit

More than 400 Chinese business leaders and government officials,  and representatives of 600 Latin American businesses came together in Lima this week for the 5^th China-Latin America Business Summit, inaugurated Monday by President Humala. The Chinese delegation was headed by Hua Jianmin, vice-president of the Standing Committee of the National People’s Congress.

The summit included forums, seminars and one-to-one meetings with Chinese businesses in the mining, tourism, agriculture, banking and infrastructure industries.

China has become Latin America’s second trading partner —and Peru’s most Read more…

Brazil’s Rousseff To Travel To Peru In 2012

Brazilian President Dilma Rousseff is to visit Peru in 2012 to meet with President Ollanta Humala, according to Brazil’s Foreign Affairs minister Antonio de Aguiar Patriota.

Humala and Rousseff met during the recent meeting of the United Nations General Assembly in New York. As well, Humala’s first visit following his June 5 election was to Brazil to meet with Rousseff and other government officials.

Brazil, South America’s biggest economy, is playing an increasingly larger political role in the region.

During the presidential campaign, Humala, who brought in Brazilian advisors, Read more…

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