Peru’s industrial sector to invest $4.6 billion in 2010

Companies in Peru’s industrial sector are expected to invest $4.6 billion in 2010, up more than 40% from $3.2 billion invested by the sector last year, state news agency Andina reported Javier Dávila, the head of economic studies at the country’s National Industry Society, as saying. Dávila said most of the investments will come from [...]

Peru becomes 41st adherent to OECD Declaration on International Investment and Multinational Enterprises

Peru became the 41st adherent to the Organisation for Economic Cooperation and Development’s Declaration on International Investment and Multinational Enterprises. The acceptance has been made in recognition of Peru’s “remarkable progress in pursuing investment policy reforms to improve the country’s business climate and reduce poverty,” indicated OECD representatives Thursday. “These initiatives have helped drive robust [...]

Energy investment to increase electric generation

The National Society for Mining, Petroleum and Energy, Snmpe, announced a plan today to develop four projects that will increase electric generation by 770 megawatts. The president of Snmpe’s electric committee, Ignacio Blanco, told Agencia Andina the projects will require an investment of between $400 and $500 million and has a planned completion date for [...]

Peru Congress approves modified tourism development law ahead of Cusco protests

Congress approved a controversial tourism development law on Wednesday that will ease private investment adjacent to Peru’s rich archaeological ruins and historic sites. The legislation was opposed by opposition lawmakers and some regional governments, including authorities from Cusco who say they will begin indefinite protests on Friday that would threaten services to Machu Picchu, Peru’s [...]

La República: Military budget increases by more than 50 percent

Peru’s military budget will reportedly increase by 53 percent in 2008, with a large percentage of it intended to upgrade equipment and reinforce the country’s borders. The military’s budget will increase from about 1.7 billion soles, about $585 million, in 2007, to more than 2.7 billion soles, about $930 million, in 2008, daily La República [...]