Interview with the director of the Private Investment Promotion Agency of Peru
By Reporter Ms. Kim Sua
There was a road show entitled “Peru: Investment Opportunities in Infrastructure and Public Services” at the Grand Hyatt Seoul on May 16, 2018, where The Korea Post media conducted an interview with Director Cesar Penaranda of Private Investment Promotion Agency . The following are excerpts from the interview.--Ed.
Question: Business leaders want to make money for the company and the country. What are the best areas in Peru for the Korean companies to make investment in for good money?
Answer: The best areas of investment within the infrastructure industry, due to the current gap, I would suggest, are the transport and water.
Q: Who are the Korean companies already in Peru making good money and contributing to the development of economy and other areas in Peru?
A: There are a good number of Korean brands already established in Peru such as Samsung, LG, Hyundai, Daewoo, among others.
Also, companies that have shown appetite in the Peruvian market, include Rothwell and Posco, and a dozen of other Korean businesses whom we met during the last year from water, health, infrastructure, telecoms, oil and gas and transportation industries.
Q: What, if any, are the incentives and/or other privileges for the Korean companies wanting to move into Peru?
A: We have regulations that legally protect the international investor at same level as it protects local investors. Peru and Korea hold a free trade agreement and both countries are members of the Asia-Pacific Economic Cooperation, putting Peru and Korea in an ideal scenario to further strengthening the commercial relations between these two nations strategically located on both sides of the Pacific.
Q: What are the important points of the economic development plan of Peru?
A: Some 80 percent of the investment total in Peru is private and so we need private investment to grow, and the big component of the investment is in infrastructure. Very important for to have investors with high knowledge, innovation and technology and invest in transport, waters, and energy.
Q: Who is the Head of Government of Peru? Does he have any relationship with Korea, or any specific personalities in Korea?
A: President Martin Vizcarra of Peru is an engineer. The previous one stepped down and the markets received the news very well. The profile of the new president is anngineer and governor of region. He wants to help the different regions of Peru, and to attract investments to Peru as a whole. He was also a Peruvian mbassador in Canada, and Minister of Transports and Communications.
Q: Please add and state whatever important area or areas we might have left out from our interview questionnaire.
A: Transport, water and energy are three priority sectors and we comeback after six months because we come to follow up on the communications initiated last September. We strongly believe Korean companies have the experience and knowledge to help Peru further develop its growth through strategic investments in the above-mentioned sectors.
As the former Korean ambassador to Peru, Mr. Jang Keun Ho, mentioned at the conference today it is so important to receive Korean companies, and directors to Peru, but it is also important for the Peruvian authorities to come to the country to continue discussions and dialogue to achieve results-close deals in the nearer future.
