Mexican investors interested in entering Peruvian market
Lima. Photo by the ANDAINA news agency. Sketched by the Pan Pacific Agency.
LIMA, Nov 5, 2019, ANDINA. Mexican Ambassador to Peru Victor Hugo Morales has affirmed that his nation’s investors are interested in entering the South American country’s market given its stable economic growth in Latin America, ANDINA reported.
“Certainly, there is interest. We have a very broad outline of Mexican presence. We are among the 10 largest investors in Peru,” Morales told news agency.
“Mining is the most relevant sector, also relevant is the telecommunications (sector) with Claro; in the food sector Bimbo and Arca Continental are present, (the latter) which is part of Inca Kola, in distribution with Oxxo,” he added.
According to Morales, the Mexican business community sees Peru as a stable and growing economy.
“Despite the numbers, in Latin American terms, it is a very healthy and strong economy, which is moving forward,” he expressed.
According to figures by Peru’s State-run Private Investment Promotion Agency (ProInversion), Mexico ranks 10th among the main investors in the South American country, with a foreign direct investment (FDI) as capital contribution amounting to US$577.7 million at the end of 2018.
Remarks were made after participating in the signing of the concession agreement in the form of Public Private Partnership (PPP) of the Lake Titicaca Basin Wastewater Treatment System project – PTW Titicaca, which will be in charge of a Mexican consortium.
More capital for growth
Likewise, the Mexican Ambassador said Peru requires greater capital injections for its economic growth.
Furthermore, it is a home market for the expansion of businesses that already operate in the Inca nation.
“There is also a manufacturing sector that needs to be energized. Peru must look into the future (…). There are also good opportunities for the country due to its extraordinary geographic location, along with the diversity of resources and the human talent,” he explained.
Pacific Alliance
As is known, Chile, Colombia, Mexico, and Peru comprise the Pacific Alliance.
The Pacific Alliance —created in 2011— is an integration initiative focused on reducing trade barriers, as well as fostering the free circulation of goods, services, capitals, and people across its territories.
The bloc relies on observer countries and represents the eighth-largest economy in the world.
Nowadays, it has become the axis of a new way of doing business in the continent.
On an annual basis, the Pacific Alliance rotates the pro-tempore presidency among its members.
Peru handed over the presidency to Chile at the summit held in Lima last July.
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