Investment is what we need to grow and close gaps, since greater dynamism will speed up Peruvian economy and create new jobs, Lima Chamber of Commerce (CCL) head Mario Mongilardi said on Wednesday.
"Greater private investment is the way to close gaps of any kind: infrastructure, education, health, among others. Fewer gaps will help us address development-related challenges in the following years," he said within the framework of Quo Vadis 2017, held at Lima Chamber of Commerce (CCL).
He recalled 80% of Peru's total investment comes from private sector and the remaining 20% from public sources.
In this sense, he explained private investment accounts for 20% of the country's Gross Domestic Product (GDP).
Nevertheless, the CCL officer continued, private investment started to slow down in the middle of the previous government cycle.
Business confidence
What matters now, he said, is the restoration of business confidence, as this will facilitate the implementation of investment projects.
"It is time to stimulate investment. We can send a message to the private sector explaining investment is what we need in order to close gaps and grow," Mongilardi was quoted as saying.
The officer affirmed the country needs to foster growth and formality of businesses to secure more resources for the State and employment opportunities.
(END) RGP/JJN/RMB/MVB
Published: 4/19/2017