In the following 12 months, government efforts will be focused on developing large projects aimed at reducing infrastructure deficit, President of the Peruvian Association of Investment Professionals (CFA Society Peru) Melvin Escudero informed.
“Peruvian President Ollanta Humala has been quite clear in his July 28th address to the nation, as he listed large projects pending implementation and whose execution will be a priority,” he was quoted as saying by the official daily El Peruano.
Plans
Some of the highlights include the construction of Gasoducto del Sur (Southern Gas Pipeline), Lima Metro Line 2, Longitudinal De la Sierra (Longitudinal Highway in the Highlands) road project, among other plans of significant impact for the national economy.
“The execution of these projects will create a favorable context to encourage gross domestic product (GDP) growth,” he said.
During his Independence Day speech, the Peruvian leader also informed that the current paved area is 3.5 times larger than that of the previous administration, which is a major milestone in the history of the country.
Likewise, he said about 1,000 bridges will have been constructed across the country by July next year.
Free Market
Escudero underlined that another key point in the presidential speech was the fact that the economic model has been reaffirmed based on democracy, free market and globalization.
“That is a very good sign for international investors who have been watching Latin American countries with concern,” he stated.
There is clear need for investment in Peru, so the stable economic environment is favorable to attract greater flow of capital,” he noted.
With regard to the nearly S/.1 billion (US$313.4 million) investment committed to reducing the country’s digital gap through the concession of national fiber-optic backbone network projects, Escudero said this discloses a long-term vision.
“It is true we need to work towards infrastructure gap reduction, but the digital gap –which prepares us for the future– has to be narrowed, too," he added.
When it comes to education, greater social inclusion, health, connectivity in general, among other topics, he continued, Internet is the way forward.
“It would be convenient to have the Production Ministry –which is in charge of promoting innovation– contribute to the subject of digitalization,” he assured.
(END) LBH/RMB/MVB
Published: 7/30/2015