Peru adds US$6 billion in projects managed by other countries

RIO DE JANEIRO, BRAZIL – Peru has accumulated close to 24 billion soles (about US$6 billion) in committed investment for infrastructure projects managed and supervised by other countries, through government-to-government (G2G) modality, according to the Lima Chamber of Commerce (CCL).

A total of six projects are currently being executed under this modality, which guarantees good practices, reduces the risk of non-compliance, shortens deadlines and allows the transfer of knowledge.

Read also: Check out our coverage on Peru

Among these projects are the new Cusco airport, in charge of South Korea; the Comprehensive Plan for Reconstruction with Change (Pircc) in the north of the country after the 2017 floods, in the hands of the United Kingdom; and the new Central Highway and the Sergio Bernales and Antonio Lorena hospitals, managed by France.

“G2Gs have not only become an effective alternative to materialize infrastructure works, but also have the potential to close the existing gap in the sector,” highlighted in a statement the president of the Infrastructure and Engineering Guild of the CCL, Miguel Honores.

The guild representative said that G2G mechanisms ensure the execution of projects with the speed of contracts and knowledge transfer.

Government-to-government contracts have become the preferred modality of Peruvian authorities for large public works after the scandal involving Brazil’s private construction giant Odebrecht, which paid multi-million-dollar bribes between 2005 and 2014 to win the country’s main infrastructure tenders.

The first agreement with a foreign government was to build the venues for the Pan American Games in Lima 2019, an experiment with the United Kingdom that proved to be successful by managing to execute all the works in just two years.

To encourage this type of infrastructure project management, the Lima Chamber of Commerce will offer a webinar next Tuesday with the support of the Peruvian-Canadian Chamber of Commerce.

This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error