Colombian investments in Peru reached a record figure of US$4.6 billion

RIO DE JANEIRO, BRAZIL – This year marks the bicentennial of diplomatic relations between Colombia and Peru. Therefore, several events have been held to celebrate both countries’ development in economic, industrial, financial, and cultural matters.

Just a few days ago, the first Binational Concert was held at the National Theater of Bogota and attended by the Peruvian cultural portfolio head, Alejandro Salas Zegarra.

Now, following the consecration of 200 years of stable bilateral relations, the Peruvian Export and Tourism Promotion Commission (PromPeru) highlighted the investments made by Colombian companies in Inca lands, pointing out that since 2003, a total of 29 Colombian companies have settled in their country developing 35 projects in the sectors of manufacturing, transportation and storage, hydrocarbons, food and beverage consumption, and tourism, among others that have represented smaller participation.

The entity points out that investments made by Colombia in Peru exceed US$4.6 billion, considering this as a ‘historical’ fact if factors such as the economic and sanitary emergency decreed in a good part of the world -including Colombia- by covid-19 are taken into account.

In this regard, Daniel Córdova, director of Business Investment Promotion of PromPerú, spoke to Infobae Colombia about this achievement that ratifies the good moment Peru is going through in terms of foreign investment coming from the coffee lands, indicating that “it is quite an important figure because it is an accumulated amount of Colombian investment in Peru that has been accumulated in the last 20 years made real through the execution of more than 30 projects” of Colombian companies.

Likewise, Córdova indicated that, although Colombia is the country with the second-highest investment indicators after Chile, “there is an important space to exploit because the US$4.6 billion represent a little more than 4% of all the foreign direct investment that Peru has attracted since 2003,″ with which Colombia could have a greater impact in the medium term.

The PromPerú official also mentioned the academic forum Invest Day: Peru – Colombia 2022 to be held in Lima on July 8 and 9 at the city’s Convention Center, “to give greater impetus to the economic and sustainable reactivation of the region, generating new opportunities for work and cooperation between countries”.

During the two days, a portfolio of companies with 72 private projects will be presented, seeking to attract an estimated joint investment of more than US$791 million to be developed in 15 Peruvian regions, specifically in productive sectors oriented to non-traditional exports and tourism, given their potential.

OPTIMISM IN THE FACE OF COLOMBIA’S GOVERNMENT CHANGE

According to the PromPerú executive, for the analysis of investments made in Peru, they take into account the track record (results curve of an investor) and the social and political transformations both in his country and in Colombia.

In that order, he said there is optimism regarding the new government led by the elected president, Gustavo Petro, and the will of business people.

“First, we would have to wait for the new government to start, and based on that, see what actions they take and their effects, but for now, we are quite optimistic from the microeconomic and sectorial point of view,” said Cordova, emphasizing the strengths that Colombia has shown in recent years concerning the interest in investing and expanding its companies in the country.

The same excitement is kept in the expansion of Peruvian businesses in the coffee soil.

With information from Infobae

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