More excellent news from Peru, especially following the recent announcements of the new mining taxes:
MEF sees foreign investment in Peru growing tenfold by 2016
Peruvian Finance Minister Miguel Castilla. Photo:ANDINA/Norman Cordova
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Lima, Sep. 27 (ANDINA). Peru's Ministry of Economy and Finance (MEF) has predicted that foreign investment in the country will continue to grow rapidly and could be ten times the current levels over the next five years.
Finance Minister Luis Miguel Castilla, who attended the Peru Investment Forum last week in New York, said that "the country receives US$7 billion of investment and we expect it to grow tenfold over the next five-year period."
He pointed out that "the government aims to promote investments not only in the energy-mining sector but also in other productive sectors which are important for the development of the country."
"Meetings such as the Peru Investment Forum–2011, in which investors learn about the policies to be followed, are very important to clear doubts and build confidence," the minister stated.
The September 21 event in New York featured Peruvian President Ollanta Humala as keynote speaker and attracted more than 200 investors. It was organized by the Peruvian Business Council, a not-for-profit organization dedicated to promoting investment and business opportunities in Peru.