Photo: Made in Peru
Fresh off of successful road shows in London and Hong Kong, inPERU, a non-profit association made up of government and financial entities whose main goal is to promote investment opportunities in Peru, continues its U.S. tour. On Wednesday, Jan. 30, the inPERU Road Show arrives in Chicago for its second stop in its US three-city tour – including stops in New York City and San Francisco.
The following delegation members will be speaking on why Peru offers unique and attractive opportunities for international investors:
· Peruvian Foreign Trade and Tourism Minister José Luis Silva
· Peruvian Minister of Economy and Finance Luis Miguel Castilla
· Peruvian Central Bank President Julio Velarde
· Chariman of inPERU Roberto Hoyle
· Vice Chairman of inPERU José Antonio Blanco
There will be one-on-one interview opportunities available throughout the day along with various seminars.
As you may know, Peru has made recent headlines regarding projected growth of its economy and tourism:
· Peru’s economy likely grew 6.3 percent in 2012, according to Finance Minister Luis Miguel Castilla, faster than official estimates and likely the quickest expansion in South America as domestic demand surges.
· Peru is aiming to attract 6 million tourists by 2016. In 2012, he said, Peru saw 2.9 million tourists, who generated $3.3 billion in revenue for the country’s tourism industry.
· Peruvian exports are expected to recover and reach levels achieved in 2011, according to Peru’s Trade and Tourism minister, Jose Luis Silva. The optimistic forecast is based on the recovery expected in the European and U.S. economies, Silva said. Peru’s exports will likely grow 5% this year on the back of a recovery in foreign demand, Peruvian Finance Minister Luis Miguel Castilla said Friday, and non-traditional exports (agriculture like grapes) will be up 9%.
· Peru, the world’s second-largest copper producer after Chile, reported exports of about $46 billion in 2011. The private-sector association Adex expects exports to decline to almost $44 billion this year as a result of lower mineral shipments. Mining represents about 10% of Peru’s gross domestic product, 30% of government revenue and 60% of total exports. Copper is the country’s main export and, in 2011, accounted for about 20% of total shipments. Copper production, which reached 1.24 million tons in 2011, is expected to double by 2017, Mr. Castilla added. In 2012, the Mines and Energy Ministry expects copper output to have increased 7.8% to 1.33 million tons. The mining sector’s expansion has increased demand for energy, but supply isn’t growing at the same pace. Like many other emerging-market, export-based countries, Peru is facing a strong local currency versus the greenback that is hurting exporters, particularly those outside the mining sector.