Living in Peru : your everyday companion

The Peruvian-Chinese Chamber of Commerce (Capechi) estimated today that Chinese investments in Peru might reach $1 billion during the next year due to the launch of new companies and the promotion of investment opportunities during international events.

The president of Capechi, Eduardo McBride indicated that Chinese investments in Peru have suffered a kind of economic stagnation in the amount of 300 million dollars; and since the operation of Shougang mining company in the 90’s, there have not been important Chinese investments registered.

However, McBride explained this tendency would begin to change with the investments of Aluminum Corporation of China (Chinalco, in Junin’s mining project Toromocho; and Consorcio Zijin, which manages the Río Blanco Copper company in Piura’s mining project.

Furthermore, the results to be achieved by the Peruvian delegation in the Second China-Latin America Business Summit, which will take place in China next October, and the meetings held to promote investments in Peru in the framework of APEC, which the Andean country is to host, will be added to change this trend.

News source: ANDINA