Living in Peru : your everyday companion

LivinginPeru.com
Isabel Guerra

According to international reports, Peru's IT spending is forecast to remain in positive this years, due to double- digit PC sales growth.

Although Peru has one of the smaller IT markets in the Latin American region, its spending is projected to grow at a compound annual growth rate of 13% over the 2008-2013 period: total spending on IT products and services is forecast to pass US$1.8bn by 2013.

The low PC penetration rate (less than 200%) allows many to think there is a great potential market, and plenty of room for further development.

In addition, Peru's IT market appears better placed than most others in the region to withstand the current global economic headwinds: per capita IT spending is projected to grow to US$58 by 2013, from around US$38 in 2009.

Peru's government continues to focus on its agenda of information and communication technology for development, and another government priority is to strengthen the domestic software sector.

Software market leader Microsoft has predicted double-digit growth for Peruvian software sector sales this year, and in July 2009 said that it would strengthen its local operations.

Peru's software market is projected to be worth US$124mn in 2009, with the market reaching a value of US$210mn by 2013.

(Condensed from PRInside.com)

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LivinginPeru.com
Isabel Guerra

Peru's Mining vice Minister, Fernando Gala, said that his sector expects that Doe Run Peru can resume operations during the first months of 2010.

According to La Republica, Jose Mogrovejo, vice Doe Run's vice President of Environmental Affairs, said the company hopes so too.

Last Friday, Doe Run's representatives and the workers agreed to continue in stand-by until they can restart operations.

The workers will continue to receive 65% of their monthly salaries until then.

In addition, Gala told the press that the Economy and Finance Ministry will request Doe Run Peru to present a 100% guarantee, along with letters of guarantee.

Doe Run has also committed to pay the workers their usual Christmas bonus in December.

Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.

LivinginPeru.com
Isabel Guerra

Cusco's Economic Development Manager (DD.EE) in Cuzco, Jean Paul Benavente, said that the investments in the construction of hotels is increasing every year by 13%.

But it's not only about building new hotels; this is also related to the remodeling and expansion of micro and small hotels that many Cuzco families run in Cusco region.

According to El Sol, a local newspaper, the Imperial City is concentrating the most of these investments, which will allow to enter the Asian tourists market and meet their demands.

This would also boost related business such as tourist agencies, restaurants, hotels and others.

According to statistics, Cusco hotel industry has mostly European investors, along with Chilean and others.

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Andina

Peruvian mango exports are expected to reach 80,000 metric tons (MT) in the 2009-2010 season if the current climate trends continue, said the Peruvian Association of Mango Producers and Exporters (APEM).

The APEM explained that this year’s weather conditions are favorable for the cultivation of Kent, Tommy A. and Haden mango varieties in the departments of Piura, Lambayeque and Ancash (Casma), respectively.

The weather conditions’ positive effect during May, June, July, August and September has been reflected in multiple blooms on almost all the mango varieties.

Due to the presence of two and even three blooming seasons well marked in Piura and, to a lesser extent, in the departments of Lambayeque and Ancash, we expect a longer harvest period from the second week of November until the second week of March, said the magazine AgroNegociosPerú.

In September, export-oriented mango plantations in San Lorenzo had a 17.66 percent blooming, presenting a 43.70 percent of fruit curd and a 34.01 percent of fruit filling, with a flower coverage of 95.36 percent.

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LivinginPeru.com
Isabel Guerra

Peru hopes to obtain US$750 million annually from asparagus exports by 2015, said Peru's Foreign Trade Minister, Martin Perez.

During the closing ceremony of the 12th  International Asparagus Symposium, held in Lima, Perez pointed out that the industry of this agricultural product creates more than 65,000 jobs in Peru.

Peru, the number one exporter and the number two producer of asparagus in the world, produces 300,000 tons of this vegetable each year; and between January and September this year, exports reached US$251 million, according to the Peruvian Institute of Asparagus and Vegetables (IPEH by the initials in Spanish).

Last year, Peruvian asparagus exportations were worth US$450 millions, four times the value of other agricultural products sales, such as grapes or artichokes.

Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.

LivinginPeru.com
Isabel Guerra

Peru's Foreign Trade and Tourism Minister, Martín Pérez, estimates that Peruvian investements in Chile could double, amounting US $5 billion.

“I have no doubt about it,” said the Minister.

He revealed that the Chilean authorities who he met agreed to allow the increase of Peruvian investments in that country, in order to create more jobs.

“Peruvian companies have experienced a significant capitalization, and I have no doubts that a great international expansion is about to start: we are going to see much more Peruvian investment abroad during the next decade,” he said.

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LivinginPeru.com
Isabel Guerra

Wong group, which has companies operating in agro-industries, real estate, banking, investments and fishing, has reported a turnover of S/. 112.5 million soles (approx. US $37.5 dollars) during 2009, which means an increase of more than 50% compared to the same period last year.

The group also accumulated assets worth S/.920 millions and patrimony of S/.326 millions. However, it also reported losses amounting to S/.5 millions.

Ewong group's businesses are Paramonga, that has 14% of participation in local sugar market; in the real estate sector they run Plaza Norte, Nazaho, Tulcea, Inversiones Oregon and construction company Gelan.

Regarding finances, their main firm is Caja Rural Prymera, and also firms like Barroco, Riveroak Finance Corp., Karkeith Corporation, Argex Trading Finance Ltd. And Inversiones Dagomar.

EWong group also owns Inversiones Prisco, which hopes to close 2009 with a profit of US $12 million dollars.

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LivinginPeru.com
Isabel Guerra

Chilean firm Falabella will invest US $600 million dollars in Peru during the next three years, reiterated its General Manager Juan Benavides, who had mentioned that possibility months ago.

He said that Peruvian Market offers “great opportunities for economic expansion,” and that part of the aforementioned amount will cover projects inside and outside Lima, under the different stores and products they manage, that is, Saga, Tottus, Sodimac and Banco Falabella.

Benavides said that besides a shopping mall in Surquillo (Lima) and Arequipa's Aventura Plaza Mall, they have more projects for 2010, aiming to face the competition of other shopping centers that operate in Peru, but refused to go into further details.

Falabella currently works with 2,000 Peruvian suppliers, and is reportedly developing plans to make these micro and small firms supply Falabella's stores in Argentina and Colombia too.

Last year, Falabella's operations in Peru reached US$1.2 billion.

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LivinginPeru.com
Isabel Guerra

Restaurant business give employment to more than 320,000 Peruvians nationwide, which means an increase of 38% since 2007, according to a research done by Arellano Marketing Research and to data from the Gastronomy Peruvian Society.

The figure is bigger than that of 2007; the average salary is S/. 740 in provinces and S/. 800 new soles in Lima.

The report made by Arellano Marketing says that 188,000 Limenians would be working in this sector in 2009.

"This is a great step forward because there were 135,000 people working in this sector in 2007, when Peruvian gastronomy didn't draw too much attention," says the document.

Despite the importance and growth of this sector in recent years, this sector shows low levels of formality, which must be worked out in order to assure more quality of the products offered.

The document finally assures that the restaurant sector contribution is often associated with the hotel industry, and that up to 2007, the restaurant and hotel industry had a participation of 3.7% in the Gross Domestic Product (GDP) and this percentage may grow in the next years.

Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.

LivinginPeru.com
Isabel Guerra

With the aim to promote, to speed up and to improve the levels of articulation among the members of the different production chains, the regional government has organized the 7th "Puno Expo Fair" (2009), which is to be held between November 6th and 8th

It will try to open new commercial spaces among primary productors, transformers and tradesmen of strategic products for the development of Puno.

During the event, some festivals are set to be held, such as quinua and cañihua's, trucha's, coffee's, as well as the 6th Regional Touristic Fair, the 3rd Craftsmanship, and the exhibition and sale of products from the farming and livestock sector.

The fair will be held in coordination with several public and private institutions at San Carlos school. Interested investors may ask for information at the Regional Managment of Economic Development of the Regional Government at Deustua 356 Street, telefax (051) 353071, or write to: expopuno2009@yahoo.es 

Have other topics you'd like to see in our news section? If you or someone you know would like to contribute a news article to Living in Peru, whether it's translated or based on a personal investigation, send it to editor@livinginperu.com.