The President of the Republic, Dina Boluarte, announced the creation of a “Peru-China Joint Commission” to facilitate a portfolio of Government to Government (G2G) projects with that country, aimed at providing “productive infrastructure and social services” locally.
Previously, Boluarte had also confirmed the creation of a “Ministry of Infrastructure” that would concentrate under one umbrella the work of the different organizations currently responsible for promoting investments, such as ProInversión.
“I would like to announce that, as a result of our State Visit to China, we are establishing a Peru-China Joint Commission to develop a portfolio of projects under the State-State modality that will allow for the execution of important investments for the development of productive infrastructure and social services, generating thousands of jobs,” said the Head of State.
A G2G agreement is a tool that allows governments from different countries to contribute to the generation of projects among themselves. It is considered one of the safest, since the guarantees and studies are provided by a State, and not by a company. G2Gs also stand out because they require large capital investments. The Carretera Central, for example, is run by France.
“This year we will be in the eyes of the world. In November we will receive the leaders of the largest economies in the framework of the APEC Forum Summit, an opportunity in which we will inaugurate the Chancay megaport, one of the largest projects ever carried out in our country, which will reaffirm Peru’s strategic position in America,” he said later.
Other road projects recently announced by the Peruvian government, through the Ministry of Transport and Communications (MTC), are the Lima-Ica and San Juan de Marcona-Andahuaylas railways, with a joint investment of almost US$15 billion. Both will also be developed under the G2G modality.
It should be noted that, following the inauguration of the Chancay megaport in November of this year, the construction of different road projects is expected to connect the different production and trade hubs of Peru and the region with the new hub, such as the Bioceanic Train with Brazil.
According to the Peruvian-Chinese Chamber of Commerce (Capechi), China’s investments in Peru exceed US$30 billion.
Source: Larepublica
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