Peru Aims To Attract US High Tech Investment

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By LatAm Reports Editorial Team

The following press release was circulated by Commission for the Promotion of Peru for Exports and Tourism:

The Commission for the Promotion of Peru for Exports and Tourism (PROMPERÚ) recently held the “Invest Peru Roadshow” to highlight opportunities for high tech business investments in the country. Various companies from the United States Technology Base gathered in Pasadena, California, to hear about the portfolio of investment opportunities and collaboration in areas such as Fintech, Artificial Intelligence, and AgroTech, among others.

The roadshow showcased Peru’s macroeconomic strengths and favorable business climate through a series of conferences and panels. Alongside this, the Peruvian delegation, led by PROMPERÚ Director of Business Investment Promotion Daniel Cordova, met with representatives from organizations such as Build Your Dreams, Caltech, and the Huntington Medical Research Institute to explore potential partnerships and investments.

“More and more foreign technology companies are looking at the Peruvian market,” stated Cordova. “Not only are there economic factors to consider, including the incentive Peru grants for high tech investments, but we also have a strong innovation ecosystem. Universities, incubators, accelerators, impact investment funds, corporate actors, business groups, and state institutions are joining their efforts to boost technological development in Peru.”

PROMOTING INNOVATION AND BUSINESS COLLABORATION

According to PROMPERÚ data, the United States, Spain, and Argentina are the top countries that have invested in the country’s high tech sector, representing a combined 54% of total foreign direct investment. Between 2003 and 2022, this sector received over US$430 million in foreign direct investment through 116 projects owned by 107 companies. There has been a significant growth trend in this area as well, with the last five years accounting for 44% of the sector’s total financing.

With its focus on innovation and business collaboration, Peru seeks to consolidate itself as a center for tech investment, promoting economic growth and job creation in the country.

PROMPERÚ’s Business Investment Promotion Directorate seeks to aid these efforts, providing advice and support to companies or individuals wishing to invest in the country and promoting sectors beyond technology, including mining, agriculture, and textiles.

ABOUT PROMPERÚ

PROMPERÚ seeks to position Peru in the world by promoting its image, business investments, and value-added export products, contributing to sustainable and decentralized development in the country.