The Commission for the Promotion of Peru for Exports and Tourism (PROMPERÚ) organized the Miami 2023 Investment Roadshow, aimed at potential investors, investment funds and investment multiplier agents, with the aim of consolidating the image of Peru as a travel destination. Foreign Direct Investments from the state of Florida.
During the three days that the event lasted, 11 bilateral meetings were organized with representatives of the most important financial, investment and foreign trade institutions in Miami, as well as an investment promotion seminar in which they presented, to 76 companies, potential investors and key agents of the local investment ecosystem, the comparative advantages and investment opportunities that Peru offers in three main sectors: Tourism, High Technology and Various Manufacturing.
The Peruvian delegation that visited Miami for said event was headed by Teresa Mera, vice minister of Foreign Trade; and had, among its members, Juan Pichihua, vice minister of Economy, and Daniel Córdova, director of Business Investment Promotion at PROMPERÚ.
“We have made known the macroeconomic strengths, the good business climate and the comparative and competitive advantages that Peru offers. "All this potential implies valuable business and investment opportunities that we want to promote in the business community of the state of Florida, which has invested more than USD 2.9 billion in Peru, so that it can consolidate itself as a strategic ally for the economic dynamism of Peru," Mera Gómez pointed out.
The Miami 2023 Investment Roadshow is part of the strategy that PROMPERÚ carries out through the Business Investment Promotion Directorate to promote the attraction, retention and expansion of foreign direct investment in ventures aimed at generating goods and services in Peru.
The decision to hold the event in Miami was due to the presence, in said market, of potential investors from the United States with focus or operations in Latin America and the recent economic growth from the state of Florida. Likewise, Miami, being an international city and an important financial center, offers various opportunities to facilitate investments in Peru.
According to statistics from the Financial Times fDi Markets platform, in the last 20 years the state of the United States that invested the most in Peru was Florida (with USD 2,977.3 million), which groups 24 % of FDI from this country.
As part of the promotional activities for business investments, the Vice Minister of Foreign Trade led strategic private meetings with representatives of PortMiami, the Latin American Chamber of Commerce, the Peruvian Chamber of Commerce in Florida and Port Everglades, in which topics such as commercial opportunities, logistical facilities, experience of commercial economic zones and support for the internationalization of companies, among others, were discussed.
Simultaneously, the Vice Minister of Economy and the Director of Business Investment Promotion held meetings with potential investors, highlighting those held with key agents in the financial and banking field; addressing issues related to favorable economic regulations, incentives and the presentation of the potential and investment opportunities that Peru has, respectively.
“We want to show potential investors not only the business opportunities but also the structural strengths that our country has, such as our strategic location in the center of South America as a gateway to the markets of the Pacific basin; or our legal framework, which promotes foreign investments and guarantees fair and equitable treatment to foreign investors,” said Córdova Espinoza.
United States Investments in Peru
According to the fDi Markets platform, in the last 20 years Peru accumulated USD 12,318 million of Foreign Direct Investment (FDI) from the United States, corresponding to 224 registered investment projects, which generated 32,614 direct jobs in our country.
In that period of time, the state that invested the most in Peru was Florida, which accounts for 24% of FDI from the United States (USD 2,977.3 million).
The years 2008 and 2013 hold the record for US investment in our country, with USD 3,357 million and USD 3,054 million, respectively. In 2022, this country's investment in Peru reached USD 231.6 million.
According to the aforementioned platform, the five American cities that lead the injection of capital in Peru are Deerfield Beach (Florida) with USD 2,794.4 million, followed by New York City (New York) with USD 1,852.5 million, Deerfield (Illinois) with USD 1,029.4 million, Phoenix (Arizona) with USD 845 million and Houston (Texas) with USD 640 million. The strategic investment from these five cities generated 15 thousand direct jobs in Peru.
Regarding the sectors that concentrate the greatest FDI from the United States, mining/metals (34%) stand out, followed by logistics (14%), communications (10%), chemicals (10%) and energy (10%). These data show the diversification of US investment in key sectors for the sustainable development of Peru.