Peru’s increasing demand for infrastructure is highlighted by Minister José Arista, who notes a significant investment of nearly S/58 billion (approximately US$15.483 billion) for 2024. He emphasizes the country’s infrastructure deficit, estimated between US$100 billion and US$150 billion, and the urgent need for both public and private investments in logistics to meet growing demands in key transportation sectors. The focus on strategic partnerships is critical for Peru to leverage its geographic advantages and drive economic growth.
The increasing demand for enhanced infrastructure in Peru has been underscored by Economy and Finance Minister José Arista. He noted the pressing requirement for expanded capacity in ports, roads, rails, and airports among other public works. In his assessment of the nation’s economic performance, he indicated that 2024 is projected to be a remarkable year for Peru’s economy, highlighted by an unprecedented investment execution totaling nearly S/58 billion (approximately US$15.483 billion). This figure represents a 16% increase over 2023’s commendable investment totals.
Minister Arista articulated the critical nature of these infrastructures, pointing out that Peru currently faces an estimated infrastructure deficit ranging between US$100 billion and US$150 billion. He remarked, “And this gap is growing; what we need is to invest more and more.” Notably, the infrastructure demands in the Callao region’s port hub, as well as at the New Jorge Chávez International Airport, emphasize the urgency of better facilities. He stated, “We cannot intend to be Latin America’s port hub with the same logistics infrastructure that we have now.”
He further emphasized the necessity of increasing investments in logistics infrastructure, particularly in relation to two major ports and the new international airport, which are essential for global connectivity. The minister remarked on the immediate requirement for investment in southern and northern ports, highlighting the inadequacy of government resources alone and calling for private sector involvement. He stated, “The demand to increase the size of these ports is growing, as is the need to widen our roads and highways.”
Mr. Arista elaborated on the dire requirement for Public-Private Partnership (PPP) agreements to facilitate development, citing the Matarani, Chimbote, and Etén Ports as pertinent examples. He noted, “Indeed, our demand for more infrastructure is intensifying, and that is why we are glad to invest this amount of resources…” However, he realistically acknowledged that this investment still falls short of actual needs. He asserted that for Peru to achieve GDP growth rates exceeding 3.2% to 3.3%, and ideally reaching 5%, 6%, or 7%, there must be an intensified focus on infrastructure investments to leverage the country’s geographic advantages.
Peru is experiencing a rising demand for infrastructure developments due to the increasing needs of its economy. The Minister of Economy and Finance, José Arista, has highlighted infrastructure deficits as a significant challenge hindering the country’s economic growth. Investments in essential infrastructure—including transportation networks and logistics—are critical for improving connectivity and facilitating trade, particularly as Peru aims to become a key player in Latin American trade with its geographic advantages. The government is exploring various avenues for both public funding and private sector engagements to close existing gaps in infrastructure.
In conclusion, the urgency for enhanced infrastructure investment in Peru is clear, as articulated by Minister José Arista. The country faces a significant deficit in infrastructure that requires immediate action and collaboration with private investors to stimulate growth. With projected investment levels rising, there remains an essential need for continued focus on developing logistics and connectivity to foster economic expansion. Peru’s aspirations to become a competitive trade hub in Latin America will depend substantially on its ability to address these critical infrastructure challenges efficiently.
Original Source: andina.pe
