Private investment in Peru is in a recovery process after declines in recent years (-0.4% in 2022 and -7.3% in 2023). By 2024, growth is projected at 2.5% according to the Ministry of Economy and Finance (MEF), and 3% according to the Central Reserve Bank of Peru (BCRP), driven mainly by mining, infrastructure and energy projects. This growth could continue in 2025, with estimated increases between 3% and 4.1%, depending on the sources consulted.

Between January and August 2024, Proinversion, the Private Investment Promotion Agency, awarded projects for US$7.981 billion, including the following7,981 million, highlighting:

• TransportationPeripheral Ring Road (US$ 3,396 million) and modernization of the Huancayo-Huancavelica Railway (US$ 565 million).
• EnergyPower transmission lines (US$ 1,694 MILLION 1,694 million).

In addition, Proinversion manages a portfolio of US$ 18.7 BILLION 18.7 billion in projects to be awarded between 2024 and 2025, which reinforces the growth outlook. Gross fixed investment as a percentage of GDP remains at a solid 22.8% in 2024. 22.8% in 2024with expectations of reaching 23% next year..

Looking ahead to 2025 -and the years to come-, different projects in the most representative national industries are highlighted. Among them are:

• Mining. It will continue to lead investments with strategic projects such as Yanacocha Sulfides (US$ 2.5 billion) and Michiquillay (US$ 2.5 billion). In addition, Coroccohuayco Integration (US$ 1.5 billion) and Trapiche (US$ 1,038 million) will begin their construction stages around 2027-2028.
• Infrastructure. The growth of the sector includes the consolidation of emblematic projects such as the Port of Chancaywhich will operate as a key hub to connect South America with Asia, and the Lima Metro Line 2designed to improve urban connectivity. Also noteworthy are initiatives such as the Peripheral Road Ring and the modernization of transportation and logistics systems throughout the country.
• Industry and Agribusiness. Growth is expected in food for export, especially. Between January and October, agricultural exports reached US$9.36 billion, an increase of 23.3% compared to 2023.

The leading products for 2025 will be blueberries and avocados, with estimated exports of US$1,886 million and US$1,382 million, respectively. These amounts represent increases of 15% and 12%, respectively, compared to the current year.

The process of normalization of monetary policy rates locally and globally, and the improvement in business confidence generate a favorable scenario for investments in Peru. However, the proximity of the 2026 presidential elections could influence long-term investment decisions..

Armando Herrera

General Manager Fynsa Peru