ProInversión, the Peruvian Investment Authority, held an investment seminar in Seoul May 16 to promote investment opportunities in one of the most open and dynamics countries of Latin America, Peru.
The delegation, formed by Cesar Martin Peñaranda, director of Investor Services at ProInversión, and Gustavo Ibarguen, ProInversión´s Portfolio director, held several meetings at Gran Hayatt Seoul with Korean investors presenting current investment opportunities in Peru across sectors including Natural Gas projects, infrastructure, water and healthcare.
"Korea is one of the priority markets for ProInversion International promotional campaign, and this visit represented once again the interest of the Peruvian government in working closely with Korean investors to further develop its economic relations with the Asian country," Peñaranda said.
He concluded, “We visited Seoul only a few months ago and we came back this week to follow up on our previous visit and also to make new announcements in terms of investments projects currently available in our country. We had meetings with Korean conglomerates and financial institutions and we held a Conference opened by the Peruvian Ambassador to Republic of Korea, Daúl Matute Mejía, addressing the local business community on investment opportunities as well as incentives that Peru offers to Korean companies interested in doing businesses in the country. The trip was a success, local companies showed great interest in Peru and we are deeply grateful to the Embassy of Peru in Seoul for giving us an enormous support in the organization of this Road Show.”
Peru and Korea hold a free trade agreement and both countries are members of the Asia-Pacific Economic Cooperation, putting Peru and Korea in an ideal scenario to further strengthening the commercial relations between these two nations strategically located on both sides of the Pacific.
In the opening ceremony, Song Young-Wan, vice chairman of International Contractors Association of Korea (ICAK), made a congratulatory speech along with other key figures.
In his speech Song emphasized the importance of the close cooperation between Peru and Korea in the construction field.
"Our role for the Seoul Road Show is to promote the private investment particularly PPP (public private partnership) projects," said Director Penaranda.
Asked about why South Korea is important to Peru, the director said that as the same APEC (Asia-Pacific Economic Cooperation) countries South Korea's advanced technology is to improve Peru's infrastructure including water supply, sanitation, and energy.
"We are like brothers who need very close cooperations," said the director. "We are very open economy and the benefits of the potential Korean investors are very attractive."
He also said that South Korean construction companies are also important to help develop the booming construction business in Peru.
After gaining his BA degree in economics from the University of Lima, César Peñaranda earned his MA degree in economics from New York University (NYU). He also studied finance, economics, and mathematics at Harvard University as a Fulbright scholar.