Peruvian FM calls for Korean investment to unlock vast opportunities

Peruvian Minister of Foreign Affairs Javier Gonzalez-Olaechea gives a presentation on the vast investment opportunities in the South American nation during an investment seminar in Seoul, Tuesday. Korea Times photo by Kim Hyun-bin

Peruvian Minister of Foreign Affairs Javier Gonzalez-Olaechea invited Korean investors to explore the wealth of opportunities awaiting them in the South American nation during an investment seminar hosted by the Embassy of Peru in Seoul, Tuesday.

With an emphasis on Peru's stable economic landscape, strategic positioning and transparent investment policies, the minister aimed to entice Korean businesses to consider Peru as a prime destination for investment and expansion.

In his address to a distinguished audience of diplomats, business leaders and potential investors at a hotel in Seoul, Gonzalez-Olaechea emphasized Peru's economic stability as a cornerstone for attracting foreign investment.

"We need development; Peru needs investors. We need true investors who respect our environment, our laws and our partners, who will be with us in our present and future endeavors. All investors are welcome. We welcome those who comply with the law and who will utilize funds wisely. This is Peru, a place where business opportunities are readily available," he said.

"We are facing deficits, which represent opportunities, but these are not deficits for Koreans; they are opportunities. Peru offers a conducive atmosphere for foreign investment, with economic stability and a robust regulatory framework."

The minister emphasized Peru’s advantageous geographic location, situated in the heart of Latin America's coastal area, which presents itself as an “ideal launchpad for Korean investors seeking to expand their presence across the continent."

The minister assured potential investors of Peru's commitment to fair and equitable treatment, highlighting the nation's commitment to transparency and non-discrimination, underscoring Peru's dedication to fostering a level playing field for all investors.

"We require foreigners to abide by our laws, ensuring that all investors, regardless of nationality, receive equal treatment,” he said.

"Peru's fiscal situation is sound, with a well-functioning central bank ensuring macroeconomic stability."

Turning his attention to infrastructure opportunities, Gonzalez-Olaechea emphasized Peru's pressing need for investment in key sectors, including transportation.

"We lack highways and railways, presenting significant opportunities for Korean investors to contribute to the development of Peru's infrastructure," he said, urging Korean businesses to seize the moment and capitalize on the nation's infrastructure deficit as a way to mutually benefit.

Drawing inspiration from the successes of other nations, Gonzalez-Olaechea underscored Peru's dedication to growth and development.

"We can learn from other countries. Some countries were once worse off than Peru, but through great sacrifices and hard work, they achieved significant growth. This is what we have accomplished, unlike 60 or 70 years ago. You (Korea) have modern technology and are capable of solving everything wisely."

The minister also pointed out Peru's burgeoning youth population emphasizing that 50 percent of voters are youths under 30, highlighting the young labor force and potential consumers.