As we move into 2024, we identify greater opportunities for the development of private investment and for Peruvian companies.

On the one hand, the international market is experiencing an unprecedented abundance of liquidity. Evidence of this is the levels of private debt issuance, which with volumes exceeding US$150 billion, have had the strongest start to January in the last 30 years. The logic is known: with the expectation that interest rates will fall, investors look for better returns and find, in return, corporations and sovereign issuers that have delayed their issuances in recent quarters, waiting for this opportunity.

This international context finds in Peru a country that compares very favorably with its regional peers, thanks to its macroeconomic strength, institutional stability and respect for the legal framework. We have identified efforts to encourage investment, both at the public and private levels, mainly in mining, infrastructure, technology and renewable energy, which are evidence of growth potential.

There is no doubt that 2024 can represent an important turning point in confidence and risk appetite data for Peruvian entrepreneurs. The opportunities generated by projects such as the construction of the Chancay Megaport and the expansion of the Jorge Chávez International Airport, which increase the attractiveness of Peru as a gateway for international trade to South America, require the development of an ecosystem around the productive chains involved. We also highlight the strategic importance of APEC 2024, which will be held in the country, presenting itself as a platform to attract the attention of the international community, fostering strategic alliances and providing opportunities for new businesses.

Even so, we must be cautious about possible volatility introduced by political events. This 2024 will have the most intense electoral agenda in the last 20 years. In addition to the elections in the United States, 15 other emerging countries will carry out their electoral processes, generating potential risks that must be monitored. A new year always generates expectations that, added to the international context, allow us to envision great opportunities as a country and society. Let us join efforts to strengthen our competitiveness and contribute to the sustainable growth of Peru.

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