Peru receives Germany’s $7,2 mn contribution for forestry program

The Ministry of Economy and Finance accepted a non-reimbursable financial contribution granted by the German Development Bank (KfW), worth up to the sum of €6 million ($7,2 million), to partially finance the Promotion and Sustainable Management of the Forest Production in Peru investment program. According to Ministerial Resolution No. 145-2021-EF/52, published in the official newspaper El Peruano, the contribution … Continue reading Peru receives Germany’s $7,2 mn contribution for forestry program

Camisea Consortium to invest $39 mn in NGV promotion

The Camisea Consortium will allocate a fund of approximately $39 million over the next three years to promote the use of natural gas for vehicles (NGV) in cars with engines dedicated to this fuel, in the segment of passenger and cargo transport in Lima and Callao. It is estimated that less than 3% of vehicles run on NGV and that the savings for carriers by migrating from diesel to NGV would be around 50%. The programme will incorporate more than 3,000 units.

Dominican Republic suspends imports from Colombia and Peru due to banana fungus

The Ministry of Agriculture from the Dominican Republic has adopted a series of preventive measures to protect local banana production from a fungus that affects countries in the region. This means it has suspended the importation of roots, tubers, rhizomes, or corms and planting material of Musaceae from countries affected by the Fusarium Foc TR4 fungus disease. Given the presence in Colombia and - recently - in Peru of the Fusarium TR4 fungus, phytosanitary surveillance in ports, airports, border posts and farms has been intensified.

Electric and hybrid vehicle sales up 41% in the first quarter

Sales of electric and hybrid vehicles grew 41% in the first quarter of this year, according to the Peruvian Automotive Association (AAP). According to Karsten Kunckel, president of the association, 206 cars were sold and this year they expect to exceed one thousand units. In 2020, 578 eco-friendly vehicles were sold, 58% more than in 2019 (366 units), which represents an upward trend in the national market.

Construction sector grew 14.3% in February

The important activity in self-construction, private and public projects, boosted the construction sector in Peru to grow by 14.3% in February, compared to February of last year. Peruvians' budgeting habits changed with the pandemic and led to more investments in improving and repairing their homes. That is also why the internal cement consumption grew by 16% in the same month.

Culture industry copyright contribution to Peru increased by 39% in 8 years

Industries related to Culture went from generating 13.4 billion soles ($3.57 bn) in 2010 to 18.6 billion soles ($4.97 bn) in 2018 thanks to copyright, according to Indecopi. This increase reinforces the importance of copyright in the protection and creation of Peruvian ideas' economic value. In addition, employment in the sector increased by 11% over the same period.

Oil companies paid $228 mn in royalties in Q1 2021

The payment of royalties by companies operating in the hydrocarbon sector in Peru amounted to $228 million at the end of 2021's first quarter, 66.8% more than the first quarter of 2020, reported the National Society of Mining, Oil, and Energy (SNMPE). The guild said that the evolution of royalties has been supported by an increase in international hydrocarbon prices. It added that the amount of royalties for oil production is still below pre-pandemic levels.

Close to 1.1 GW of renewables are underway in Peru, says Government

Peru is currently implementing 49 renewable energy projects with a combined capacity of 1,080 MW across the nation, the Peruvian ministry of energy and mines said. The projects are broken down as follows: 30 hydroelectric stations (373 MW), seven solar farms (280 MW), seven wind farms (394 MW) and five biomass-fired plants (33 MW). Peru is committed to reaching 15% renewables in the power mix by 2030.