Peru attracts $ 3.4 bn in FDI in first half 2010

Oct 31, 2010 12:00 AM

Peru attracted $ 3.4 bn in foreign direct investment (FDI) in the first half of 2010r, according to the Economic Commission for Latin America and the Caribbean (ECLAC). Figures show that Peru attracted $ 1.8 bn in foreign direct investment in the first quarter and 1.6 bn in the second quarter. Foreign direct investment (FDI) in Latin America and the Caribbean recovered significantly in 2010 with regard to the drop in 2009 as a result of the global financial crisis. According to new data released by ECLAC, FDI to 11 of the region's economies grew 16.4% during the first semester of 2010 in comparison to the same period last year. This increase totaled over $ 7 bn, rising from $ 43.2 bn in 2009 to $ 50.3 bn this year. Latin American and Caribbean investment abroad grew strongly, jumping from $ 5.5 bn in the first semester of 2009 to $ 20.8 bn in the same period this year.

Based on these results, ECLAC estimates that FDI will rise moderately in 2010, but will fall short of the record levels seen in 2007 and 2008. The increase in FDI is due in the first place to the economic stability and growth in most countries of the region. In South America, the high prices of prime materials have continued to encourage FDI flows to mining and hydrocarbons. Added to this are the recovery of world trade and the improved outlook for international financial markets.

FDI flows to Mexico in 2010 showed signs of a significant recovery, as in Chile and Peru. In Central America, FDI to the two main FDI recipients in the subregion -Costa Rica and Panama- also grew with regard to 2009. During the first semester of 2010, Brazil continued to be the region's prime FDI recipient, with flows reaching $ 17.1 bn This is largely explained by the strong interest in investing in traditional activities and emerging sectors (oil prospecting and ethanol production), as well as loan payments from Brazilian subsidiaries of multinational corporations to company headquarters.

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