Peru: The Latin American hub of Middle East investment?

Peru is looking to Middle East investors as it gears up for upcoming auctions for a $6 billion second line of the Lima subway, a $4 billion gas pipeline, and a $500 million international airport in Cusco.

Enrique Castro-Mendivil /Reuters
Women sell fruit and boiled eggs as people wait to board buses at Abancay Avenue in downtown Lima March 10, 2014.

Peru is reaching out to Middle East investors as the country gears up for some $15 billion in infrastructure concessions this year, says our correspondent in Lima.

Peruvian President Ollanta Humala and his finance minister recently completed a nine-day swing through the Middle East from Feb. 14-22, visiting Israel, the Palestinian Territories, and Qatar to sign agreements on trade and promote investment opportunities. Upcoming auctions in Peru include the $6 billion second line of the Lima subway at the end of March, a $4 billion gas pipeline in June, and a $500 million international airport in Cusco sometime this year.

“Peru has said it wants to become the hub of Middle East investment in Latin America,” says our correspondent. “Peru is looking for companies to invest in oil, gas, electricity, and the Middle East has money.”

President Humala has already shown a desire to reach out to the region, having hosted the 2012 Summit of South American and Arab Countries that brought together political and business leaders. And in early February, Israel was granted observer status to the Pacific Alliance, a trade bloc of Peru, Chile, Colombia, and Mexico.

“Taking a step back, Peru will most likely start free-trade agreements with Israel this year,” adds our correspondent.

Israeli companies have already shown willingness to invest in Peruvian ... For the rest of the story, continue reading at our new business publication Monitor Global Outlook.

You've read  of  free articles. Subscribe to continue.

Dear Reader,

About a year ago, I happened upon this statement about the Monitor in the Harvard Business Review – under the charming heading of “do things that don’t interest you”:

“Many things that end up” being meaningful, writes social scientist Joseph Grenny, “have come from conference workshops, articles, or online videos that began as a chore and ended with an insight. My work in Kenya, for example, was heavily influenced by a Christian Science Monitor article I had forced myself to read 10 years earlier. Sometimes, we call things ‘boring’ simply because they lie outside the box we are currently in.”

If you were to come up with a punchline to a joke about the Monitor, that would probably be it. We’re seen as being global, fair, insightful, and perhaps a bit too earnest. We’re the bran muffin of journalism.

But you know what? We change lives. And I’m going to argue that we change lives precisely because we force open that too-small box that most human beings think they live in.

The Monitor is a peculiar little publication that’s hard for the world to figure out. We’re run by a church, but we’re not only for church members and we’re not about converting people. We’re known as being fair even as the world becomes as polarized as at any time since the newspaper’s founding in 1908.

We have a mission beyond circulation, we want to bridge divides. We’re about kicking down the door of thought everywhere and saying, “You are bigger and more capable than you realize. And we can prove it.”

If you’re looking for bran muffin journalism, you can subscribe to the Monitor for $15. You’ll get the Monitor Weekly magazine, the Monitor Daily email, and unlimited access to CSMonitor.com.