United Arab Emirates interested in strengthening investments in Peru

In a meeting with Minister Salardi, Ambassador Ibrahim Alalawi stated that they expect to finalize agreements that will support the entry of more companies into Peru, and also expressed interest in projects such as tourism development in Callao Bay.

The government of the United Arab Emirates has the will to foster investments that add value to the Bay of Callao, as well as in the generation and distribution of electric power and the implementation of technology industries in Peru, assured its ambassador Ibrahim Alalawi, in a meeting with the Minister of Economy and Finance, José Salardi.

The meeting held at the MEF headquarters in Peru also served to assess the progress of agreements currently being negotiated by both countries. In this regard, Ambassador Alalawi indicated that they are interested in finalizing agreements with the Peruvian government that will create the legal framework to stimulate the execution of Emirati capital.

“I am sure of the Peruvian government's interest in the Arabian Gulf countries, just as much as we are interested in finalizing agreements we have on the table and paving the way for new investments,” he stated.

With this, the ambassador alluded to the agreement they have been reviewing with Peru to eliminate double taxation and tax evasion, as well as for the promotion and protection of investments between technical teams from the MEF and the United Arab Emirates.

For his part, the Minister of Economy and Finance, José Salardi, noted that one of the key drivers of this year’s economic growth—estimated at 4.1%—is precisely the strengthening of private-sector investment.

The head of the Ministry of Economy and Finance expressed his commitment to fostering conditions that will realize investments from more companies from the United Arab Emirates in Peru.

In this case, it recalled the contribution of the United Arab Emirates in the modernization of national ports, through the management of the DP World company in Callao and the interest mentioned by Ambassador Alalawi in promoting investments that enhance the value of the Bay of Callao, by activating the San Lorenzo Island project, as well as the generation and distribution of electric power and the implementation of technology industries in Peru.

To date, Peru has received investments totaling US$1.6 billion from the United Arab Emirates, and the volume of trade exceeded US$800 million in 2022, according to official figures.