peru macroeconomic and investment overview · 2016. 9. 12. · manufacturing, agriculture and...

PERU MACROECONOMIC AND

INVESTMENT OVERVIEW

Representative Office in Peru

The Bank of Tokyo – Mitsubishi UFJ, Ltd

September 2016

1. Peru in Latin America

2. Macroeconomic Overview

4. Extra Chapter

3. Friendly Investment Environment

2

PERU IN LATIN AMERICA

Location of Peru

Source: Mapas del mundo 4

5

Main LATAM Countries' Data

Source: JETRO, IMF (World Economic Outlook, April 2016), MEF, ProInversion, United Nations Population Division, World Bank

Main LATAM Countries’ Data Asia Countries as reference

Basic Data Peru Brazil Mexico Colombia Argentina Venezuela Chile Panama Thailand Philippine

Land Area

1.29

million

km²

8.51

million

km²

1.97

million

km²

1.14

million

km²

2.78

million

km²

910

thousand

km²

760

thousand

km²

70

thousand

km²

510

thousand

km²

300

thousand

km²

Population (2015)31.774

million

209.567

million

127.632

million

48.654

million

43.847

million

31.518

million

18.131

million

3.990

million

68.146

million

102.250

million

Economy

Nominal GDP (2015)192.1

billion

1,772.5

billion

1,114.3

billion

332.3

billion

585.6

billion

169.6

billion

240.2

billion

47.4

billion

386.2

billion

308

billion

Nominal GDP Per

Capita (2015) USD6,021 8,802 9,592 5,687 13,428 7,744 13,331 13,012 5,426 2,858

Real GDP Growth Rate

2010 8.5% 7.6% 5.1% 4.0% 9.5% -1.5% 5.8% 5.9% 7.8% 7.6%

2011 6.5% 3.9% 4.0% 6.6% 8.4% 4.2% 5.8% 10.8% 0.1% 3.7%

2012 6.0% 1.8% 4.0% 4.0% 0.8% 5.6% 5.5% 10.2% 6.5% 3.8%

2013 5.8% 2.9% 1.4% 4.9% 4.1% 1.3% 4.2% 8.4% 2.9% 7.2%

2014 2.4% 0.1% 2.1% 4.6% 0.5% -4.0% 1.9% 6.2% 0.7% 6.1%

2015 3.3% -3.8% 2.5% 3.0% 1.2% -5.7% 2.1% 5.7% 2.4% 5.8%

2016

(estimation)3.7% -3.8% 2.6% 2.5% -1.0% -8.0% 1.5% 6.1% 2.9% 6.0%

Sovereign Rates（S&P）As of June 2016

BBB+

(Positive)

BB

(Negative)

BBB+

(Negative)

BBB

(Negative)

B-

(Stable)

CCC

(Negative)

AA-

(Stable)

BBB

(Stable)

BBB+

(Stable)

BBB

(Stable)

Japanese Companies

(2015）55 705 957 80 51 72 93 45 1,707 1,521

6

Total areaApprox. 1.29 million km²

(about 3.4 times the size of Japan)

Total population Approx. 31.774 million (2015)

Capital Lima (population: 9.83 million / 2015)

Form of government Constitutional Republic

PresidentPresident Pedro Pablo Kuczynski

(July 28, 2016 – July 28, 2021)

Parliamentary Unicameral 130 seats

Principal industries

Manufacturing, Agriculture and Farming, Oil, Mining

Silver (Production: World No.2), Copper(No.2),

Tin (No.3) , Zinc(No.3), lead(No.4), Gold (No.6)

Language Spanish, Quechua, Aymara

People Indigenous 45%, Mixed 37%, European 15%, Others 3%

Religion Mainly Catholic

Nominal GDP USD192.1 billion (2015 World Bank)

GDP per capita USD6,021 (2015 World Bank)

GDP (%) 3.3% (2015 IMF)

Inflation (annual rate) 4.4% (as of December 2015 BCRP)

Unemployment rate 6% (World Bank, 2015)

FX rate USD 1 = PEN 3.30 (BCRP, August 2016)

Foreign debt USD 68.2 billion (BCRP 2015)

Foreign reserve USD 61.4 billion (BCRP 2015)

Total amount of trade

1) Export: USD 33.2 billion

2) Import: USD 30.0 billion

(BCRP 2015)

Principal trade items

1) Export: copper, gold, lead, crude oil, fish meal

2) Import: crude oil, petroleum, automobile,

mobile phone, wheat

(2015 SUNAT)

Major trading

countries

1) Export: China, USA, Korea, SWZ, Japan

2) Import: USA, China, EU, Mercosur

(2015 SUNAT)

Peru country rating“”BBB+” (S&P) “A3” (Moody’s) “BBB+” (Fitch)

(August 2016)

Peru Overview

MACROECONOMIC OVERVIEW

Nominal GDP 2003 – 2016*(US$ Billion)

8

Source: World Bank, IMF, ProInversion

*Estimate

59.066.6

74.9

87.8

102.1

121.5 121.1

148.5

170.5

192.6202.3 202.9

192.1

*179

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Macroeconomic

Peruvian Economy grew rapidly in the last decade.

The average growth rate of the latest 12 years (2004 – 2016*) is 5.8%

9

（％）

Source : World Bank

*Estimate: BCRP

3.1

7.2

-0.6

-11.8

5.2

2.8

10.0

8.0

-8.7

-11.7

-5.1

2.2

-0.4

4.8

12.8

8.6

2.5

6.9

-0.7

0.9

3.0

0.2

5.0 5.2 5.0

6.3

7.5

8.59.1

1.0

8.5

6.56.0 5.8

2.4

3.33.7

4.5 4.6

Macroeconomic

GDP by Industries 2015

10

Agriculture (including forestry /

fishery), 5.6%

Mining / Natural Gas, 12.2%

Manufacturing, 13.4%

Construction, 6.2%

Electricity, Gas, Water, 1.8%

Trade, 11.2%Service, 12.5%

Others, 37.1%

Source : INEI, BCRP

Macroeconomic

Private Investment 2003-2017*

( %)Private Investment Amount 2004-2016* (US$ billion)

Source:BCRP, ProInversion

* Estimate: BCRP 11

9.210.7

13.2

17.1

23.621.3

28.5

32.7

39.342.1

43.8

38.4

34.1

6.3 5.7

12.5

18.5

22.223.9

-9.1

25.9

11.0

15.6

6.4

-2.2

-4.4

-1.0

4.0

Economic growth has been driven by an increase in private investment.

Macroeconomic

Private Investment 2003-2018* (% of GDP)

Total Investment - LATAM 2015(% of GDP)

Source: BCRP, ProInversion, IMF

*Estimate: BCRP (Inflation Report, June 2016) 12

13.8 14.315.0

16.8

19.0

17.1

19.920.6

22.5 22.621.6

20.019.1 19.0 19.02.9

3.13.2

3.5

4.2 5.5

5.7 4.8

5.4 5.75.4

4.95.2 5.3 5.4

Public Investment

Private Investment

24.926.0

22.221.5 21.0

Peru Colombia Chile Mexico Brasil

Peru has one of the highest investment rate in GDP

comparing among the LATAM countries with private and public investment rate in GDP.

Macroeconomic

Real domestic demand 2004–2017*(% )

Source: MEF, BCRP, ProInversion

* Estimate

Number of Shopping Centers across the country

29 32 3645 48

6068

73 77

2008 2009 2010 2011 2012 2013 2014 2015 *2016

（US$ Billion）

Source: ACCEP

*Estimate 13

2.7

4.2

11.412.1

13.6

-3.3

14.9

7.7 8.0

7.0

2.22.9

2.5

3.8

4.3

2.5

6.97.6

8.3

2008 2012 2014 2015 *2016

Shopping Center Annual Sales

Furthermore, Peru has a solid domestic demand.

Macroeconomic

Trade Balance 2003-2018* (US$ Million)

Source: BCRP, ProInversion

* Estimate: BCRP (Inflation Report, June 2016) 14

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 *2016 *2017 *2018

Export 12,809 17,368 23,830 28,094 31,019 26,962 35,565 46,268 46,228 41,829 39,533 34,236 34,834 37,859 39,970

Import 9,805 12,082 14,844 19,591 28,449 21,011 28,815 36,967 41,113 42,191 40,807 37,385 36,418 38,324 39,929

Trade Balance 3,004 5,286 8,986 8503 2,569 5,951 6,749 9,301 5,115 -362 -1,274 -3,150 -1,584 -465 41

(10,000)

-

10,000

20,000

30,000

40,000

50,000

Trade deficit reduced and started recovering its balance.

Macroeconomic

15

50% of exports are related to mining and manufacturing sectors.

Source : INEI, SUNAT

Mining and Manufacturing,

38.00%

Fishery Products,

7.80%

AgricultureProducts, 20.60%

Oil and Natural Gas,

7.70%

Clothing Products,

5.70%

Chemical Products,

6.50%

Metal Products,

3.70% Steel Products,

2.70%

Non-metal Products,

3.20%

Others, 4.10%

Peru Export Products (2015)

General Consumer Products,

25.9%

Raw Materials/

Semi Finished Products,

30.0%

Industrial Products/

Construction Products,

40.4%

Others, 0.1%

Peru Import Products（2015）

Macroeconomic

16

No dependence in export / import with one country.

China22.0%

USA15.0%

SWZ8.0%Canada

7.0%

Japan4.0%

Brazil3.0%

Spain3.0%

Chile3.0%

Korea3.0%

Others32.0%

Principal Trade Countries (2015) Export

China22.9%

USA20.3%

Brazil5.0%

Mexico4.6%

Colombia3.5%

Korea3.4%

Chile3.2%

Germany2.9%

Japan2.7%

Ecuador2.6%

India2.5%

Argentina2.2%

Others24.2%

Principal Trade Countries (2015) Imports

Source : SUNAT

Macroeconomic

2010

Ranking Country

1 USA

2 Japan

3 China

4 Germany

5 United kingdom

6 France

7 Italy

8 India

9 Brazil

10 Canada

44 Chile

46 Peru

2050

Ranking Country

1 China

2 USA

3 India

4 Japan

5 Germany

6 United kingdom

7 Brazil

8 Mexico

9 France

10 Canada

26 Peru

32 Chile

Source: HSBC

17

In 2050, Peru is expected to be ranked in the top 30 largest economies.

World Ranking, estimated size of the economy 2050

Macroeconomic

4.3

13.8

19.2

24.0

44.7

32.4

73.7

66.7

60.8 72.7

72.9

125.1

111.5

158.3

62.9

114.5

1,722.3

2,775.3

7,649.7

139.2

56.7

39.5

15.4

10.2

11.8

6.5

6.0 3.7 3.7

1.0

1.5

2.5 3.5

1.5

1.1

3.9

6.7

0.3

2.1

4.7

2.7

2.9

3.2

4.4 3.0 3.5

0.1

1.0

10.0

100.0

1,000.0

10,000.0

Source : BCRP 18

Inflation Rate

The inflation rate is already controlled after the hyper inflation in the 80s.

Macroeconomic

Inflation rate: 2002 – 2016*(%)

Source: BCRP, IMF, Proinvesion

*Estimation

CPI- Latin America 2004- 2015(Annual Average Variation %)

CPI – Latin America 2015(Annual Average Variation %)

-5

0

5

10

15

20

25

30

35

40

45

20

02

20

03

20

04

20

05

20

06

20

07

20

08

20

09

20

10

20

11

20

12

20

13

20

14

20

15

*2016

Argentina

Brasil

Chile

Colombia

Mexico

Peru

11.8

6.14.6 4.5 3.8 3.2

Argentina Brasil Mexico Colombia Chile Peru

19

6.84.4 4.4

2.1

10.7

16.8

Colombia Chile Peru Mexico Brasil Argentina

Peru has one of the most stable inflation rate in LATAM.

Macroeconomic

0.77

1.25

1.992.2

2.252.45

2.66

2.93

3.38 3.49 3.51

3.52

3.483.41

3.33.27

3.13

2.92

3.01

2.832.75

2.642.7

2.97

3.5

3.3

0

0.5

1

1.5

2

2.5

3

3.5

4

91 92 93 94 95 96 97 98 99 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 *16

Source: World Bank

*BCRP, as of August 2016 20

FX Rate

Peruvian Soles ‘PEN’ fluctuation is basically parallel with natural resource prices.

From the 80s to early 90s, Peru fell into a serious inflation consequently the government of the moment executed denomination twice.

The first one was on 1985, during Garcia Government, changing the Sol to a new currency called Intis which is one thousand of one from Sol.

The second denomination was on 1991 executed by Fujimori Government, changing the Intis to Nuevo Sol (PEN) which is a one million of one

denomination.

Macroeconomic

FX rate in LATAM 2003-2014(Index, Base year 2005 = 100)

JP Morgan EMBI+(Basic points)

Source: CEPAL, BCRP, ProInversion 21

Peru has maintained stable exchange rates and its country risk remains lower than the regional average.

Macroeconomic

-8.5

-2.1

-3.6

-3.1

-2.0-1.4

2.8

0.5

-0.4

-2.5-2.2 -2.2

-1.5 -1.8 -1.3

-0.9

1.91.8

2.1

-1.1

0.51.3

2.0

0.7

-0.1

-2.1

-1.0

0

5

10

15

20

25

30

35

40

45

50

-10

-8

-6

-4

-2

0

2

4

6

90 91 92 93 94 95 96 97 98 99 2000 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 *16

Fiscal Balance (GDP)

Public Debt (GDP)

（％）

Source : World Bank、IMF - World Economic Outlook Databases

*Estimate

（％）

22

Peru Fiscal Balance

Solid Financial Management

Macroeconomic

-

10,000

20,000

30,000

40,000

50,000

60,000

70,000

80,000

80

81

82

83

84

85

86

87

88

89

90

91

92

93

94

95

96

97

98

99

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

*2016

Foreign Reserves

Foreign Debt

Source: BCRP

*June 2016

Source : BCRP

* June 2016

23

Peru Foreign DebtInternational balance of payments continues to stabilize and there is an ample foreign reserves

Trend of Foreign Reserves and Foreign Debt

Foreign

Reserves

Proportion b/w

Foreign Reserves

and Foreign Debt

Foreign

Debt

(Total)

Public Private

2000 8,657 30.1% 28,812 23,875 4,937 24,884 86.4% 3,928 13.6%

2001 8,980 32.4% 27,705 22,449 5,256 24,692 89.1% 3,013 10.9%

2002 9,721 34.2% 28,409 23,914 4,495 25,820 90.9% 2,589 9.1%

2003 10,241 34.0% 30,152 25,858 4,294 27,628 91.6% 2,524 8.4%

2004 12,664 39.9% 31,723 27,723 4,009 28,960 91.3% 2,772 8.7%

2005 14,171 48.0% 29,508 25,936 3,572 26,297 89.1% 3,211 10.9%

2006 17,441 59.5% 29,294 25,355 3,939 26,282 89.7% 3,012 10.3%

2007 27,785 86.2% 32,239 25,332 6,907 26,905 83.5% 5,334 16.5%

2008 31,241 90.0% 34,719 24,975 9,744 29,299 84.4% 5,420 15.6%

2009 33,225 88.9% 37,389 26,528 10,861 32,605 87.2% 4,784 12.8%

2010 44,214 104.9% 42,153 27,341 14,812 35,761 84.8% 6,392 15.2%

2011 48,913 108.7% 45,012 27,404 17,608 38,687 85.9% 6,325 14.1%

2012 64,155 118.5% 54,148 29,434 24,714 45,616 84.2% 8,532 15.8%

2013 65,766 116.0% 56,661 30,040 26,621 49,626 80.6% 9,335 16.5%

2014 62,308 96.6% 64,512 23,890 33,644 57,534 89.2% 6,978 10.9%

2015 61,529 90.2% 68,244 34,388 34,388 61,129 89.6% 7,075 10.4%

*2016 61,485 87.6% 70,153 28,518 34,180 62,698 89.4% 7,455 10.6%

Middle/ LongTerm Short Term

(US$ Million)

(US$ Million)

Macroeconomic

Country S&P Fitch Moody’s

Chile AA- (Stable) A+ (Stable) Aa3 (Stable)

Peru BBB+ (Positive) BBB+ (Stable) A3 (Stable)

Mexico BBB+ (Negative) BBB+ (Stable) A3 (Negative)

Brazil BB (Negative) BB (Negative) Ba2 (Negative)

Colombia BBB (Negative) BBB (Stable) Baa2 (Stable)

Bolivia BB (Stable) BB (Stable) Ba3 (Negative)

Ecuador B (Stable) B (Stable) B3 (Stable)

Venezuela CCC (Negative) CCC (N/A) Caa3 (N)

Argentina B- (Stable) B (Stable) B3 (Stable)

As of August 2016

24

Source: Ministry of Economic and Finance、Trading Economics

Investment RatingPeru is a suitable country for investment because of the healthy economy and the financial measures facilities.

Comparing principal LATAM Countries

Macroeconomic

Friendly Investment Environment

26


Peru offers a favorable legal framework for foreign investment:

No discriminatory treatment: Foreign investors receive the same treatment as local

investors.

Unrestrictive access to most economic sectors*.

Free transfer of capital.

Free competition.

Guarantee for private property.

Freedom to purchase stocks from locals.

Freedom to access internal and external credit.

No royalty restrictions on the remittance of funds.

Access to internal disputes settlement mechanism.

Peru participates in the Investment Committee of the Organization for Economic

Cooperation and Development (OECD) – which promotes the implementation of the

Guidelines for Multinational Enterprises.

* Investments that require authorization: Located within 50km in the frontier line and those destined to arms, ammunitions and

explosive. Likewise, a principal local partner for investments in maritime as well as in air transport required.

Source: ProInversion

Tax Applicable Rate

Income

Corporate profits

28.0% (2015-2016)

27.0% (2017-2018)

26.0% (2019 henceforth)

Agriculture and Agribusiness 15%

Dividends

6.8% (2015-2016)

8.0% (2017-2018)

9.3% (After 2019)

Royalty 30.0%

Withholding Tax4.99%*

(Intercompany Loan 30%）

Value Added Tax (VAT) 18.0%

Financial Transactions Tax 0.005%

27Source; ProInversion


A Steady Tax Regime:

* Please confirm with your accountant the condition details in case you apply to pay Withholding Tax.

116

157

92

121

156

137

58

117

48

50

186

Argentina

Uruguay

Bolivia

Brasil

Surinam

GuyanaVenezuela

Colombia

Perú

Chile

Ecuador

.

100

Paraguay

28

2015-2016 Country

1 Switzerland

2 Singapore

3 United States

4 Germany

5 Nethelands

6 Japan

7 Hong Kong

8 Finland

9 Sweden

10 United Kingdom

11 Norway

12 Denmark

13 Canada

14 Qatar

15 Taiwan China

16 New Zealand

17 Unityed Arab Emirates

18 Malaysia

Country

19 Belgium

20 Luzemburg

21 Australia

22 France

23 Austria

24 Ireland

25 Saudi Arabia

26 Korea

27 Israel

28 China

35 Chile

57 Mexico

61 Colombia

69 Peru

75 Brazil

106 Argentina

132 Venezuela

Continuous effort to facilitate the establishment and operation of business.

Peru became on the 50th place on Doing

Business Ranking 2015 by World Bank

Global Competitive Ranking 2015 (140 countries)

WEF – World Economic Forum

The over-all judgement is based on inflation, management of the

macroeconomic, technical level, education standard, etc.Sources: World Bank, WEF, ProInversion


MERCADO COMUN DEL SUR

Source: MOFA, Pacific Alliance, Mercado Comun del Sur, World Bank Doing Business, IMF 29

Comparison between Pacific Alliance and Mercosur

Pacific Alliance (ALLIANCE DEL PACIFICO)

Easy of Doing business 2015, World Bank

Pacific Alliance Mercosur

Inflation Rate （Average）

Economic Magnitude in LATAM


Establishment On June 2012, the Framework Agreement was signed.

The members are 4 countries that have the most open economy structure.

All the affilliated countries are already signed the EPA or are in negotiation process.

Member Countries Peru, Colombia, Mexico, Chile

Observer Countries42 countries including Japan. Costa Rica and Panama are an observe countries base

on the premise of affiliation. (2015)

ObjectiveThe Promotion of economic integration, free trade of service and capital, free move

of people among the members.

Result92% of trade products are already under agreement regarding tariff elimination and

mutual assistance of consular affairs.

Overview/ Characteristic

Colombia 54 Uruguay 92

Peru 50 Paraguay 100

Mexico 38 Brazil 116

Chile 48 Argentina 121

Venezuela 186

Economic

Magnitude

Trade (Total)

Pacific

Alliance

35% 46%

Mercosur 57% 50%

Affiliated

Country

Population 2015

(million)

Nominal GDP

(US$ Billion)S&P EPA w/ Japan

Mexico 127 1,114.3 BBB+ (N) Issued

Colombia 48 332.3 BBB (S) On negotiation

Peru 31 192.1 BBB+ (S) Issued

Chile 18 240.2 AA- (S) Issued

Total 225 1,879

Affiliated

Country

Population

(million)

Nominal GDP

(US$ billion)S&P EPA w/ Japan

Brazil 207 1,772.5 BB- (S) No

Argentine 43 585.6 B- (S) No

Venezuela 31 169.6 CCC No

Paraguay 7 28.0 BB No

Uruguay 3 53.7 BBB- (S) No

Total 291 2,609

w/o Brazil 84 837

Pacific Alliance 4.42%

Mercosur Affiliate Countries 32.16%

LATAM 5.53%

World 2.77%

Australia China 1

Korea 1

Malaysia Singapore 1

Thailand Japan Brunel New Zealand Vietnam Argentina

Bolivia Chile 1

Colombia Ecuador Paraguay Venezuela

Cuba El Salvador Costa Rica 1

Panama 1

European Union 2

European Association of free Trade (Iceland, Liechtenstein, Switzerland and Norway) 1

Canada 1

United States1

Mexico 1

(1) Trade agreements

(2) Trade Agreement. Besides , Peru has Investment bilateral agreements with Germany, Belgium, Luxemburg, Denmark, Spain, Finland, France,

Holland, Italy, Portugal, United Kingdom, Check Republic, Sweden and Switzerland.

30


Investment AgreementsPeru has signed and currently has in force Agreements for the Promotion and Reciprocal Protection of Investment

and Trade Agreements of further scope that includes investment chapters that underpin our liberalization policy.

It has also signed 8 agreements to avoid double taxation with Andean Community, Brazil, Chile Canada, Korea, Mexico,

Portugal and Switzerland Source: ProInversion

EXTRA CHAPTER

PERU Potential• Rich in Mineral and Energy Resources

---silver, copper, zinc, lead, tin, gold, natural gas

• Expansion of the consumer market--- expansion of the middle economy class / increase the access to finance

PERU Emerging

• High economic growth and solid financial management--- From 2002 to 2013, recorded 12 years consecutive of continuous high

growth.

--- According to a leading credit rating agency, the Peruvian sovereign rating

has a suitable level for investment.

PERU Recovery

• Recovery from terrorism and default after Fujimori

Government--- Security recovery goes 10 years before Colombia

• Solving problem of the external debt---Since 1997, Peru is maintaining a stable environment after the re-start of

funding from international market

PERU Unbounded

• Active promotion of FTA/ EPA

• Participation to TPP (Trans- Pacific Partnership)

• On June 2012, along with Mexico, Colombia and Chile

signed the framework agreement of the Pacific Alliance

32

Peru’s Characteristics and Attractions(by English Initials)

JAPANESE COMPANIES IN PERU

Sector Parent Company Subsidiary Branch Office InvestBussines

Activity

Trading

Mitsubishi Corporation

Mitsubishi Peru SA Trade

MC Inversiones Peru SACHolding

Company

MC Autos del Peru SA Automobile

Compañía Minera

Antamina SAMining

Anglo American

Quellaveco SAMining

Fosfatos del Pacifico SA Mining

Mitsui & Corp.

Mitsui del Peru SA Trade

Mitsui Automotriz SA Dealer

Mitsui Auto Finance Peru

SAFinance

Komatsu Mitsui

Maquinarias Peru SA

Construction

Machinery

PTS SA Tire

Compania Minera Miski

Mayo SACMining

Toyota del Peru SA Automobile

Marubeni

Lima Branch Trade

Zamine Service Peru SACConstruction

Machinery

Consorcio Agua Azul SA Water Service

Maquinarias SA Automobile

PERU LNG SA Gas

Toyota Tsusho Lima Office Trade

Sumitomo CorporationSumitomo Corporation del

Peru SATrade

Summit Agro South

America SPA, Peru BranchAgrochemical

(Cerro Verde SA) Mining

Itochu Lima Branch Trade

Sojitz

Lima Branch (Sojitz

America)Trade

Sojitz Arcus SACElectrical

Machinery

Maker

Toyota Toyota del Peru SA Automobile

Honda Motor Company Honda del Peru SA Automobile

Panasonic Panasonic Peruana SAElectrical

Machinery

Sony Sony Peru SRLElectrical

Machinery

Ajinomoto Ajinomoto del Peru SA Food

Mayekawa Mycom Peru SACRefrigeration

Compressor

Sector Parent Company Subsidiary Branch Office InvestBusiness

Activity

Maker

Makita Makita Peru SA Electric

Tools

BridgestoneBridgestone Off-The-Road Tire Peru

SACTire

Toshiba Toshiba del Peru SRLElectrical

Machinery

Yamaha Yamaha Motor del Peru SA Motorbike

Seiko Epson Epson Peru SAOffice

Supply

Brother Industries Brother International del Perú SACOffice

Supply

Juki Lima Branch (Juki America)Sewing

Machine

Yokogawa Electric Peru Branch (Yokogawa Brazil)Electrical

Machinery

Takeda Pharmaceutical Takeda SRL Medicine

Nipro Peru Branch (Nipro America)Medical

Appliance

NEC Peru Branch (NEC Colombia)Electrical

Machinery

Ricoh Ricoh del Peru SACOffice

Supply

Mining

Mitsui Mining & SmeltingLima Branch Mining

Compania Minera Santa Luisa SA Mining

Sumitomo Metal Mining Sumitomo Metal Mining Peru SA Mining

Cerro Verde SA Mining

Pan Pacific Copper

Pan Pacific Copper Exploration Peru

SACMining

Compania Minera Quechua SA Mining

Mitsubishi Material

MM Mineral Resources SAC Mining

Compania Minera

Zafranal SACMining

Other

K Line K Line Peru SAC Transportation

MOL MOL (Peru) SAC Transportation

Nakayama Shoten Nakayama del Peru SAC Textile

Watts Watts Peru SAC Goods

Taiyo A&F Sakana del Peru SA Fishery

SankyoIntegrated Global

Logistics SALogistic

Tokura Corporation Lima Office Construction

Nihon Koei Lima Branch (Nihon Koei Panama) Consultant

NJS Consultant Lima Office Consultant

MUFG Lima Rep Office Finance

SMBC Lima Rep Office Finance

MSIG Lima Office Finance

Bank of Tokyo – Mitsubishi UFJ

Mexico New York Subsidiary, Mexico Representative Office

Leon Office

Peru Representative Office in Peru, The Bank of Tokyo – Mitsubishi UFJ, Ltd

Av. Victor Andres Belaunde 214 Of.302

San Isidro, Lima PERU

Tel : 51-1-213-6900

E-mail: [email protected]

Colombia

Colombia Representative Office

Venezuela Caracas Representative Office

Chile Santiago Branch

Argentina Buenos Aires Branch

Brazil

Banco de Tokyo – Mitsubishi UFJ S.A. Sao Paulo Head Office

Rio de Janeiro Office

Mexico City

Caracas

Bogota

Lima

Santiago

São Paulo

Rio de Janeiro

Buenos Aires

35

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peru macroeconomic and investment overview · 2016. 9. 12. · manufacturing, agriculture and...

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