Peru Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in Peru, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals.
Investment Climate Statement
Last published date:

The U.S. Department of State’s Investment Climate Statements help U.S. companies make informed business decisions by providing up-to-date information on the investment climates of more than 170 countries and economies. They are prepared by our embassies and consulates around the world and analyze each economy’s openness to foreign investment. Topics include:

•    Openness to, and Restrictions upon, Foreign Investment, 
•    Investment and Taxation Treaties,
•    Legal Regime,
•    Industrial Policies,
•    Protection of Property Rights,
•    Financial Sector,
•    State-owned Enterprises,
•    Corruption,
•    Labor Policies and Practices,
•    Political and Security Environment, and
•    U.S. International Development Finance Corporation (DFC) and Other Investment Insurance or Development Finance Programs

Each statement provides a starting point for U.S. firms and offers a point of contact at the relevant U.S. embassy or consulate abroad.

These reports are also a resource for foreign governments to create business environments that ensure fair treatment for the United States and our companies and investors. 

To access the full Investment Climate Statement, visit the U.S. Department of State Investment Climate Statements website.

 

Executive Summary - Peru

Peru’s ongoing focus on addressing key infrastructure gaps, modernizing its healthcare sector, and leveraging robust mining and trade activity continues to shape the nation’s economic landscape. In 2019, Peru launched its first National Infrastructure Plan for Competitiveness (PNIC) to address a $110 billion infrastructure deficit by 2038, prioritizing projects in transportation, sanitation, healthcare, water, and telecommunications, with 52 major initiatives valued at $28.5 billion targeted for completion by 2025. The plan introduced a strategic methodology for closing critical infrastructure gaps and called for public-private partnerships, the Works for Taxes (OxI) program, and government-to-government agreements to attract investment and improve project delivery. 

Persistent challenges, including execution risks and resource concentration in large metropolitan areas, limited progress despite the government’s ambitious targets and marketing efforts by ProInversión. In 2022, Peru released the National Sustainable Infrastructure Plan for Competitiveness (PNISC) 2022–2025, expanding to 72 priority projects worth nearly $39 billion and adding stronger social and sustainability standards alongside new focus areas like education and health. The revised plan still relies on mixed investment mechanisms, and in 2024 the Works for Taxes program set a new record by awarding over $1 billion in projects.

Political turbulence remains a core challenge to Peru’s investment climate. Since 2020, frequent cabinet reshuffles, regulatory complexity, and land-access and social conflict—especially in the mining sector—have moderated investor confidence despite Peru’s history of sound fiscal policy. Mining remains a major economic driver, accounting for roughly 10 percent of GDP and attracting nearly $5 billion in annual investment, even amid environmental and community tensions. Major projects in copper, gold, and other minerals are balanced against community engagement and environmental scrutiny. 

Healthcare modernization is gradually progressing, with varied investment opportunities in hospital infrastructure, telehealth, and specialized medical equipment. While government spending slowed after pandemic-related surges, the growing middle-aged and elderly population, coupled with rising private demand, are stimulating the sector. However, the system remains under-resourced and fragmented, especially in rural areas.

Telecommunications and digital commerce are rising rapidly. Telecom sector growth and e-commerce expansion—now accounting for $15.6 billion and 5.5 percent of GDP—reflect Peru’s deepening digitalization, yet rollout in rural areas lags. The government is working to overhaul regulatory frameworks and improve internet penetration, but progress is uneven.

Peru remains open to foreign investment, offering national treatment and robust legal protections for international firms under frameworks such as the U.S.-Peru Trade Promotion Agreement (PTPA). Tariffs on U.S. goods are minimal, though customs processes, tax collection, and regulatory hurdles remain notable obstacles. Intellectual property protection has improved but enforcement can be inconsistent.

Looking ahead, Peru’s robust project pipeline, strong integration into regional and global trade networks, and diverse business opportunities—in infrastructure, mining, medical, and digital sectors—are balanced by persistent political risk, regulatory complexity, and social tensions. Prospective investors are advised to engage local legal counsel and stay attuned to the evolving policy landscape to effectively manage risk and capitalize on Peru’s long-term growth potential.

View the U.S. Department of State’s Peru ICS.

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Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

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