Peruvian Economist Jorge González Izquierdo told Peruvian
news outlet RPP
that he does not expect the Peruvian mining sector to recover in 2015. He said
that the 1 to 1.5 percent GDP growth that the Peruvian Economy and Finance
Ministry is expecting from the mining sector for 2015 likely will not happen.
Izquierdo explained that this disappointing news is because various problems
regarding the large mining projects in Peru still have not been resolved, such
as cutting the mountains of bureaucratic hurdles required for the projects to
move forward.
Diario
Correo published an interview with hydrocarbons lawyer Germán Barrios
discussing the effect that lower oil prices will have on foreign investment in
Peru. Barrios, a lawyer with Barrios & Fuentes, explained that the lower
prices will principally affect oil exploration. Lower prices mean that the oil
companies have less money to spend on exploration, and seeing as how Peru was
already an unattractive exploration prospect, oil companies will likely go
elsewhere. Barrios recommended that, in order to combat these pressures, the
Peruvian government change the regulatory environment in Peru to encourage oil
exploration and thus be more competitive in attract foreign investment for the
oil industry.
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