EY, the multinational professional services firm formerly
known as Ernst & Young, revealed
that, after Lima and Callao, Arequipa is the third largest economy in Peru. EY
published its “Guide to Business and Investing in Peru,” in which explained
that the mining sector has been key to Arequipa’s economic dynamism,
contributing 24.4% of the region’s GDP in 2013.
The report adds that, paralleling the rise of Arequipa as an
economic force, investment has similarly increased from $1.1 billion in 2007 to
$5.1 billion in 2013, thanks to investments in large-scale mining, energy, and
hydrocarbon projects. Looking to the future, EY projects that Arequipa’s economy
will grow by approximately 5% in 2015 and again in 2016.
In mining-related news, regional government institutions in
Cajamarca have united
to combat illegal mining in the region. In recent days, three illegal miners
died in a mining accident, and General PNP Hugo Begazo, Regional Director for
the Ministry of Energy and Mines Victor Cusquisibán, and representatives of the
Public Ministry, the SUNAT, the SUNAFIL, and others, jointly announced that
they would crack down on illegal mining operations in the area.
According to General Begazo, miners in the area of the
accident, the province of Cajabamba, are not interested in formalization. He
cited work by the local police, who showed that the miners refuse to follow
Peruvian laws and regulations on mining activity. The officials expressed hope
that, now that all of the different governmental entities are working together,
they can jointly tackle the problem of illegal mining.
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