Colombia, as a strategic hub for data centers and artificial intelligence, is no longer a promise for the future but a present reality with already operating world-class infrastructure, international certifications, and a rapidly maturing digital economy. As demand for sovereign cloud services, high-availability data centers, and AI-ready infrastructure accelerates throughout Latin America, Colombia is fast becoming the region’s natural epicenter.

The latest milestone in Colombia’s ascent was achieved just this past December 2025 by global sovereign technology infrastructure provider, Ilkari. Ilkari recently became the first operator in Colombia to receive ICREA Level IV certification for its data center in the Tocancipá Free Trade Zone. This distinction puts Colombia on a short list of countries that can now support mission-critical workloads and artificial intelligence according to the highest global standards.

Colombia as a strategic hub for data centers and Artificial Intelligence: Why it matters

Colombia is rising as a strategic hub for data centers and artificial intelligence deployment for several reasons, including technology infrastructure readiness, stable regulatory frameworks, geographic advantages, and available talent. The ICREA Level IV certification proves that Colombia’s data center infrastructure offers sufficient capacity for continuous operations, extreme resilience, and sustained performance in adverse events.

These features make it particularly attractive for financial services, healthcare, and government platforms, as well as hyperscale cloud computing and critical AI workloads. As international enterprises look for new and trustworthy places to host sensitive digital workloads, Colombia is solidifying itself as a credible and competitive alternative to the most established data center markets.

ICREA Level IV: A milestone for Colombia’s data center and critical infrastructure

The International Computer Room Experts Association (ICREA) uses a set of stringent metrics to assess data centers, covering areas from advanced engineering to operational maturity and emergency preparedness. At its highest, Level IV, ICREA certification confirms full redundancy for four key areas: power, cooling, connectivity, and security. This highest level of certification confirms that a data center’s equipment is fully redundant, ensuring that a single failure will not result in downtime.

Colombia is the latest nation to achieve Level IV, with Ilkari’s facility in Tocancipá earning the highest ICREA Certification globally and paving the way for new use cases in Artificial Intelligence (AI). “Artificial intelligence is a workhorse of this new internet, and resilient infrastructure is a prerequisite for this technology to grow,” Ilkari CEO Shane Paterson said. “Countries that can’t give that promise of continuity will be left behind.”

Colombia as a strategic hub for data centers and AI: Infrastructure fit for the future

Ilkari’s facility in Tocancipá, Colombia, is particularly well-suited to consolidate the country as a strategic hub for data centers and AI. The data center hosts 308 active racks of IT equipment with expansion underway to reach 548. It offers a total installed power capacity of 3.6 MW, expandable to 7 MW. On the non-technical side, it features 800 square meters of technical space, with room to grow to 1,500 square meters as the company’s modular architecture allows.

Critical data center resources like energy and cooling are typically among the most intensive and expensive in AI deployments. Flexible architectures like the one Ilkari is building out in Colombia with its Tocancipá data center allow these data centers to scale to meet demand with unrivaled density.

Tocancipá: A geostrategically optimal position in Colombia

The Tocancipá Free Trade Zone further fortifies Colombia as a strategic hub for data centers and AI. Proximity to the central economic and connectivity hub of Bogotá, along with investment incentives, logistical efficiencies, and expedited import processes for specialized hardware and equipment, are all important characteristics that make this location a perfect fit to operate high-availability facilities.

Hosting data inside Colombian territory also benefits businesses around data sovereignty, regulatory compliance, cybersecurity, and low-latency operations. In the case of artificial intelligence and high-performance computing, this value-add is even more important.

Colombia as a strategic hub for data centers and AI: Infrastructure, talent, and skills

A key reason Colombia is a strategic hub for data centers and AI is the rare combination of world-class infrastructure and specialized talent. Infrastructure, as is the case with technology certifications like ICREA, is only half the story, with operational maturity and people being decisive elements.

Ilkari in Colombia currently has a team of 32 specialized professionals backed up by global teams and is operating its infrastructure with a multidisciplinary engineering staff that directly manages the data center, offering a higher degree of direct control and reliability over heavily outsourced operations. Colombia is also the location of Ilkari’s Global Technical Operations Center, or GTOC, from which infrastructure operations in other regions are monitored, acting as a regional knowledge center and accelerating the growth of local talent.

Colombia as a strategic hub for data centers and AI: The future is artificial intelligence

AI, in particular, is a foundational element in the evolution of Colombia as a strategic hub for data centers and AI. Artificial intelligence workloads, specifically those tied to machine learning and neural networks, are well-known for requiring high energy density, advanced cooling, and particularly GPU-based servers. Ilkari already has GPU servers installed and operating in its Colombian facility, enabling the development of AI workloads for local customers.

Future phases will expand the data center’s power capacity in alignment with technology development to continue increasing energy density. R&D and validation will also be supported by Ilkari’s innovation lab in Málaga, Spain, where new architectures are prototyped and developed for deployment to meet specific requirements of clients.

Colombia as a strategic hub for data centers: A growing sector

Colombia’s data center market dynamics are a key part of the story. This is a market that, according to market research, will grow from USD 81 million in 2024 to over USD 300 million in 2030, with compound annual growth of nearly 28% over this period. This growth will be led by accelerating cloud adoption, artificial intelligence development, and national digital transformation strategies.

Ilkari aims to grow along with the sector, playing a supporting role for not only end users but also for system integrators and other partners with whom the company can adapt its services to the requirements of an ever-changing market.

Colombia as a strategic hub for data centers: Beyond ICREA

Level IV is only the most recent of certifications acquired by Ilkari to reinforce its presence as a benchmark for Colombia and Latin America as a strategic hub for data centers and mission-critical workloads. In this regard, Ilkari has recently earned certifications like DCOS Maturity Level 4, TIA-942-C Rated 3, and SS 564 Green Data Centre as part of its commitment to world-class, sustainable, and efficient infrastructure.

Colombia is a digital export hub for Latin America

Colombia is a strategic hub for data centers, critical infrastructure, and Artificial Intelligence, which are key trends in this industry. With world-class and sovereign technology infrastructure, skilled talent, and a rapidly accelerating investment cycle, Colombia as a strategic hub for data centers and artificial intelligence is no longer a slogan for the future but a present and growing reality that Colombia is fast defining as part of its own economic narrative.

Brazilian Foreign Direct Investment Hits BRL 84.1 Billion in January–November 2025, Best in 11 Years

Brazil attracted BRL 84.1 billion in foreign direct investment (FDI) between January and November 2025, the best result in more than a decade. As per data published on Friday by the Ministry of Industry and Foreign Trade, the capital inflows of this year put the country on track to end 2025 with a new record if December follows the trend.

The Brazilian government stated that this result marks a new cycle of foreign investor confidence and places the country among the most favored destinations for productive capital in emerging markets. After several years of low inflows, the recovery of foreign direct investment in Brazil is a vote of confidence in the country’s macroeconomic outlook and institutional framework.

Record Performance in 11 Years

In 2025, Brazil already records the largest volume of foreign direct investment in more than ten years, according to official data from the Ministry of Industry and Foreign Trade. The authorities also pointed out that, if the capital inflows of December match the data until then, Brazil can even overtake the all-time record set in 2011.

This fact reinforces Brazil’s relevance to global investment flows, especially in a period when multinational companies are reviewing their supply chains, diversifying their production locations, and looking for large domestic markets with long-term growth potential. The recovery of Brazilian foreign direct investment also mirrors global trends in nearshoring and diversification in the Americas.

Brazilian Foreign Direct Investment Grew to BRL 84.1 Billion in 11 Months

Brazil received BRL 84.1 billion – equivalent to approximately USD 15.2 billion – in foreign direct investment between January and November 2025. As per the official press release by the ministry, this would be the best annual result since 2014, when FDI flows ended a previous investment boom in the country.

The government also noted that, if the current level of capital inflows is maintained in December, Brazil would overtake the historical record of 2011 when FDI reached BRL 102.4 billion, or USD 18.5 billion at the time. This number was long used by policymakers as a reference mark, and approaching it again shows a significant recovery in sentiment.

Historical Comparison of Foreign Direct Investment in Brazil

For context, below is a brief historical comparison of foreign direct investment in Brazil over the last decade. In this time, the country has seen significant ups and downs in FDI, mainly driven by external and internal shocks that often present as recurring cycles.

• 2011: BRL 102.4 billion in FDI (all-time high)
• 2014: Last significant inflow before an extended downturn
• 2025 (Jan.–Nov. ): BRL 84.1 billion (provisional data)

The data above illustrates the size of the turnaround taking place in 2025, and how the current Brazilian foreign direct investment levels are close to matching those experienced during the boom years. The ongoing return of FDI is perceived as recognition of Brazil’s long-term fundamentals.

Government Comments on the Surge

Vice President and Minister of Industry and Trade, Geraldo Alckmin, said the data was “excellent news” for the Brazilian economy. He also noted that President Luiz Inácio Lula da Silva had previously announced that 2025 would be “the year of the harvest” after a series of reforms and policies implemented in prior years.

According to Alckmin, the growth in foreign investment is the result of a more business-friendly environment with more legal certainty, which has fostered renewed international confidence in Brazil’s economic policy. He further added that foreign capital was important not only for funding growth but also for bringing technology, improving productivity, and generating higher-quality employment.

Main Drivers of Investor Confidence in Brazil

The minister pointed to a few initiatives that have been particularly important for making Brazil more attractive to foreign investors. In this line, he highlighted the Nova Indústria Brasil program, which aims to modernize and upgrade the country’s industrial sector, focusing on innovation, sustainability, and higher-value-added production.

In this sense, an important change was the recently approved tax reform by the National Congress, which aims to simplify and streamline Brazil’s notoriously complex tax system while reducing distortions and increasing transparency. The reform is expected to increase predictability and lower compliance costs for companies. It addressed one of the foreign investors’ most long-standing concerns.

In short, government officials claim that these initiatives and a handful of others have eased regulatory uncertainty and given Brazil more institutional credibility as a stable and reliable market for long-term capital. In turn, this contributed to strengthening Brazilian foreign direct investment.

Sectors and Medium-Term Prospects

Brazilian foreign direct investment is distributed across a variety of sectors, including manufacturing, agribusiness, energy, infrastructure, logistics, and information technology. In this way, its large consumer market, natural resources, and renewed emphasis on renewable energy have made it particularly appealing for investors looking for both size and sustainability.

In terms of medium-term prospects, government officials anticipate further acceleration in 2026 in the wake of infrastructure concessions, public–private partnerships, and industrial development linked to global decarbonization. If the reform agenda progresses and macroeconomic stability is maintained, Brazil should continue to be one of the most favored destinations for FDI in Latin America.

In that perspective, the robust numbers for 2025 are not expected to be a one-off phenomenon but rather the basis for a new cycle of sustained international investment and economic modernization in Brazil.

Project Overview and Key Details

Location: San Salvador metropolitan area and San Óscar Arnulfo Romero International Airport, El Salvador

Development Name: AirCity

Developer: Aristos Inmobiliaria

Estimated Value: US$250 million

Area: 532,000 square meters

Infrastructure Highlights: Airport free trade zone in El Salvador, logistics park, aviation facilities, multimodal connectivity

Key Investors: Aristos Inmobiliaria (Grupo Aristos)

Status: Groundbreaking announced in December 2025; construction to begin in 2026, with initial phases operational in 2027

Investment Scope and Development Phases

AirCity will be located on an area of 532,000 square meters within El Salvador International Airport, San Óscar Arnulfo Romero. The investment in the airport free trade zone in El Salvador will total US$250 million, and the developer has proposed multiple phases to increase scalability and allow tenants to come online while future expansions are in process.

Government Support and Strategic Vision

Senior government officials and President Nayib Bukele attended the groundbreaking ceremony in the last days of December 2025. “AirCity is an example of the type of quality investment that will turn El Salvador into a regional logistics, commercial, and innovation hub,” Escobar, the CEO of Aristos Inmobiliaria, said in a press release.

Free Trade Zone Framework and Investor Incentives

“This development is a real-time example of the confidence that we have in the future of the Salvadoran economy and its potential to generate the highest quality employment for our people,” Escobar continued. The AirCity project will span an area of 532,000 square meters and operate as an airport free trade zone under the framework of El Salvador’s Free Trade Zone Law. The project will provide an array of incentives to foreign investors, including tax breaks, accelerated customs procedures, and a predictable regulatory environment.

A First-of-Its-Kind Development in Central America

AirCity is being marketed as the first airport free trade zone in El Salvador and the Central American isthmus, which places it in a novel category of real estate developments. The space in which AirCity will be built has direct connectivity to air cargo infrastructure, high-frequency regional and international flight networks, and an expanding logistics and industrial services ecosystem.

Regional and International Comparisons

The incorporation of aviation-related industrial real estate within El Salvador marks the country’s ascendance in this specialized market. The U.S. has a significant lead in airport free trade zones, with substantial developments in states like California, Texas, and Florida. Mexico has been rapidly developing this sector with new projects like Mexipark Logistics City, with two future airport logistics parks planned for Guadalajara and Tijuana, and an established presence with Aeropuerto Industrial Rosarito. In Central America, Panama is a close competitor, with ongoing construction of parks such as Logistica Tocumen and Aerofibra Panamá within its international airport.

Specialized Aviation Infrastructure and Operations

AirCity developers have also emphasized that tenants will be able to leverage the availability of specialized aviation infrastructure for facilities and operations. An on-site taxiway that links directly with the runway will give aircraft access to hangars or logistics facilities without operational delays. Large aircraft operating at El Salvador International Airport will therefore be able to drive or taxi directly from the runway to a hangar or logistics facility without operational interruptions. This flexibility is especially valuable for aviation maintenance, repair, and overhaul (MRO) operations and fast-moving cargo handling.

Multimodal Platform and Logistics Integration

The development will also have a platform of over 124,000 square meters on which aircraft can park, remain overnight, or stage prior to commencing maintenance or logistics operations. Warehouse, hangar, and support facilities are being designed to international specifications. When completed, the AirCity megaproject will combine airside and landside operations to function as a true multimodal platform and will connect logistics services with digital trade infrastructure, road transport networks, and e-commerce ecosystems.

Construction Timeline and Presidential Remarks

AirCity is located about 40 kilometers south of San Salvador, and building construction is set to start in 2026 with early phases expected to be operational by 2027. “The government is building a country that’s pro-business, pro-investment, and pro-technology,” President Bukele said on Twitter, commenting on the start of construction at AirCity. “Projects like these are what El Salvador needs, and we’re going to keep working for all Salvadorans and to transform our country, which is possible because all the sectors are joining forces.”

Job Creation and Workforce Development

The first phase of AirCity is expected to create over 500 direct jobs and 1,000 indirect jobs, and the Aristos Inmobiliaria website says that “upon full operation, we expect to generate approximately 5,000 direct jobs and 10,000 indirect jobs, especially in aeronautical maintenance and logistics, engineering, and other specialized technical services.” Aeronautical maintenance has significant long-term employment potential. The sector is rapidly growing, but demand for certified technicians, inspectors, maintenance engineers, and other specialists has been outstripping supply, creating a major opportunity for training programs and higher education across Latin America.

Impact on Airport Operations and National Economy

Direct employment at El Salvador International Airport is also going to increase significantly. “This is not only a point of origin and destination (POD); it is already a connected airport with great infrastructure in logistics, cargo, air and ocean connectivity and having nearby companies that complement the airport services in which we specialize and have always been distinguished,” Juan Carlos Schaff, head of aeronautical and industrial park development at Aristos, was quoted as saying. “The impact that this [AirCity] project will have will be very important to increase jobs, not only in the airport but also throughout the country.”

El Salvador International Airport as an MRO Hub

El Salvador International Airport, sometimes called “Monseñor Oscar Arnulfo Romero International Airport,” is currently a focus point for MRO businesses. The airport connects San Salvador to central, south, and southeast Asia and operates as a focus city for Avianca and Volaris El Salvador, which has its hub there. A maintenance, repair, and overhaul (MRO) specialist, MRO Holdings, also has an operations facility on the western side of El Salvador International Airport that is the largest aeronautical maintenance facility in Latin America.

Strategic Location and Nearshoring Potential

The airport’s location is also a major selling point. Passengers can fly from San Salvador to southern destinations in the U.S. in under three hours, and flights to destinations in both North and South America are efficient, making it an attractive nearshoring option for companies. AirCity appears to be a major opportunity for real estate developers, multinational companies, and investors in many different industries.

Real Wages, Working Hours, Benefits, and Labor Conditions in Mexico vs. The United States, Spain, and Other OECD Countries

Maquiladora work is an economic engine behind global manufacturing supply chains. Multinational firms manufacture products at scale and at low enough costs to satisfy investors and shareholders worldwide. Wages, working hours, and labor protections for maquila operators, however, differ from country to country in significant and consequential ways. This brief guide compares and explains how much maquila operators are paid, how many hours they work, and why there is a structural wage gap between Mexico and developed economies today.

Mexico’s National Institute of Statistics and Geography (INEGI), the OECD, and international labor agencies all show maquila operators in Mexico earn far less, work more hours, and have fewer protections than in the U.S. or Europe. What Is a Maquila Operator?

A maquila operator is a factory worker who performs repetitive tasks on a production line or within export processing facilities. The work is common to the following industrial sectors:

• Automotive manufacturing
• Electronics
• Medical devices
• Textile and garment manufacturing
• Auto parts and components

Typical duties include operating equipment, assembling parts, visual inspection of components, packaging of finished products, and performing basic quality control and assurance checks. Maquila work is not considered highly skilled. Labor force participation rates are high, but there is a structural difference in wages between skilled and unskilled labor, and this divide has an outsized impact on maquiladoras in Mexico.

How Much Does a Maquila Operator in Mexico Earn in 2025?

The average maquila operator in Mexico in 2025 makes between:

• MXN $7,500 and $11,000 per month, depending on the region and industry
• MXN $42 to $65 estimated hourly pay
• 48-hour work week
• Overtime (night or rotating shifts) is common.

INEGI’s publicly available data also shows that over 60% of maquila workers are still making one to two minimum wages, even within top export-driven industries like automotive and electronics. After decades of productivity gains and export record-breaking years, wages in Mexican maquiladoras have not kept pace with international averages.

Mexico vs. OECD Countries International Comparison

The United States

• USD $2,800 to $3,800 per month
• USD $16–22 per hour
• 40-hour standard work week
• Access to employer-sponsored health insurance, paid vacation, paid overtime, and legal protections against unsafe working conditions

Labor unions in the U.S. have less of a presence within export-oriented industries than in Spain, but manufacturing operators often do the same work as in Mexico for many more dollars.

Spain

• EUR €1,400–€1,800 per month
• EUR €9–12 per hour
• 40-hour legal work week
• Production work is often protected by strong collective bargaining agreements with a robust union presence and extensive worker protections under EU labor standards.

Labor standards enforced by the EU and the Spanish state, such as working hour caps, paid leave, sick time, and severance, often result in overall lower wages but significantly better social and health outcomes for workers.

OECD Average

• USD $15–20 per industrial hour worked
• Shorter working hours and a higher level of automation in the most advanced manufacturing nations
• Lower labor turnover rates result in less precarious working conditions and better job stability

As an important global manufacturing hub, Mexico is among the lowest-paid industrial labor markets within the OECD. The low-cost labor environment, which has attracted enormous foreign investment over the past several decades, has made it difficult for wages in maquiladoras in Mexico to improve significantly.

Working Hours and Conditions

In Mexico’s maquila plants:

• Shifts can last from 8 to 12 hours or more.
• Night work and rotating schedules are common.
• Production rhythms can be very intense, especially as export deadlines approach.
• Worker turnover can be high, and there is significant physical demand on workers.

OECD countries enforce strict limits on overtime and short daily work hours, and mandate that employers respect ergonomic standards and safe working conditions. These fundamental differences in working conditions not only lead to higher wages in other countries but also to better long-term health for workers.

Benefits and Social Protections: Mexico and the OECD

In Mexico

• Mandatory IMSS (Social Security) enrollment, with limited benefits and coverage
• Legally required vacation days are minimal, and most workers are not provided with any vacation at all
• Productivity and results-based bonuses are not mandated or guaranteed
• Unions are not strong across the board, and in some export plants, they have very little bargaining power

In OECD Countries

• Health insurance, often covering the whole family, is standard and legally mandated
• Paid parental and sick leave are often provided.
• Collective bargaining is strong, and legal protections exist against arbitrary dismissal and other unfair labor practices.

It is not only wages that matter, but also the overall quality of employment that maquiladoras in Mexico offer compared to other developed countries.

Why Is There a Wage Gap?

Labor economists point out four major structural factors behind the sustained wage gap:

1. An economic development model built around low labor costs to attract foreign investment
2. Weak and fragmented union representation
3. Competition among developing countries for international manufacturing contracts
4. Less strict enforcement of labor law and regulations

Minimum wage increases in recent years have helped to improve the baseline incomes of maquila workers, but have not shifted Mexico’s underlying position within the global manufacturing value chain.

Can Wages Improve for Maquila Operators?

There is a broad consensus among labor experts, economists, and stakeholders that there are steps the Mexican government and private sector can take to improve wages for maquila operators. These include:

• Salary increases linked to productivity increases
• Stronger labor inspections and enforcement
• Real union empowerment
• Transition toward higher value-added manufacturing

Without significant changes across all areas, maquiladoras in Mexico will continue to be attractive to foreign investors for their low labor costs, not because of their commitment to workers or long-term income mobility.

Conclusion

Maquila operators in Mexico are an essential part of global production chains, and yet they earn less than what factory workers make in the United States, Spain, and other OECD countries. The gap is not the result of worker effort or skill level, but is the product of economic and regulatory choices. So long as this status quo remains unchanged, Mexico’s maquila sector will continue to focus on cost-driven competitiveness rather than shared prosperity for the workers who keep factories operational.

Jeff Bezos, founder of Amazon, has visited Peru. This has reopened the debate about the opportunities the country has for major investors. We asked three entrepreneurs and executives about the country’s strengths. They are Alonso Rey, Alfonso Bustamante, and Felipe Ortiz de Zevallos.

One of the world’s richest people and the founder of Amazon landed in Peru last week. Although Jeff Bezos was not on business but rather on vacation, the visit of the North American magnate has been a boon for investment expectations. Bezos enjoyed his visit to the Andean country and was able to tour Lima’s gastronomy, which included, among others, Central, La Perlita, and Mayta, and did a tasting in the Pisco Valley.

Bezos’ arrival is not the first visit by a world-famous technology-related businessman to Peru. In 2016, Mark Zuckerberg did it, and last year, the country received TikTok’s CEO Shou Zi Chew. However, Bezos’ presence has reopened the debate about the opportunities in the country to receive companies as big as the e-commerce colossus. For some time now, Peru has been described as a blessed country, not only for its landscapes and strategic location, but also for having raw materials capable of attracting the largest companies in the world. It is a fact that Peru has investment potential.

Macro Stability and an Untapped Promise

Years ago, Peru was not just a country with investment potential but “the star of the region” due to its high growth rates. Currently, growth is around 3% but inflation is kept within the target range (between 1% and 3%), the currency is solid thanks to the Central Reserve Bank, and fiscal stability has been maintained (although with the risk of a change if populist policies are extended). These fundamentals reinforce the idea that Peru has investment potential that remains underexplored.

In order to better understand these opportunities, this blog post brings together the opinions of three experts who have a very clear vision about the doors that Peru should open in order to be able to attract the largest investors in the world. They are the former president of the Confederation of Private Business Institutions (Confiep), Alfonso Bustamante Canny; the current ComexPerú president, Alonso Rey Bustamante, and Apoyo founder, Felipe Ortiz de Zevallos.

Peru has investment potential in several sectors

In the opinion of Felipe Ortiz de Zevallos, the rise in international metal prices places mining at the center of the country’s investment potential. He highlighted the need to advance with projects such as Michiquillay and La Granja, in Cajamarca, and Zafranal, in Arequipa, which would drive growth in those regions. These projects would focus on copper, whose demand will increase in the world due to the energy transition.

Alfonso Bustamante Canny put the energy sector on the table in connection with the demand that data centers will require. “Artificial intelligence is taking over the agendas of governments and business leaders, but electricity is the bottleneck,” he said. In this regard, he pointed out that Peru has 8,000 megawatts of efficient energy installed, plus 4,000 more in backup mode.

Alonso Rey Bustamante agreed on the potential of mining and energy, and also signaled in agriculture. “We are a world producer of avocado, grapes, blueberries, and cocoa, among others. With the irrigation projects that are underway, we can expand the lands, increase planting, and have more industrial exports,” he said.

What Peru should do to attract the largest investors

Private investment is key to fostering economic growth, job creation, and poverty reduction in Peru. However, to be able to attract the largest companies in the world, reforms are required. The three experts agreed that the State must simplify administrative procedures for investment and business creation. If the legal certainty and stability are not there, capital will go to other markets.

“The State has to be more agile and must run at the same speed as private investment,” said the ComexPerú president. In this sense, he asked for more digitalization, transmission lines, better roads, and access to the internet countrywide. “The country is spending public money in ways that we do not agree with, like keeping inefficient state companies alive, when those same resources could be used to close the infrastructure gaps. We cannot tell Amazon that the construction of a facility in Peru takes four years and 200 procedures”, he added.

Felipe Ortiz de Zevallos warned about political unpredictability as another threat. He referred to the prediction markets in the world, where people do not bet on elections in Peru because there are so many candidates that no one knows what may happen. In his opinion, this political uncertainty makes confidence take a back seat and investment over the long term is undermined.

Alfonso Bustamante said that it is necessary to improve infrastructure but at the same time advance in the reform of the judicial system, which is “unpredictable” and not able to administer justice.

A lack of security and problems with governance

Rising violence has been one of the clearest stains on the country’s investment attractiveness in recent times. Extortion, violent crimes, and illegal mining have become obstacles to growth. On that subject, Alfonso Bustamante warned that extending the Comprehensive Mining Formalization Registry (Reinfo) would be sending a negative signal to formal investors. Instead, he called for tougher requirements that take into account not only the environmental and occupational safety standards.

Alonso Rey said that the State has to deliver four basic services to the population: security, health, education, and justice. “We are not doing well in any of the four, which is not the case with the countries with which we compete: Argentina, Bolivia, Ecuador, and Chile,” he said. “They are also after the foreign investment we are looking for,” he added.

Felipe Ortiz de Zevallos agreed that public security should be a basic task of the State and that fighting corruption is also essential. The businessman explained that high-profile visitors like Bezos require large security contingents in Peru, which they would not need in Costa Rica or Uruguay. “We are world champions in the culinary arts, we have some bad spots on security and on integrity. On the other hand, there are very good signals: we have been the ones who have advanced the most in the construction of roads in the last decade,” he said.

The key role of the Port of Chancay

The announcement of the Port of Chancay has placed Peru once again in the international spotlight. “It is the great central piece that will strengthen the country’s infrastructure base, and with that, we should take advantage,” said Ortiz de Zevallos. Alonso Rey said that to be able to take full advantage of it, roads with fast access times and a proactive attitude in the search for investment are needed. Alfonso Bustamante added that it is necessary to eliminate logistical bottlenecks around the port for the project to have a significant impact.

What about the Peruvian investment potential?

Felipe Ortiz de Zevallos summarized that a country can attract investment, not by the size of the companies that can arrive, but by the size of its market, stability and governance, infrastructure, talent, how easy it is to do business, or the incentives. “The situation is good in terms of macroeconomic stability, which is extraordinary for Peru, but we have challenges that are not being fully addressed, such as the informal economy, the inefficient State, and the sometimes sluggish bureaucracy,” he said.

Alonso Rey Bustamante was categorical that in Peru, the State has not shown the required willingness to support private investment and saw an opportunity in data centers with renewable energies. “If we have the energy, we should have the containers in place for the data centers; we have the place. The call is to a bit of deregulation, to eliminate some absurdly expensive and unproductive public holidays that close production for four days a year, do not generate tax revenue, but take away productivity,” he added.

Alfonso Bustamante Canny concluded, saying that Peru has investment potential that is extraordinary, and which nobody in the world has. “I don’t know any country that has as many possibilities as Peru. It’s a shame that this has been wasted because of some ineptitude,” he said.