Andean Special Report: Land for Sale
Sep 1, 2008
Peru is in the midst of sweeping agricultural reform. Unlike the first round four decades ago, which distributed land to peasants, the state is now actively targeting investors.
by Lucien Chauvin
In its first major agriculture overhaul since the 1960s, Peru has created a new legal framework for investment that aims to make the sector more profitable. Estimates of investment in agriculture generally top $2 billion over the next three years, boosted by the new legislation and hopes that Peru can sustain rapid economic expansion. GDP has grown nearly 10% in the five months through May and credit is getting more affordable following a leap to investment grade.
There is a great deal of interest in investing in the expansion of existing projects, but even more so in new projects. The new laws should attract more attention, says Lizardo Miranda, general manager of Lima-based AC Capitales. The dedicated agro investment fund, a first for Peru, launched in 2007 with $50 million...
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