Andean Special Report: Land for Sale
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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