Works for Taxes exceed US$969mn in awards

This is an automated translation of the original release published in Spanish.

By ProInversión

An unstoppable pace. The awards through Works for Taxes reached S/ 3,629 million this year through 117 projects in Education, Health, Transportation, Sanitation and Citizen Security, reported the Private Investment Promotion Agency – PROINVERSIÓN.

The director of Decentralized Investments, Denisse Miralles, explained that this result is unprecedented in 16 years since the creation of the mechanism and that it now covers 18 regions to contribute in a decentralized manner to the execution of regional and local government projects, as well as public universities with private investment.

He added that the result is also a response to the strategy and technical work that the agency has been carrying out, which has allowed it to award, for example, five projects in the last week for S/ 482.7 million, which include the improvement of the Ciencias High School in Cusco (S/ 249 million), construction of a dam in the Yura River basin in Arequipa (S/ 102 million), improvement of the Javier Heraud High School in La Libertad (S/ 68 million), construction of bike paths on the stretch between Cutervo and Huacachina Avenues, Ica (S/ 40.7 million), and improvement of the Nuestra Señora de la Natividad High School in Cusco (S/ 23 million).

Likewise, so far this year, 42 public entities and 68 companies have joined the use of the Works for Taxes mechanism, which represents an important advance in the reception that this mechanism has been registering, Miralles stressed.

PROINVERSIÓN expects to close the year with awards of over S/ 3,900 million in Works for Taxes, a result that would exceed the accumulated figure in the last five years, to measure the magnitude of the impact in 2024, said Denisse Miralles.

In total, the mechanism reached 619 works awarded between 2009 - 2024 (December 10) for S/ 11,202 million that allowed more than 22 million Peruvians to benefit from better infrastructure and services.

Of these, some 298 projects have been completed and another 321 are in progress, which also demonstrates the effectiveness of the mechanism to attract private investment to develop public projects in Peru.