Works for Taxes rebound: 26 Projects for S/ 425 Million Were Awarded in the Last 5 Weeks

ProInversion Statement

This is an automated translation of the press release issued in Spanish

In the last five weeks, the awarding of contracts through Works for Taxes (OxI) observed a significant increase, reaching S/ 425 million through 26 investment projects, mainly in remote areas of the country, reported the Private Investment Promotion Agency - PROINVERSIÓN.

The number of registered awards, from September 1 to October 4, even exceeded the number accumulated in all of 2023 and, in terms of committed investment amounts, is equivalent to 80% of what was registered last year.

The result demonstrates the enthusiasm that regional and local authorities have shown for developing investment projects through Works for Taxes, due to the efficiency of the mechanism in terms of time and cost, as well as the expectation of developing quality infrastructure and public services for the benefit of their citizens.

In addition, in September, 15 new small and medium-sized companies began financing projects and investments through the Public Works for Taxes mechanism, reflecting the private sector's confidence in this public investment mechanism.

Among the projects awarded in the last five months, the following projects stand out for their improvement: recreation and leisure services in Golda Meier Park, Salas district, Ica (S/147.6 million), IE N° 40091 Alma Mater de Congata, Uchumayo district, Arequipa (S/38.6 million) and Av. Pachacutec, Av. Huayna Cápac and Av. Miguel Grau of Annex 22 of the San Antonio district, Lima (S/35.7 million).

With this result, public entities (ministries, regional governments, local governments and public universities) have awarded 84 projects so far in 2024 (until October 4), with an estimated investment of S/ 2,779 million in Education, Transportation, Health, Sanitation and Security.

This year, the Regional Government of Ica is among the most active public entities by awarding investments for S/ 471 million; followed by the District Municipality of Ilabaya, with 4 investments for S/ 36 million and the Regional Government of Lima, with 3 investments for S/ 53 million.

ACCUMULATED

Likewise, since the implementation of the Works for Taxes mechanism in 2009, 587 projects have been awarded and executed for S/ 10,318 million, benefiting 22 million Peruvians. In the period from 2009 to October 4, 2024, 207 financial companies and 262 public entities have intervened, which has improved people's quality of life.

Public Works for Taxes is a form of public investment execution that allows for the rapid execution of quality projects with the participation of private companies. Thus, the State, through the use of this mechanism, promotes the closing of infrastructure gaps in the education sector for the benefit of students and the country.

In this mechanism, PROINVERSIÓN provides free technical advice and support to public entities throughout the process (from the prioritization phase to the granting of the contract) and coordinates them with private companies interested in financing these projects.