Psicotec Peru, a strategic partner for Spanish companies

  • Spain is the leading investor in the country, with slightly over 4,490 million dollars.
  • More than 300 Spanish SMEs are present in the Peruvian market.

mapa peru

Lima, 6 July 2015. According to the World Bank “Doing Business 2015” report, Peru is the second country in Latin America -after Colombia- where it is easier to do business (number 35 in the world ranking).

In recent years, the country has offered a favorable environment for foreign investment, which is equally treated as national investment. To mitigate the lack of infrastructure in the country and boost growth, the government is promoting public-private partnerships in the transport, energy and technology sectors.

The opening of its business economy has also been significantly accelerated thanks to a policy to dismantle tariffs and the signature of bilateral treaties on free trade with third countries.

As far as Spain is concerned, Peru is already an old acquaintance for Spanish companies, more than 300 of which (many of them SMEs) are nowadays present in this market. This is the case of PSICOTEC, a multinational consultancy firm specializing in human resources, which has been active in the country since 2007.

Furthermore, Spain is the leading investor in the country, with over 4,490 million dollars (19% of the total stock), followed by the UK (18%) and the US (14%). Traditionally, a major part of this investment has been geared to the telecommunications, energy, oil&gas and finance sectors.

In terms of trade between the two countries, the balance is structurally favorable to Peru. In 2014, Spanish exports exceeded 499 million euros, with various machinery items and intermediate products as main protagonists. In turn, imports (including natural gas, zinc, copper and agricultural products) were of 1,313 million euros.

In this context, Kareen Rivas, director of PSICOTEC Peru, gives us some practical clues on the performance of the Peruvian market. She highlights that, in terms of the establishment of companies, one advantage lies in “knowing all the legal and tax aspects”. “We have government agents who are permanently overseeing the work and performance of companies. Being updated on how to comply with these requirements may well determine your success as a company here”, adds Rivas.

To view Kareen Rivas, other business delegates and the Economic and Trade Counselor of the Embassy of Spain in Lima, click on the video below.

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