Diplomatist Magazine DIplomatist September 2018 | Page 37

COUNTRY REPORT
• US$ 6.1bn for reconstruction;
• US$ 1.7bn for disaster prevention and urban development;
• US$ 138.6 m on institutional strengthening.
40 sports, demanding services in areas such as event planning
and staging, venue design and construction, culture and
ceremonies, security, transportation, amongst others.
The imperatives of this major undertaking will be tackled
with an investment of US$1.5 billion to fund projects related
to its organisation. There is a need for 33 additional sports
venues in different areas of the city, including a stadium that
can fi t 25,000 people, a coliseum for 12,000 people, a 2.4 km
rowing centre, a major aquatic centre upgrade and a games
village to host 10,000 people.
Information Technology and Start-ups
Another area included in the Peruvian infrastructure gap
is IT. Although Peru’s rough geography has made it diffi cult
to connect rural areas in the Andes and the Amazon, our
country has found different solutions to this problem through
foreign investment, particularly in the telecommunications
sector. Perhaps the most striking example of this phenomenon
is the mobile phone industry, which has grown quickly in
the past 10 years, and that now boasts a penetration rate of
around 60 percent.
In 2013 the Peruvian Congress approved a law requiring
mobile network operators to sell space to mobile virtual
network providers, and, in 2014, a second law, making it
easier for mobile customers to keep their phone numbers
while migrating service providers, took effect. These two
changes have transformed one of Latin America’s least
competitive telecommunications industries into one of the
most competitive in the region. More recently, Peruvian
legislators passed a law that requires mobile network
operators (such as Telefónica, Movistar, Claro and Entel) to
rent space to mobile virtual network providers.
Source: Proinversion
Source: Proinversion
Source: Proinversion
In addition, the Peruvian government has passed new
legislation that shall simplify the bidding process for
reconstruction efforts, by transferring teams to regions instead
of projects being sent to the capital, Lima, for approval. More
information about the reconstruction process can be found at
the RCC’s webpage at http://www.rcc.gob.pe/
2019 Lima Pan American Games
In 2019 Peru will host the XVIII Pan-American Games,
Peru’s fi rst major sporting event featuring 42 countries. This
event will take place from July 26th through August 11th,
2019, in Lima. Over 7,000 athletes will compete in almost
Peru is also working hard to create a new start-up
ecosystem with initiatives such as “Start Up Peru”, an
accelerator program for small technology companies, and
a public support mechanism for start-ups. “Start Up Peru”
was launched in 2012, with the objective to promote the
emergence of Peruvian start-ups and innovative products.
Just in 2017, 837 projects applied for seed capital from Start
Up Peru. Of those, 106 ventures were chosen to receive the
equivalent of $5,000, $46,000 and $153,000 in funding.
Extraordinary and Plenipotentiary Diplomatist • Vol 6 • Issue 9 • September 2018, Noida • 37