Overview
- BCR data show private investment rose 13.2% year‑on‑year in Q1 2026 with mining investment expanding 41.2%, driven by new mine work and major transport projects.
- Velarde told mining leaders late last week that a roughly US$47 billion pipeline of copper projects could add more than three million tonnes of capacity and potentially let Peru surpass Chile if those projects finish.
- He identified concrete barriers that must be fixed: project approvals now involve 29 public entities, 13 ministries, nine technical bodies and more than 200 procedures which slow or block investment.
- Velarde also faulted recent fiscal choices and frequent authority turnover for weakening predictability, noting the country did not rebuild the Fiscal Stabilization Fund and shifted spending toward permanent current outlays.
- If Peru advances the pipeline and cuts red tape the likely effects include faster export growth, more construction and formal jobs, and higher tax revenues but the gains depend on clearer rules and sustained policy continuity.