Peru and Panama Strengthen Trade Ties
October 28th, 2011Source: andina
Trade between Peru and Panama will significantly increase once the Free Trade Agreement (FTA) signed between both countries comes into effect starting next year, Panama’s agency for the Attraction of Investments and the Promotion of Exports (Proinvex) said.
Proinvex project manager Johnathan Rodriguez noted that Panama is an importer par excellence and Peru could take advantage of that by selling fresh products that may enter the market with preferential tariff rates.
“Peru may boost its agricultural and manufactured exports to Panama. There could even be a free trade zone from which Peruvian products may be distributed to Asia, Europe or North America,” he said Thursday.
In addition, Rodriguez mentioned that Panama is keen to invest in Peru’s financial sector, that is, banking, insurances, bonds, infrastructure and logistics.
Yesterday, Peru’s National Port Authority (APN) held a working meeting with a trade delegation composed of several authorities and entrepreneurs from Panama.
According to the …
Peru Outsourcing: Will a New President Derail a Country’s Bright Technology Future?
August 16th, 2011
Can Humala deliver funds to boost science and technology?
By Luke Bujarski
Newly elected President Ollanta Humala holds promise for Peru’s knowledge economy, but many are skeptical of his ability to get things done. Overall it’s been a rocky start for the new president. He narrowly slipped into office after battling it out with a former president’s daughter in a run-off election and a scandal involving his brother chumming up to Russian arms manufacturers. Approval ratings plummeted to only 41 percent right before the election, and now Humala is getting flack for being oddly uncommunicative with the press on his governing strategy, just weeks into his five-year term.
Five Things That Might Scare You About Nearshore Real Estate
August 5th, 2011
By Patrick Haller
Nearshore countries say they want the IT and BPO jobs, but some are apparently not willing or able to provide the office space those jobs require. Dynamics vary from location to location, but finding the right facilities for your business is not typically going to be simple. Here are five risks you should be aware of when sourcing real estate in the region.
Taking a cue from Bangalore, Latin American nation Peru is cashing in on the call centre wave. In a chat with Sunday Times of India, Javier Paulinich, Peruvian ambassador to India, spells out plans to further relations between the two nations. Excerpts:
Q: What is Peru’s report card thus far?
A: Peru is the fastest-growing Latin American nation in the past 10 years. Last year, we had a growth rate of 8.8%, with an average inflation rate of 2.5%. We are growing steadily and have a lot to offer India.
Q: Why have you chosen Bangalore to set up the honorary consul office?
A: We are the first Latin American country to set up an honorary consul in Bangalore. This is because we see immense learning opportunities in Karnataka. Bangalore is an Information Technology (IT) hub of India. We want to take the technological know-how from here and …
President Alan Garcia said Peru's economic growth causes "admiration and envy"
Why Gartner Got it Wrong on Peru
By Tarun George
Why does Google think Peru is one of the most attractive markets for tech companies in the world?
Look at the facts: Peru’s economy has been growing at a rate of 7-9% every year, which is astounding in a region where most nations haven’t fully recovered from the recession. But while there are many advantages to this stellar growth, one negative is becoming clear – Peru’s services sector is being left behind. Usually accompanying a strong economy is a move into higher value, knowledge-based services. But in Peru, the tech services ecosystem is not keeping pace.
Peruvian President Alan Garcia has announced plans for Peru, Colombia, Mexico, and Chile to create a new economic bloc. Garcia told the Colombian newspaper El Tiempo that plans are in place for the leaders of each nation to meet in Lima on May 2 in order to set out a road map for further economic integration.
“On May 2 President Santos, President Piñera of Chile, President Calderon of Mexico and myself will meet. We will formalize the deep integration between the four countries. We will arrange the greatest possible free movement of capital, services, products and people so that we can grow more effectively,” Garcia said.
Colombia and Peru currently have economic ties through the Andean Community of Nations (CAN), a union born in 1969 that also has Bolivia and Ecuador as its permanent members. However, Garcia stated his belief that the Community has had its time as …
TCS Latin America Closing Fiscal Year with Big Deals; Investment Up in Colombia, Peru
March 21st, 2011Source: Business News Americas
The Latin America division of Indian IT services firm Tata Consultancy Services (TCS) is closing its fiscal year with several multi-year contracts, each worth more than US$5mn, the company’s Latin America COO, Ankur Prakash, told BNamericas.
Three major deals have come in the banking sector, in addition to a significant contract in manufacturing and another with a regional multi-industry group.
BNamericas previously reported that TCS Latin America posted 8% year-over-year growth during its fiscal H1, but Prakash said recent deals put the division firmly into double-digit growth territory as its fiscal year ends March 31.
“Most of the projects are more than three years… and they are worth more than US$5mn,” Prakash said. “The services will be development, maintenance and support of systems. In a couple of cases, we are doing implementation and support of ERP systems. In most cases, it is a mixture of consulting and …
Stability Powers ‘Vigorous’ Economic Growth in South America
March 16th, 2011From Paraguay to Chile and Brazil to Peru, a growing middle class armed with cheap credit and new confidence in the future is contributing to the most vigorous economic expansion in decades. Since 2002, about 56 million people across Latin America have risen out of poverty, according to the World Bank, and economists now talk of a new dynamic that reflects the stronger foundation of more-mature economies: increasingly affluent consumer societies.
As Juan Forero of The Washington Post reports from Ushuaia, Argentina:
Here at the end of the Earth, just 600 miles from Antarctica, tourists hike over glaciers and flock to rocky beaches to photograph penguins and 700-pound sea lions.
Tierra del Fuego, or Land of Fire, on the southernmost tip of South America, is as breathtaking and forlorn as its name suggests. This island is also a little-known motor of manufacturing that churns out cellphones and LCD …
COUNTRY PROFILE: Peru Remains a Great Bargain, but Watch for Gaps in English and IP Protection
October 21st, 2010
By Tarun George
There’s no question that Peru has been in the sourcing spotlight lately. In January Google announced plans to locate to the country, in July we heard about Tata Consultancy Services (TCS) setting up in Lima, and then in September Allus Global completed its new BPO center there with an investment of $5 million.
Not bad for one year, and those are just a few examples. But while Peru is not dogged by the usual workforce scalability issues, analysts are worried that inherent problems with the political system, investment and intellectual property protection, and English proficiency in the workforce could be major roadblocks to the country’s expansion in services. Here we summarize Peru’s strengths, weaknesses, and prospects for the future.
