The new Peruvian Government plans to take a significant role in key industries, including natural gas and hydroelectric projects, according to Prime Minister Guido Bellido (pictured).
Mr Bellido said the Government also planned to create new public companies, a shift for the Andean nation which in recent decades had focused on divesting its State-controlled corporations.
He said newly-inaugurated President, Pedro Castillo would also establish a committee of top Public Servants, headed by Minister for the Economy, Pedro Francke, tasked with finding ways of keeping inflation in check.
During Mr Castillo’s presidential campaign, he accused private enterprise of plundering the nation’s wealth and said he would seek to nationalise natural gas, gold, silver, uranium, copper and lithium mining projects.
Mr Castillo later played down those comments and said private investment would be respected.
However, Mr Bellido said the State would have a degree of participation in key industries.
“Our feeling is that strategic sectors need to be in the hands of the Government,” Mr Bellido said.
“In my opinion, natural gas is a strategic resource and needs to have Government participation (as well) as new hydroelectric projects of large size,” he said.
While acknowledging Peru was a mining country, Prime Minister said that under the new administration, corporations would need to invest more in improving relations with local communities.
Lima, 10 August 2021
