Lima, Peru – Peru’s Obras por Impuestos (OxI) mechanism, a public-private partnership that allows companies to offset their tax liabilities by investing in public infrastructure projects, has seen a significant surge in investments in 2024. According to José Salardi, the executive director of the Agency for the Promotion of Private Investment (ProInversión), the mechanism has attracted a total of S/4.004 billion through 124 contracts awarded up to December 20.

This impressive figure marks a significant milestone for the OxI mechanism, as it surpasses the total investments accumulated over the past seven years. The program has expanded its reach to cover 23 regions across Peru, demonstrating its growing popularity among both the public and private sectors.

"This is an unprecedented result in the history of OxI," said Salardi. "Our focus now is to maintain this momentum by working closely with government authorities and the public sector to identify and develop high-impact social projects."

Recent Adjudications

In recent months, ProInversión has awarded six new OxI projects in the regions of Arequipa, Ica, La Libertad, Loreto, and Ucayali, representing a combined investment of S/343 million.

Denisse Miralles, director of Decentralized Investments at ProInversión, highlighted a particularly noteworthy project in the Loreto region: the creation of a service to support the sustainable use of biodiversity in four production units of Maynas and Mariscal Ramón Castilla.

"This is the first OxI project focused on species conservation initiated by a regional government," said Miralles.

Escorpión Contratistas Generales has been awarded the contract to invest S/40.4 million in this project, aimed at increasing the population of the taricaya turtle in four Regional Conservation Areas (ACR). The project will benefit approximately 5,200 residents in the districts of Alto Nanay, Ramón Castilla, Pebas, Tigre, Napo, Mazan, Las Amazonas, and Fernando Lores.