Peru becomes LatAm's biggest market for Chinese investment

Peru is Latin America's leading destination for Chinese investment, the Radio Programs of Peru (RPP) news network reported Wednesday.

In the past 12 months, Peru attracted about 50 percent of the Chinese investment in the region, which amounted to 9.3 billion U.S. dollars, said RPP, citing the data from the Peruvian-Chinese Chamber of Commerce (Capechi).

"These investments, mainly in agriculture, manufacturing and services, have been made by more than 120 companies in Peru that are funded by Chinese capital," Capechi President Jose Tam told RPP.

"China's interest in our market is very high, so we are expecting the arrival of more Chinese firms," he added.

The first China-Peru business forum, organized by Capechi, will be held Thursday in Lima, Tam said.

Juan Carlos Capunay, Peru's new ambassador to China, said China was Peru's leading investor in the crucial mining sector, with some 19 billion dollars worth of projects, adding that trade exchange between the two countries was more than 15 billion dollars.