On Thursday Peru’s Minister of Finance, Luis Miguel Castilla, announced Peru had a series of investment projects underway, which would reach 50 billion dollars over the next three years.

During his presentation at the ‘Invest in Peru’ forum, in Madrid, Castilla said the Peruvian government was waiting for the investments to be finalized.

The minister said 50 percent of these investments would be focused on the extractive industries, related to natural resources, mining and oil.

"The other 50 percent [of investments] would focus on other areas, mainly infrastructure," Castilla said, according to Peru21.

He said developing and marketing of the country’s tourism natural resource industries were still low, when compared to the rest of the region, but said there were still many opportunities available.

Castilla added that Peru had recently benefited from the issuance of sovereign bonds in international markets.

The minister also revealed that 80 percent of the country’s exports were currently made under free trade agreements, and said the Peruvian government was close to signing a new trade agreement with the European Union.

"This commitment demands the country work internally to promote more competitiveness to take advantage of the opportunities on the outside," he said.