Industrial parks are spreading across several key areas of Peru, a development that lays the foundation for increased competitiveness for the country's industrial sector within the global economy.

Industrial parks play a key role in Peru's plans for economic development, with construction on several sites underway as firms look to establish manufacturing and commercial operations at established and secure locations. As Peru continues to attract foreign investment thanks to its growing list of FTAs, industrial parks will take greater prominence in the coming years.

The rise in these facilities can be traced to the passage of a 2015 law promoting a new system of industrial parks. The law, hailed by many as a key move toward boosting Peruvian industry, includes several incentives for companies established in industrial parks, including priority consideration for government funding programs and preferential treatment from the National Superintendency of State Assets. By consolidating activity into an economically viable location under streamlined management, the hope is that industrial parks will increase efficiency and limit negative externalities that would otherwise harm surrounding areas.

The first world-class park under these new regulations is Grupo Inmobiliario Triana's Sector 62. Located in Chilca just south of Lima, Sector 62 is poised to become a flagship example of the industrial park format thanks to its careful construction and ideal location. Gisela Flores, director of the site, explained to TBY that Sector 62 has several key elements in its favor. “The Panamerica Sur is the principal road for heavy trucks in Lima," Flores explained. “We looked for land that was in front of the Panamerica Sur. [Another] one of the advantages of Sector is its completely flat ground, [which provides] durable flooring for an industrial plant."

Additional projects are well underway as firms try to formalize the industrial parks model. Lurín and Chilca, both industrial areas on the outskirts of Lima, are two popular sites for such development. Estimates are that around 3,000ha are available for industrial park development in these two regions alone, which are in high demand thanks to their proximity to Lima and Callao, Peru's largest port.

Another highlight of the movement is Inversiones Centenario's Macropolis, an industrial park planned for Lurín nearing the first stages of construction. “The district will become one of the most important industrial areas in Lima," Centenario CEO Gonzalo Sarmiento told TBY. “We have 900ha in that zone and are developing a new industrial park." Centenario plans call for an easy-to-access “industrial city" that will provide the infrastructure and security needed for workers located at the plant to live on-site. Central to the vision is the construction of the Via Periurbana, a north-south alternative to the overburdened Panamerica Sur.

Lima is far from the only site where the industrial park model can take hold. Moving away from the costal center offers more land at lower prices, and firms can strategically position themselves in areas central to mining, fishing, and agriculture. CETICOS Paita is one such example; the Center for Exportation, Transformation, Industry, Commercialization and Services functions as a logistics platform that leverages its prime location on the coast of Paita, the center of Peru's fishing industry. “[Our] privileged position near the Pacific Ocean allows us to connect to many countries," CETICOS president Jose Alvarez told TBY. Over USD270 million has been invested in the harbor thus far, with further improvements forthcoming. Like Centenarios, CETICOS is also planning to build a new highway, connecting Paita and nearby Piura.

A look at the current crop of industrial parks springing up shows both the problems and potential that the country faces. Infrastructure is essential for the rapid and efficient transfer of goods, and the limiting factor for several parks is their proximity to key throughways. However, Peru's abundant natural resources and natural trade channels show that there are great opportunities for growth and expansion in several sectors of the economy. In this regard, industrial parks are sure to be an important avenue for future development.