Peru: Strong Business Optimism

BY JOACHIM BAMRUD

Jack Hanks is bullish on Peru. The Chairman of Maple, a Dallas-based group of energy companies, says the  South American country offers one of the best business climates anywhere in South America.

"Peru has one of the most outstanding business environments in all of South America," he says. "You can freely transfer currency, theres no withholding on revenue base. Its easy to find qualified people."

And Hanks has nothing but praise for President Alan Garcia, a former leftist firebrand who assumed office in July. While Garcias first administration (1985-90) was marred by economic chaos, debt default and hyperinflation, his new government is seen as committed to improving Perus business climate. Hanks says Garcia is just as pro-business and supportive of investors as his most recent predecessors.

Roque Benavides, CEO of Perus largest publicly-traded mining company Buenaventura, goes even further. "We have a government that’s...