Hong Kong and Mainland Chinese Enterprises Sign Six MOUs for Investments in Peru

Invest in Solar Farm and Hydropower Infrastructure Developments; Develop Coffee Trading and Gold Mining Projects

Regional and Provincial Government of Peru Hong Kong Office Opens to Promote Sino-Peru Trade Cooperation and Cultural Development

HONG KONG, CHINA - Media OutReach - 8 August 2019 - The Regional and Provincial Government of Peru Hong Kong Office ("the Office") announced the signing of six Memorandums of Understanding ("MOUs") with Hong Kong and mainland Chinese enterprises for projects in such diverse sectors as solar energy, hydropower station construction, coffee trading, and gold mining, establishing a strong foundation for the long-term collaboration between China and Peru. Asia Cosmos Group Limited ("ACG") announced on the same day that it has received authorization from the provincial municipalities of Chanchamayo and Utcubamba of Peru to support commercial exchange between Peru and China in Hong Kong SAR, Macau SAR, and mainland China. It will facilitate the development of tourism, agricultural products, trade, and technology, as well as to attract investment to projects in Peru and promote Peruvian culture.

Under the auspices of PeruCham and ACG, the Regional and Provincial Government of Peru Hong Kong Office was officially opened today. Its principal duty is the promotion of the provincial municipalities of Chanchamayo and Utcubamba in Hong Kong SAR, Macau SAR, and the Greater China area in order to strengthen bilateral trade, in addition to inducing investments for a wide range of projects encompassing agriculture, trade, technology, and tourism.

Mr. Jose Eduardo Mariño Arquiñigo, Mayor of the Provincial Municipality of Chanchamayo, said, "Peru is endowed with rich natural resources and agricultural goods, the promotion and development of which the regional and provincial governments have always fully supported. With the full endorsement from Chinese enterprises, we have signed MOUs to promote Peru's coffee culture, and set up a coffee inspection center and free trade inspection area, which will facilitate the development of local industries in Peru. The collaborations mark an important gesture symbolizing the friendship between Peru and China."

Mr. Hidelfonso Guevara Honores, Mayor of the Provincial Municipality of Utcubamba, said, "As China's economic growth flourishes, it has become a major player in international trade. We are delighted to sign a MOU with a Chinese enterprise for a solar energy project. As at May 2019, Peru has generated 14,900 megawatts of renewable energy, which is a vital resource project that Peru is dedicated to develop. We believe that bilateral trade between Peru and China will continue to grow going forward. At the same time, we can learn from China's experience to enhance Peru's economic prowess."

The MOUs announced on this occasion covered such diverse sectors as infrastructure, cultural products, agriculture, and mining. The projects include the hydropower station construction project with Beijing Hongxiao Xinghua Technology Co., Ltd., the solar energy project with Wanke Energy Technology Co., Ltd., the project for coffee distribution, promotion of coffee culture, and establishment of a coffee inspection center and free trade inspection area with Hong Kong Encash Investment Company Limited, and the gold mining project with Cyber Credit Technology (Hong Kong) Limited.

To commend individuals who have given outstanding contributions to Peru's economic and trade development, the Office also held an honors presentation ceremony. Mr. Hidelfonso Guevara Honores and Mr. Jose Eduardo Mariño Arquiñigo presented honorary medals to recipients in recognition of their important contributions to Peru.

Ms. Wan Yuk Chee, Chairman of Asia Cosmos Group Limited, said, "I am honored to accept two Medals of Honor from Peru. Peru is one of the fastest-developing countries in South America. The Peruvian government has been actively introducing policies that create an investor-friendly environment. During the year from 2017 to 2018, the foreign direct investment Peru received grew from US$6.8 billion to US$8 billion, which demonstrated how foreign countries recognize Peru's development potential. I look forward to the investors in Hong Kong, Macau, and China getting to know Peru's wide-ranging prospects better, and invest in the country from a global perspective."

List of Honorees: