The Peruvian economy faces the challenge of reducing its dependence on mining, according to an entity.

For decades, the Peruvian economy has been heavily dependent on mining, a sector that has been a driver of growth and a source of tax revenue.

However, a recent World Bank report warns of the need to diversify the economy and strengthen non-mining sectors such as manufacturing, agriculture and services.

To reverse this situation, the World Bank recommends, in its report entitled "Peru: Seizing Opportunities for Growth and Prosperity", promoting technological innovation and improving access to financing in key industrial sectors.

The document highlights the potential of agribusiness, a sector that has shown sustained growth in recent decades.

"The total value of agricultural exports increased 15-fold from 2000 to 2022, demonstrating the sector's potential," the report said.

To consolidate these advances, it is suggested to continue investing in irrigation infrastructure and strengthen organizations such as the National Agrarian Health Service (Senasa) to open new international markets.

In the services sector, tourism is emerging as an opportunity for growth.

"Peru is one of the ten countries with the greatest biodiversity in the world and a key tourist destination in South America; but it still has much room for improvement in connectivity and international promotion," says the international entity.

In this regard, it recommends improving infrastructure in regions with high tourism potential and developing strategies to attract more foreign visitors.

On the other hand, the transition towards a green economy is presented as both a challenge and an opportunity.

"The global push towards clean energy represents a substantial opportunity for Peru, especially given its vast reserves of copper, a key mineral in the energy transition," the document highlights.

According to the World Bank, Peru should modernize its regulatory bodies, speed up the granting of permits and promote climate-smart mining with a lower environmental impact.

The report also highlights the importance of attracting investments in renewable energy and sustainable technologies, since "Peru has great potential in solar and wind energy, which would allow it to diversify its energy matrix and reduce its dependence on fossil fuels."