Investment in telecommunications is crucial for Peru’s economic and social development

Since the advancement of telecommunications in Peru accelerated in the early 1990s, the constant has been evolution. Landline telephones, cable television, the Internet and, more recently, high-speed Internet have revolutionized our lives and contributed to the economic and social development of the entire country. The future is full of more possibilities as new technologies, such as artificial intelligence, come into play. This was highlighted by a renowned panel of experts in the recent webinar: “The impact of telecommunications in Peru”, carried out for the 30 years of Telefónica in our country, which was broadcast by the fanpage de Facebook and the channel of YouTube of the newspaper El Comercio.

During the conversation, it was highlighted that investing in infrastructure is probably the best strategy to accelerate the reduction of social inequalities and increase the productivity of our economy. It is enough to remember that, according to INEI figures, the share of the telecommunications sector in GDP has tripled in the last 30 years, going from 1.6% in 1994 to 5.1% in 2023.

Furthermore, in the last 22 years, the telecommunications sector has executed private investment projects totaling US$19,624 million, according to data from Osiptel. A reality that remains strong because in 2023, while private investment fell 7.3%, investments in telecommunications grew 11.2%.

Elena Maestre, CEO of Telefónica del Perú, emphasized that since 1994 the company has managed to shorten distances and provide solutions.We reach all regions of Peru, both cities and rural areas, promoting digital inclusion“, said the representative of the company that has 14 million clients in the country and that has as one of its main goals to reduce the digital divide in the nation.

For this reason, in the last five years, Telefónica has connected more than 3.5 million people from 18 thousand rural communities thanks to the ‘Internet for all’ initiative.Our goal is for all of Peru to be connected” added Maestre, who points out that optical fiber will be what will allow closing gaps to become a reality.

Roque Benavides, president of the Buenaventura Mining Company, recalled that in the early 1990s, Peru was completely isolated.Of course, when Telefónica was privatized, it was a success that not even the president at the time believed. More than 2 billion dollars gave extraordinary support to Peru (…) The beginning of Telefónica’s work allowed much of the economic growth of our country, it generated much more communication. And that changed the face of business, of the economy.“, he noted.

Looking to the future

The panel, which was moderated by Maite Vizcarra, an expert in Digital Transformation, stressed that commitment to digital transformation is crucial for Peru’s development, as has been demonstrated in recent years, even during the pandemic.

“For companies, this investment in telecommunications has allowed us to provide better services. During the pandemic, schoolchildren were able to attend classes thanks to telecommunications (…) The speed of technological progress is a great opportunity for Peru in general (…) Let’s talk, for example, about health. You will be able to connect patients online to know exactly what is happening to them. Preventive health can be an important change for our country. Telemedicine already exists, but now we have to expand it and reach more places.“, said Fernando Zavala, CEO of the Intercorp Group.

For her part, Marushka Chocobar, former Secretary of Digital Government and expert in digital citizenship, pointed out that the great challenge is to define how we can achieve that “In the midst of the maelstrom of artificial intelligence, there is equity and all people have the same opportunities when strengthening digital skills is required in an increasingly demanding world.”.

During the conversation, the importance of joint work between the private telecommunications sector and the Peruvian State was also highlighted. Raúl Pérez-Reyes, Minister of Transport and Communications, stressed that growth in this sector has allowed our country to make a great leap in productivity.

“For example, it would be unthinkable to talk about the mining boom if we had not had ISDN links at the time and if we did not have Internet access connections today that allow us to manage production processes. We see an economic development for our country that has a lot to do with telecommunications infrastructure.“, he claimed.