Fernando Ruiz, director of Incuse, points out that the region has two mining projects in its portfolio but no new prospects for the future.

Speaking at the Rumbo a PERUMIN event in Cusco, Fernando Ruiz Caro, director of the Cusco Institute of Economics (Incuse), said that the region needs more mining exploration projects to avoid losing its development potential.

In his presentation entitled "Regional Competitiveness: Cusco”, he explained that the department currently has only two mining projects, Quechua and Integración Coroccohuayco, and no new ones have been discovered due to the lack of exploration.

"By 2030, the Cusco region will lose its development potential because we only have two projects. We don’t have any new projects, and there is no exploration. If this continues, Cusco will become like Cajamarca, which, despite having mining deposits, has not developed new prospects," he warned.

He also pointed out that one of the main problems making Cusco less competitive is corruption among officials.

"Every year, two or three hospitals, and between 200 and 300 kilometers of roads are not built because of corruption in the region," he noted.

Ruiz stressed that the region has the necessary resources to regain its competitiveness but lacks public management.

He also highlighted that, this year, Cusco has collected more than S/ 730 million in gas royalties and over S/ 59 million in mining royalties.

Finally, he mentioned that in provinces with higher private investment, such as Espinar, which is part of the mining corridor, there is greater progress in human development.