Peru's diverse geography and climates, as well as its location along South America's central Pacific coast, give it privileges enjoyed by few nations. However, the country's natural wealth in agriculture, mining, and fishing
The administration of former president Alberto Fujimori (1990-2000) emphasized the raw material export model, offering incentives to capital-intensive investments, particularly in mining. By privatizing telecommunication services, the government opened this as a new and important sector within the economy, with investments totaling nearly US$4 billion throughout the last decade. The new government, while recognizing the importance of mining, is pledging to emphasize labor-intensive sectors, particularly manufacturing, farming, and tourism as a way to diversify the economy and create jobs.