Gutiérrez Romano, Miranda Herrera and the profiles channeling institutional capital in Latam

USD 41 billion in FDI and 66 billion soles in public investment: the figures defining the cycle

The channeling of institutional capital toward real assets in Latin America is experiencing an unusually intense period. In Mexico, the Ministry of Economy reported a record accumulated foreign direct investment (FDI) of 41 billion dollars through the third quarter of 2025, according to official data published by El Heraldo de México. In Peru, the Ministry of Economy and Finance (MEF) projected that public investment would reach 66 billion soles during 2025, a figure that, if realized, would represent an all-time high. Behind both indicators operate technical profiles whose influence over capital flows determines the direction of the real estate and infrastructure market in the region.

This article identifies the key executives and officials who shape investment programming, regulation, and promotion decisions in Mexico and Peru, two priority markets for GRI Institute members seeking cross-border opportunities.

Who is Luis Rosendo Gutiérrez Romano and what is his role in attracting FDI to Mexico?

Luis Rosendo Gutiérrez Romano holds a central position in Mexico's foreign investment attraction strategy. As an official at the Ministry of Economy, Gutiérrez Romano has been the visible figure behind the record FDI report of 41 billion dollars accumulated through the third quarter of 2025 (Ministry of Economy / El Heraldo de México, November 2025). Of the total reported, 16% corresponds to new investments, an indicator that industrial real estate analysts consider decisive for anticipating demand for logistics spaces and manufacturing facilities, according to Ministry of Economy data published by Radio Fórmula.

The fact that 16% of FDI in Mexico corresponds to new investments signals an expansion cycle, not merely reinvestment, which translates directly into demand for industrial land and logistics assets.

Gutiérrez Romano also leads Mexico's negotiation strategy in the USMCA review scheduled for 2026. The process, currently underway with a target date of July 2026, focuses on rules of origin and national security for Asian-origin investments, two variables that directly affect the location of production plants and, by extension, demand for industrial parks in the Bajío, northern, and southeastern Mexican corridors.

In parallel, the Plan México promoted by the Ministry of Economy envisions the creation of 15 Economic Development Poles for Well-Being (PODECOBIS) across 14 states, according to information from the Government of Mexico published in July 2025. The Presidency has projected that these poles could attract investment equivalent to 1.5% of GDP over the 2024-2030 administration. For developers and institutional investors participating in GRI Club discussions, this productive decentralization policy opens opportunities in secondary markets that until recently lacked sufficient scale to attract institutional-grade capital.

What role does David Guillermo Miranda Herrera play in public investment programming in Peru?

David Guillermo Miranda Herrera was appointed Director General of Multiannual Investment Programming (DGPMI) at Peru's Ministry of Economy and Finance, according to an official publication in El Peruano in April 2025. The DGPMI is the entity responsible for prioritizing, approving, and programming public investment projects executed by Peru's three levels of government.

Miranda Herrera's position at the DGPMI makes him the primary technical gatekeeper for programming infrastructure megaprojects in Peru, a market where projected public investment is reaching record levels.

The regulatory context reinforces the significance of the position. Law No. 32069, the new General Public Procurement Law effective since April 22, 2025, introduces value-for-money criteria and new public procurement modalities. Miranda Herrera, from the MEF, oversees the impact of this legislation on investment programming. For institutional funds and developers evaluating participation in public-private partnerships in Peru, understanding the DGPMI's priorities is essential for anticipating the pipeline of projects with execution viability.

The MEF projects significant growth in public investment during the 2025-2026 biennium, driven by both the new law and the unblocking of stalled megaprojects. This dynamic generates multiplier effects on the real estate sector, from social housing linked to major infrastructure works to commercial assets in the influence zones of new transportation corridors.

Verónica Zambrano and the regulation of concessioned infrastructure in Peru

Verónica Zambrano, president of Ositrán (Supervisory Agency for Investment in Public Transportation Infrastructure), confirmed that accumulated investment in concessioned transportation infrastructure in Peru reached 14.085 billion dollars in 2025 (Ositrán / Andina, January 2026). The figure reflects decades of private participation in port, airport, road, and railway concessions.

The flagship project of the current cycle is Lima Metro Line 2, which led execution in 2025 with 603.7 million dollars in valuations, according to Ositrán data published in January 2026. The magnitude of this project creates a real estate appreciation corridor along its route that institutional investors monitor closely.

With USD 14.085 billion accumulated in concessioned infrastructure and a single metro project executing over USD 600 million annually, Peru consolidates its position as a key market for institutional capital in Latin American infrastructure.

Zambrano also oversees tariff regulation for the Port of Chancay, the megaport operated by Chinese capital currently in the regulatory framework implementation phase during 2025-2026. Ositrán's decisions on tariffs and competition conditions at Chancay have direct implications for the development of logistics and industrial parks in the port's area of influence, a recurring topic in discussion tables among GRI Institute members focused on Andean infrastructure.

Paola Lazarte: from the public sector to bridging private capital

Paola Lazarte represents an increasingly relevant profile in Latin American infrastructure markets: the executive who transitions from the public sector, where she accumulated experience at Peru's Ministry of Transport and Communications (MTC), to the private sector, where she currently operates from the consulting firm DOT S.A.C. This type of career path generates institutional knowledge that is valuable for international funds seeking to understand project adjudication, regulation, and execution processes in Peru.

The ability of professionals like Lazarte to translate public sector logic into the requirements of private institutional capital constitutes a strategic asset in a market where the gap between the pipeline of programmed projects and their effective execution remains one of the primary challenges.

Two markets, one institutional capital logic

A combined reading of the profiles analyzed reveals a structural trend in Latin America: the professionalization of contact points between institutional capital and national regulatory frameworks. In Mexico, the combination of record FDI, the USMCA review, and new development poles creates a scenario where the ability to engage with the Ministry of Economy becomes a competitive advantage. In Peru, the convergence of record public investment, new procurement legislation, and infrastructure megaprojects requires investors to understand the decision chain running from the DGPMI to Ositrán.

For GRI Institute members operating cross-border strategies, these profiles represent the information and decision nodes where capital allocation to real assets is determined. The ability to identify, understand, and engage with these actors distinguishes investors who capture early opportunities from those who arrive after spreads have already compressed.

Tracking these indicators and profiles is part of the ongoing analysis that GRI Institute provides to its community of real estate and infrastructure leaders in Latin America.