Capítulo I Presentación

TranslationInto EnglishMISSION“Facilitate access to housing, primarily among families withlower income, through concerted management between theState and the real estate and financial sectors.”VISION“To be a reference point in the solution of housing needs,developing the real estate and financial markets.”GENERAL AND SPECIFIC STRATEGICOBJECTIVES AND STRATEGIESThe general and specific objectives of Fondo MIVIVIENDAS.A. set forth below are aligned with all the objectives of theNational Fund for the Financing of State Business Activity(FONAFE) defined in its 2009-2013 Institutional StrategicPlan, and the following objectives: (1) Promote the access ofthe population to adequate housing, especially in middle- andlower-class sectors; and (2) Build the institutional capacitiesof the Ministry of Housing, Construction and Land Titling andthe coordination between the national bureaus, the entitiesof the sector and the sub-national governments of thehousing sector, set forth as part of the 2008-2015 Multi-Annual Sectorial Strategic Plan (PESEM).The following are the objectives of Fondo MIVIVIENDA S.A.General Objectives6. Contribute to the decentralized development of themortgage market, positioning us as an efficient andeffective public-sector company to meet the housingneeds of the low-income population.7. Consolidate the participation of Fondo MIVIVIENDAS.A. nationwide in the creation of real estate supplythrough an integrated management with the privatefinancial and real estate sectors, in accordance with thepopulation’s needs.8. Achieve the sustainability of Fondo MIVIVIENDA S.A.and generate value through an efficient financialmanagement.9. Optimize the operating efficiency of our processes andcontribute to the standardization of the constructionand real estate sectors.10. Strengthen the growth and business learning of FMVS.A., ensuring a highly motivated and competent humancapital that identifies with the institution.MACROECONOMIC OVERVIEW• Re a l SectorIn 2010, Peru continued with the strong economicperformance that made it one of the few countries withpositive growth in 2009, despite the international economiccrisis which began in mid-2008. Peru increased its GrossDomestic Product (GDP) for the twelfth consecutive year,reaching an overall rate of 8.8% and consolidating its positionas one of the most dynamic economies in Latin America.This result was due fundamentally to non-primary activities(10.3%) and the expansion of internal demand (12.5%),supported by increased private spending on consumptionand investment.In an itemized analysis of the production sectors, it may beobserved that both primary and non-primary activities grewduring 2010. First place was occupied by the constructionsector, with 17.4%, followed by manufacturing (13.6%),trade (9.7%) and other services (8.0%).• Fis c a l SectorAccording to the preliminary results gathered in the inflationreport as of December 2010, the economic results of thenon-financial public sector as a percentage of the GDP at theclose of the year was negative, at -0.9%.As may be observed in the graph below, this indicator waspositive from 2006 to 2008. The panorama changed in2009, during which the countercyclical role played by theMemoria Institucional 2010129