The private sector has an important role to play in development. I don't think that's in dispute. I reviewed the testimony of the people who testified at this committee before me, and I don't see any dispute about that factor. The question is how, and under what conditions.
As I said in my comments, I don't think conditions exist in countries such as Peru and the other countries you mentioned to ensure that extractive investment by multinational companies would lead to positive developmental outcomes. I'm talking about public institutions, policies, and processes that can provide effective oversight of those corporations, and can use the wealth that's generated by those companies to respond to their citizens' needs. That's not happening, and I don't see it happening in the short term.