This business summit is happening on the eve of the eighth Summit of the Americas to be held in Lima on Friday and Saturday.
Vizcarra recognized that the frequency of corruption cases has seen people lose all trust in authorities, creating damage to governance and the economy.
"Our citizens have demanded actions to face these circumstances," he said, adding that Latin America must take an active role in ending practises such as bribery.
Instead of their personal enrichment, Vizcarra called on those in power to put the interests of their countries first.
According to the Peruvian president, the private sector is an engine for economic development and called on entrepreneurs in joining governments in the fight against corruption.
He recalled the commitment to the fight against corruption made at the first Summit of the Americas in Miami in 1994.
To follow this, this business summit will see a productive dialogue between the public and private sector to analyze challenges and opportunities in the region.
Vizcarra said these included achieving sustainable development, inclusive and quality growth, helping small and medium enterprises (SMEs), and showing a culture of regional integrity.
The Business Summit of the Americas has gathered over 1,200 businessmen from across the continent and will conclude on Friday. It will provide recommendations to the heads of state and government participating in the Summit of the Americas.