Peru eyes more Chinese investment after Chancay Port boost

A Peruvian diplomat said on Friday that one year after the inauguration of Chancay Port, north of Lima, the South American nation is seeking further Chinese investment to support its development and deliver greater benefits to its people.

Gonzalo Talavera, charge d'affaires ad interim of the Embassy of Peru in China, made the remarks in Beijing while presenting investment opportunities to Chinese companies in sectors including infrastructure, energy and public well-being.

Friday marks the first anniversary of the official opening of the Chancay deep-water megaport, a landmark Belt and Road Initiative project jointly developed by China and Peru.

Talavera said the port, now a major hub and Pacific gateway for Latin America, has significantly boosted trade between China and Peru, as well as the wider South American region, by reducing maritime transport times.

According to Peru's Customs authority, in the first nine months of this year, Chancay Port recorded export trade worth $603 million and import trade worth $984 million, generating about $207 million in tax revenue and providing strong support for regional economic development.

"Now, even from an inland city like Chongqing, goods can be sent by rail to Shanghai and then shipped directly to Chancay Port," he said.

He added that the port's operation has strengthened connectivity between China and Peru's neighboring landlocked countries and lowered logistics costs for other South American nations with ports.

Highlighting China's global leadership in areas such as railway construction and solar energy, Talavera said Peru welcomes more Chinese enterprises to invest and share their expertise in efficiency, innovation and technology.

"We consider China a reliable partner," he said, adding that increased Chinese investment in Peru will not only benefit the companies involved but also drive Peru's broader socioeconomic development.