The formalization of a Special Economic Zone (EEZ) on the periphery of the Chancay megaport would be ready in 2023, with tax incentives to reduce Income Tax (IR) at a rate of between 18% and 20% for a period of up to three years.
During the XX International Forum of Ports, organized by the Chamber of Commerce of Lima (CCL), the company Cosco Shipping Port Chancay SA, responsible for its construction, revealed that there are advanced conversations with the Ministry of Foreign Trade and Tourism (Mincetur), but that the initiative must still be aired in the Congress of the Republic.
A ZEE creates a special tax regime —similar to that of industries— that allows the arrival of big tech companies (Samsung, LG, Huawei, etc.) to transform the raw material before it is exported. It is a model already used in other markets, such as Mexico and Colombia, for the production of medical equipment.
“The idea is to create a regime that could be between 18% and 20%, aimed at bringing technology transfer companies. Then the general regime would be regulated,” he said. Carlos Tejadadeputy general manager of Cosco Shipping, in dialogue with La República.
A few months ago, neighbors reported that part of the Chancay Megaport project collapsed, leaving homes uninhabitable. Photo: diffusion
China: Sealed Conjunction
The Minister of Economy, Alex Contreras, had already advanced a strategy at the beginning of August that included not only the creation of this ZEE, but also the provision of resources for the Municipality of Chancay, whose budget, surprisingly, does not exceed S/7. millions.
“Years ago there was talk of the megaport of Chancay, but there was no comprehensive strategy. It will be the third largest port in the world and the first in Latin America”, he stressed.
During the conversation, the Chinese ambassador to Peru, Song Yang, stressed that the Peruvian megaport will become “Shanghai” on the west Pacific coast and will consolidate diplomatic and trade relations between the two countries.
“Chancay will top the charts with a loading and unloading capacity of 43.5 million TEUs, exceeding the combined capacity of the US ports Los Angeles, Long Beach, New York and Savannah, which total 29.6 million TEUs per year,” Yang said.
Cosco points out that in Congress a joint spirit is also cooking to move forward with the ZEE, to the point that there is a first draft that would also be submitted to the Executive. For this reason, it hopes that the declaration will come true before the first quarter of 2024.
Chancay Megaport: future heart of the Pacific
Cosco expects to resume work on the tunnel this month, halted by a collapse last May.
Otherwise, they could not have the work ready before its inauguration in October of next year, during the forum of APEC 2024. Construction on the rest of the megaport continues.
Mincetur has a project to string together the port activities of Cosco (Chancay), APM Terminals (Callao north) and DP World (Callao south) in a single commercial hub. The objective is to wrest from Mexico the stopovers currently made by Chilean, Colombian and Ecuadorian ships that go to Asia.
the mining company Volcano postponed until the end of August the separation of shares (40%) in the Chancay megaport.
reactions
Alex Contreras, Minister of Economy
“We have formulated a development strategy for a port hub that considers Callao, Ancón and Chancay. For this reason, we are now working on the creation of a ZEE”.
Song Yang, Chinese Ambassador
“The Belt and Road are giving wings to take off. As a key project between both countries, we have the Chancay megaportwhich will become the shanghai from peru”.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
