Chancay: special economic zone still adrift

In August 2023, former Minister of Economy and Finance Alex Contreras assured that the Peruvian Government would promote the creation of a special economic zone (ZEE) for Chancay in no more than seven months, in view of the development of a megaport that will consolidate trade relations. with China.

However, a few days before the agreed date, there is still no clarity on the date on which the ninth SEZ would be announced in our country. Time is of the essence, since in nine months the first stage of the terminal will be delivered with the arrival of Chinese President Xi Jinping for its inauguration at APEC 2024.

A SEZ creates a special tax regime that allows the arrival of large technology companies to transform raw materials before export. It is a model already used in other markets, such as Mexico and Colombia, for the production of medical equipment.

Diatribes in the MEF

In Peru, there are currently four special economic zones in operation: Zofratacna (Tacna), Zed Paita (Piura), Zed Ilo (Moquegua) and Zed Matarani (Arequipa).

In one of his last appearances as head of the MEF, Contreras said in January that his portfolio was developing together with the Inter-American Development Bank (IDB) a “new model that collects the best experiences in the world.”

The Executive’s initiative is developed alongside Bill 293, by Congressman Eduardo Salhuana, which aims to establish a single regime for the creation and operation of SEZs in order to attract and promote national and foreign investment.

Precisely, the day before, the legislator from Alliance for Progress organized a symposium to compare the virtues of both proposals with the presence of the ministers of Foreign Trade, Juan Carlos Mathews, and of Transportation and Communications, Raúl Pérez-Reyes, in addition to the Vice Minister of Economy, Luis Pichihua.

“The SEZ will become a central axis for our growth. We must take advantage of synergies and promote cabotage [otro proyecto de ley pendiente] of a port of this magnitude, as well as the coastal, mountain and jungle logistics corridors,” said the head of Mincetur.

For his part, Minister Pérez-Reyes announced that the new model for the SEZs contemplates that a private operator be in charge of their administration, a proposal similar to that launched by the National Society of Industries (SNI).

And although 0% VAT and ISC exemptions are being evaluated for the development of industries in these SEZs, including Chancay, some level of income tax will always have to be paid, as required by the OECD guidelines, when that Peru aspires to. An axis is expected between the industrial zone of Chancay, the Ancón Industrial Park, the Callao Shipyard, and the Bicentennial City.

However, there is unrest among the regional authorities of Chancay and some representatives of the private company that develops the port, who do not welcome the fact that the Executive and Congress do not agree on the implementation date.

Reaction

Juan Carlos Mathews, Minister of Mincetur

“There are countries where the residue of one industry is the input of another, and a virtuous circle is then established that is installed in the special economic zones.”

Raúl Pérez-Reyes, Minister of Transport

“The regime we create must not only have the customs-tax component, but also resolve logistical problems with temporary exception regimes for competitiveness.”