The ongoing construction of Chancay Port, a key Belt and Road Initiative (BRI) project, has become a transformative force for local economies and communities in Peru. Situated approximately 78 kilometers north of Lima, the port has provided thousands of jobs to local construction workers and significantly improved the living standards of their families. For many Peruvians, it exemplifies how international cooperation can drive sustainable economic development.
Luis Villanueva, Secretary General of the Federation of Workers in Civil Construction of Peru, praised the project’s impact, emphasizing its potential to serve as a model for further collaboration between Peru and China. “The construction of Chancay Port has created jobs for many construction workers and has improved their families’ living standards,” Villanueva told the Global Times. He expressed hope that the partnership between Peru and China would lead to more transformative projects in the future.
Once operational, Chancay Port is poised to become a vital shipping hub in the South Pacific, revolutionizing trade logistics for the region. The port will redistribute cargo from neighboring countries, including Chile, Ecuador, Colombia, Brazil, and Paraguay, streamlining trade routes and reducing costs.
The port’s strategic position and advanced infrastructure will also significantly enhance connectivity between Peru and China. Currently, sea freight between the two countries takes 35-40 days. With Chancay Port, that time will be slashed to just 23 days, reducing logistics costs by more than 20 percent.
José Arista Arbildo, Peru’s Minister of Economy and Finance, highlighted the transformative economic potential of the project. “Peru’s current economic growth rate is 3.2 percent, but with all the advantages that the Chancay Port creates, it could reach 5-7 percent,” Arista told Radio Nacional on Tuesday.
According to Peruvian economists, Chancay Port is projected to generate $4.5 billion in annual economic benefits for the country, equivalent to 1.8 percent of Peru’s GDP. This level of economic growth is unprecedented, with wide-reaching implications for employment, trade, and regional integration.
The port’s construction has brought much-needed employment to Peru, with 1,300 direct jobs and approximately 8,000 indirect jobs created so far. These positions have offered stability to countless Peruvian families and boosted local industries tied to construction and logistics.
Villanueva highlighted the human impact of the project, noting that it has provided meaningful opportunities for local workers. “Many construction workers in Peru have participated in the construction of Chancay Port, and the port will bring further opportunities for Peru,” he said.
For workers like Miguel López, a foreman at the construction site, the port has been a life-changing opportunity. “I’ve been able to provide better education for my children and improve our home,” López shared. “This project has brought not just jobs, but hope to our community.”
Chancay Port exemplifies the benefits of international collaboration, particularly under the framework of China’s Belt and Road Initiative. The BRI, launched in 2013, seeks to enhance global trade and infrastructure development by fostering partnerships across continents.
Villanueva noted that the BRI has not only driven Peru’s economic development but also facilitated technological exchanges and cultural understanding. “The initiative has driven the economic and social development of Peru, boosted technological exchanges, improved the living standards of local people, and paved the way for more cooperation between Peru and China in the future,” he said.
Villanueva praised China’s rapid economic transformation as a source of inspiration for Peru and Latin America. Reflecting on China’s trajectory, he highlighted the stark contrast between the country’s status in 1949 and its current position as a global leader in technological innovation and economic growth.
“China was a backward country in 1949, but it has now caught up with and even surpassed some developed countries in certain areas,” Villanueva said. “This reflects the advantage of China’s development model and its vast development potential.”
China’s approach to wealth creation, poverty alleviation, and equitable development offers valuable lessons for Peru. The country’s emphasis on sound planning, infrastructure investment, and inclusive growth has resonated with many socialists in Latin America, Villanueva added.
The completion of Chancay Port is just the beginning. The infrastructure will act as a catalyst for further investment and trade opportunities, reinforcing Peru’s role as a critical player in South American and Pacific trade.
The economic benefits extend beyond shipping and logistics. With the port as an anchor, Peru can attract new industries, improve its export competitiveness, and strengthen its economic ties with global markets.
For China, Chancay Port underscores the success of its Belt and Road Initiative in fostering win-win partnerships. By investing in critical infrastructure in Peru, China is not only advancing its own trade interests but also contributing to the sustainable development of its partners.
Villanueva expressed optimism about the potential for additional joint ventures between Peru and China. With Chancay Port as a proof of concept, similar infrastructure projects could follow, creating more jobs and driving economic growth in other parts of Peru.
The collaboration also has broader implications for Latin America. As regional countries observe the success of Peru-China projects, they may consider strengthening their ties with China through initiatives like the BRI.
