New Special Economic Zone in Peru: A Logistics Hub Between Callao and Chancay to Boost Investment and Technological Growth
Javier Fernández
11/1/20243 min read
New Special Economic Zone in Peru: A Logistics Hub Between Callao and Chancay to Boost Investment and Technological Growth
The government of Peru has announced the creation of a Special Economic Zone (SEZ) between the ports of Callao and Chancay, located in the northern region of Lima. This initiative is part of an effort to establish Peru as a regional logistics hub, attracting strategic investments and promoting technological innovation and job creation in high-tech sectors.
What is a Special Economic Zone (SEZ)?
Special Economic Zones (SEZs) are designated areas with special fiscal, regulatory, and operational benefits aimed at attracting both foreign and domestic investment. These zones often provide tax incentives and administrative facilities, creating a business-friendly environment that encourages the establishment of high-tech industries, infrastructure development, and job creation. SEZs are designed to integrate the country into the global economy, fostering exports and building international trade connections.
Objectives of the SEZ Between Callao and Chancay
The SEZ between Callao and Chancay is designed to leverage the development of a new logistics hub along the Peruvian coast. Strategically connected to markets in Asia and North America, this SEZ aims to create an environment offering:
Attraction for High-Tech Industries: The zone will be oriented towards technology-sector companies that will benefit from a favorable regulatory framework and tax incentives. This focus is intended to encourage the arrival of companies that can contribute to the country’s innovation and technological advancement.
Creation of Quality Jobs: In addition to driving local employment, the SEZ will offer opportunities in high-value sectors, promoting the development of technical and professional skills for the Peruvian workforce.
Competitive Tax Structure: One of the key benefits of SEZs is the potential for a differentiated and competitive tax scheme. This fiscal framework is designed to attract companies seeking higher profitability in their operations and a favorable environment for expansion.
Callao and Chancay: Strategic Ports in International Trade
The ports of Callao and Chancay were selected as strategic nodes for this SEZ due to their location and capacity to connect Peru with major international trade routes. The port of Callao is the largest and most active in the country, while the port of Chancay, currently under development, is projected to be a connectivity hub with the Asian market, with China being one of Peru's main trade partners.
These ports provide efficient access to other markets in Latin America and Asia, making them ideal entry points for exports and imports of manufactured goods, raw materials, and technology.
Benefits for Investors in the Callao-Chancay SEZ
For investors, this SEZ offers a combination of competitive advantages, including:
Reduced logistics and transportation costs, thanks to the proximity to ports and infrastructure that facilitates the movement of goods.
Tax incentives and streamlined processes that reduce regulatory barriers and accelerate the establishment of new companies in the area.
Connection to a growing regional market, taking advantage of proximity to major consumer centers in Latin America and direct access to international markets.
Future Prospects
The creation of the SEZ between Callao and Chancay positions Peru as an important center for logistics and trade in the region. This project is a bid to transform the local economy, attract strategic investments, and create a dynamic and favorable environment for the development of advanced technologies.
In the coming years, this zone is expected to continue attracting high-tech companies and foreign direct investment, consolidating Peru's vision as a regional leader in innovation and logistics in South America.
Conclusion
The new SEZ between Callao and Chancay represents a unique opportunity for both local and international investors. With an attractive tax framework, direct access to global markets, and expanding infrastructure, this zone aims to contribute to Peru's economic and technological growth, establishing the country as a prominent investment hub in the region.