Peru's president met with Chinese electric vehicle maker BYD on Wednesday, inviting executives to set up shop on the Andean nation's Pacific coast where another Chinese firm is building a massive port to facilitate trade between the two countries.
President Dina Boluarte told the executives that if BYD were
to build a auto assembly plant in Peru, it would benefit from the Chancay port
under construction by Cosco Shipping Ports, set to open in November, according
to a government statement.
The president noted the government will build an industrial
park either in Chancay or in Arequipa, some 620 miles (1,000 km) to the south
just off the Pacific coast.
“In either of those places, that’s where the vehicle
assembly industry could be setting up,” said Boluarte.
China has become the largest investor in Peru in recent
years, and is the top buyer of the nation’s copper.
“Instead of bringing copper and lithium from Peru, they
should come to Peru to set up their assembly industry,” she said, adding that
the government would offer zero tariffs to encourage more local investment.
Peru is also weighing an agreement with China to replace the
nation’s public transportation with electric models in the next three to four
years, according to the statement.