The newly operational China-funded Chancay Megaport in Lima, Peru, is rapidly transforming this once-sleepy fishing town into Peru's premier hub for Chinese imports, with local entrepreneurs already reaping the benefits of streamlined trade routes along the Pacific.
The megaport, with a 1.3 billion U.S. dollar investment, is located 80 kilometers north of Lima. Along the town's bustling main boulevard, shops brimming with competitively priced Chinese goods, from plush toys to stainless steel flasks, testify to the port's immediate economic impact.
The deepwater facility, inaugurated last December by Chinese and Peruvian leaders, has sharply slashed cross-Pacific shipping times, creating unprecedented opportunities for small businesses.
Jennifer Chero, a local entrepreneur, exemplifies this transformation.
"What has helped a lot with the megaport is the reduction of the transit time. Before it took 40 days, now in 16 days my products are arriving. There is much more flow and we can import in small quantities," said Chero, noting that a modest starting capital of a few hundred dollars suffices to launch import ventures.
The port's location gives Chancay residents, such as Chero, a strategic edge.
"All my merchandise arrives at Chancay and from here I start to send the products to any point in the country. That's the advantage we have now with the megaport," she said.
Plaza Home was one of the first shops to begin importing Chinese goods three years ago.
"The attraction of Chinese products is that they are more affordable, cheaper. That's what brings the customers, at least the people here in Chancay, who prefer to save their money," Juan Pariamachi, content creator of Plaza Home.
While big businesses are flocking to Chancay, the town's chamber of commerce is aiming to help local people benefit from the windfall.
"We are helping the small, unregulated businesses to become formal and pay their taxes with training program called 'Import is easy' because we want a closer connection with the megaport and more commerce between Chancay and China," Silvia Martinez, Chancay chamber of commerce.
More people in Chancay are finding importing is easier than it looks. As the port transforms the town, they're finding that it could also transform their fortunes.
As container ships dock at the ultra-modern facility, Chancay's transformation from a provincial town to a commercial gateway highlights how Belt and Road infrastructure projects can generate localized economic benefits.
Chinese-funded Chancay Megaport revitalizes Peruvian coastal town's economy
