Chinese shipping firm Cosco Shipping has urged the United States to invest in Peruvian ports rather than raise sovereignty concerns over the Chancay megaport.
Speaking at the ExpoMina 2026 industry conference in Peru, Jose Ignacio de Romana, director of Cosco Shipping Ports Chancay Peru, said Washington should practice its professed free market principles by promoting private investment in South America.
De Romana stated that rather than being frightened by Chinese backing for the Chancay port, the United States should invest in the proposed port of Corio in southern Peru. He called on Peruvian authorities to offer tax incentives and administrative facilities to attract more American companies to the country.
The executive emphasized that South America should not be viewed as an arena of dispute between Washington and Beijing. Instead, he framed the region as an economic opportunity where both superpowers can participate in regional growth.
Investment and Regional Infrastructure
Cosco Shipping Ports is a major terminal operator based in Shanghai and owned by state enterprise China COSCO Shipping Corporation. The Chancay megaport project, located on the Pacific coast north of Lima, is designed to serve as a deep-water commercial hub connecting South American trade directly with Asian markets.
The proposed alternative project, the port of Corio in the Arequipa region, has been highlighted by regional leaders as another potential maritime terminal for southern Peru. De Romana argued that American private capital could help develop such facilities, creating healthier economic competition.
Economic Opportunity and Migration
De Romana also connected economic revitalisation directly to migration issues, calling job creation the most effective tool to address population movement. He noted that the United States faces severe immigration challenges because people leave their homelands when they lack work, healthcare, and security.
He argued that South America possesses all the necessary elements to develop, provided investment arrives to build opportunities that allow families to remain in their home nations.
National Sovereignty and Port Oversight
Addressing persistent criticisms from Washington regarding potential losses of state authority, De Romana firmly rejected claims that Chinese involvement at Chancay undermines Peruvian sovereignty. He asserted that Peruvian government institutions retain full operational control and statutory authority within the terminal.
According to De Romana, essential state services operate continuously inside the complex. These include the National Police, the Port Captaincy maritime authority, the National Port Authority, the National Agricultural Health Service, and the National Forest and Wildlife Service.
