---Interview with H.E. Mr. Carlos Vasquez, Ambassador of the Republic of Peru to the People’s Republic of China
VICTWO: How would Your Excellency evaluate bilateral relations between the People’s Republic of China and the Republic of Peru?
AMBASSADOR: The relationship between Peru and China is at its strongest point in history. In 2026, our countries commemorate 55 years of diplomatic relations, built on mutual respect, trust, and shared development objectives. China is Peru’s principal trading partner and one of our most important sources of foreign investment.
Our bilateral trade is approaching US$50 billion annually, while China absorbs approximately 36% of Peru’s total exports. Since 1992, accumulated Chinese investment in Peru has exceeded US$35 billion, particularly in mining, energy, and infrastructure.
In 2024, President Dina Boluarte paid a State Visit to China, where she held meetings with President Xi Jinping and other senior Chinese leaders, reaffirming the commitment of both countries to further strengthen the Peru–China Comprehensive Strategic Partnership. Later that year, during President Xi Jinping’s State Visit to Peru in November 2024, both Heads of State jointly inaugurated the Port of Chancay, marking a historic milestone in our bilateral relationship and opening a new chapter in connectivity and economic integration between South America and Asia. The inauguration of the Port of Chancay in 2024 marked a historic milestone in our partnership. Together with the upgraded Peru–China Free Trade Agreement and the Joint Action Plan 2024–2029, it provides a comprehensive roadmap for cooperation in trade, investment, innovation, digital transformation, and sustainable development.
VICTWO: What makes Peru a good investment destination?
AMBASSADOR: Peru offers a unique combination of macroeconomic stability, legal certainty, openness to international trade, and abundant natural resources.
Our economy reached approximately US$320 billion in GDP in 2025 and grew by 3.4%, with growth expected to remain around 3% in 2026. Inflation stood at only 1.5%, the lowest in Latin America, extending more than 27 consecutive years of single-digit inflation.
Peru also maintains:
• Public debt of only 32.9% of GDP, among the lowest in the region.
• International reserves equivalent to 28% of GDP, the highest level in Latin America.
• Investment-grade ratings: BBB (Fitch), BBB- (S&P), and Baa1 (Moody’s).
In addition, Peru has trade agreements with more than 50 economies, providing access to markets representing nearly 80% of global GDP. For investors, Peru offers predictability, market access, and long-term growth opportunities.
Peru’s extensive network of trade agreements provides investors with privileged access to major international markets. Combined with macroeconomic stability, legal certainty, and strategic connectivity to the Asia-Pacific region, Peru offers an attractive platform for long-term investment and growth.
VICTWO: How has Chinese investment been doing in Peru?
AMBASSADOR: Chinese investment has become one of the main drivers of Peru’s economic development.
Today, approximately 200 Chinese companies operate in the country across strategic sectors such as mining, energy, infrastructure, logistics, telecommunications, and manufacturing.
Major Chinese enterprises, including COSCO Shipping, Chinalco, MMG, Shougang, Zijin Mining, China Three Gorges, China Southern Power Grid, and China Communications Construction Company, have established a significant presence in Peru.
The most visible example is the Port of Chancay, which involved an initial investment of approximately US$1.3 billion and is expected to become a major logistics, industrial, and technological hub for South America.
Chinese investment is increasingly diversified and moving beyond traditional sectors into logistics, digital infrastructure, renewable energy, and innovation.
VICTWO: Which sectors are the priority ones of Peru for attracting foreign investment?
AMBASSADOR: Peru welcomes investment across a wide range of sectors, but several areas currently present particularly attractive opportunities.
First, infrastructure. Peru continues to reduce its infrastructure gap of 100 billion USD dollars through major projects in transportation, railways, ports, airports, and urban development.
Second, mining. Peru is one of the world's leading producers of copper and possesses significant reserves of copper, gold, lithium, silver, zinc, and other critical minerals essential for the global energy transition.
Third, energy. Opportunities exist in renewable energy, transmission networks, green hydrogen, and energy storage.
Fourth, logistics and industrial development associated with the Chancay Port corridor.
Fifth, agribusiness, fisheries, and food processing. Peru offers significant opportunities in large-scale irrigation projects that expand agricultural land, while these sectors continue to strengthen their presence and access to Asian markets.
Finally, Peru is actively promoting investments in the digital economy, data centers, telecommunications, artificial intelligence, and advanced technologies.
VICTWO: Specifically, what potential or opportunity do our two countries have to further cooperate in innovation and technology?
AMBASSADOR: The potential is enormous.
The Peru–China Joint Action Plan 2024–2029 identifies science, technology, innovation, and digital transformation as priority areas for bilateral cooperation.
China is advancing ambitious technological objectives under its XV Five-Year Plan (2026–2030), prioritizing artificial intelligence, quantum computing, biotechnology, advanced manufacturing, 6G communications, and digital transformation.
Peru sees opportunities for collaboration in:
• Smart logistics linked to the Port of Chancay.
• Agricultural technology and food security.
• Renewable energy and green technologies.
• Scientific research and innovation ecosystems.
• Digital government and smart cities.
• Artificial intelligence and digital skills.
• Telecommunications and digital infrastructure.
Our objective is not only to attract technology but also to promote joint innovation, talent development, knowledge transfer, and technological entrepreneurship.
VICTWO: How does the government of Peru take measures to attract new investors?
AMBASSADOR: Peru maintains one of the most open investment regimes in Latin America.
Foreign investors receive national treatment, enjoy unrestricted capital mobility, and operate under a strong legal framework that guarantees legal stability and protection of investments.
Additionally, Peru has implemented several important measures:
• Establishment of private Special Economic Zones with competitive incentives and significant tax benefits.
• Modernization of the Peru–China Free Trade Agreement.
• Promotion of Public-Private Partnerships (PPPs).
• Development of strategic infrastructure projects.
• Expansion of government-to-government cooperation mechanisms.
The Chancay hub represents a particularly attractive opportunity. Combined with new Special Economic Zones, it is expected to become a platform for manufacturing, logistics, technology, and regional distribution across South America.
VICTWO: Last but not least, how about a little knowledge of culture and tourism in Peru?
AMBASSADOR: Peru is one of the world’s great cultural and tourism destinations.
We are home to extraordinary civilizations that flourished for thousands of years, culminating in the Inca civilization and iconic landmarks such as Machu Picchu, one of the New Seven Wonders of the World, much like the Great Wall is for China.
Visitors can experience remarkable diversity within a single country:
• The Pacific coast and vibrant cities.
• The Andes Mountains and living indigenous traditions.
• The Amazon rainforest, one of the planet’s richest biodiversity reserves.
Peru is also internationally recognized for its gastronomy. Our cuisine reflects the fusion of Indigenous, European, African, and Asian influences. In particular, the Chinese contribution gave rise to the famous “Chifa” tradition, which symbolizes the deep cultural connection between our peoples. It is estimated that nearly 10% of Peru’s population has some degree of Chinese ancestry, making the Chinese community one of the oldest and most influential in Latin America.
Today, Peru welcomes travelers with world-class cuisine, unique cultural heritage, extraordinary natural landscapes, and the warmth of its people. We invite our Chinese friends to discover Peru and experience firsthand a country of opportunity, diversity, and friendship.
