The completion of the $3.5 billion Chancay mega-port in Peru, scheduled for 2024, promises to enhance Vietnam’s import-export and logistics operations, particularly with Latin American markets. Strategically located along Peru’s Pacific coast, the port is set to strengthen maritime links, enabling faster and more cost-efficient shipping. This development is expected to improve trade for Vietnam’s agriculture, industrial goods, and energy sectors. As the port enhances connectivity between Asia and Latin America, trade between Vietnam and the region could rise by up to 10% annually, offering new opportunities for Vietnamese businesses to expand their market reach. The new port is anticipated to reduce shipping times by up to 50%, slashing logistics costs, thereby benefiting industries such as textiles, electronics, and agriculture.
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