China's investment in the money key port in Peru has caused another controversy, and Peru wants to take back the port.
According to Lianhe Zaobao reports, the Peruvian Ministry of Transport recently announced that, according to the ruling of the National Association for the Protection of Competition and Intellectual Property of Peru, the Money Key Port "lacks sufficient competitiveness", so the department decided to intervene and control the usage fee of the Money Key Port.
Regarding this, the China COSCO Shipping Corporation, which is responsible for the Money Key Port project, said that it would "firmly fight" with legal weapons, and would initiate litigation procedures. They pointed out that the Peruvian National Port Authority had clearly recognized the competitive strength of the port, but within less than five months, Peru changed its tune.
In 2019, when the Money Key Port project was signed, the Peruvian government clearly gave COSCO exclusive operating rights for 30 years on paper. COSCO invested 1.3 billion US dollars (60% stake), trained thousands of local workers, and built surrounding hospitals. However, just as the port is about to be completed, the Peruvian Ministry of Transport suddenly used the excuse of "insufficient competitiveness" to control the usage fee.
In fact, this is not the first time that Peru has done something strange. Last January, the Peruvian National Port Authority suddenly filed a lawsuit to reclaim the operating rights, but later withdrew the lawsuit after negotiations.
Original article: https://www.toutiao.com/article/1829239101954060/
Disclaimer: This article only represents the author's personal views.