03
Jan
2024
News

Mezzogiorno's 8 SEZs are merged into a single Special Economic Zone

Law no. 162 of November 2023 introduced into our legal system the Single Special Economic Zone ("SEZ") which - as of 1 January 2024 - will replace the 8 SEZs currently present on the southern territory, merging them into a single one.

Southern Italy, therefore, will become a single SEZ Area and investors intending to settle in this territory will have several advantages ranging from tax credit to the possibility of obtaining bureaucratic and customs benefits, as well as subsidies also offered by the individual Regions adhering to the new model.

In addition, it is worth remembering that the SEZ will have a strong connection with the port and logistics development of Southern Italy, being an initiative designed to accommodate import-export oriented companies which, therefore, have strong needs to move their goods to reach the reference/supply markets.

It is worth mentioning both the large SEZs in the Mediterranean, which have boosted the economy of some countries that make extensive use of them, and the cases of the large SEZs of the Arab Emirates and China, which with their tax incentives (zero taxes for many years for investors) have allowed large industrial groups to build settlements and, therefore, to create employment, port traffic growth, with significant increases in the import-export sector.

SRM, in some recent studies, has estimated that a SEZ can grow the annual average exports of a territory by up to an additional 4% and container port traffic by 8.4%; significant figures that could make an important contribution to our economy. In addition, these instruments are also considered strategic by the NRRP which has made available a sum of 630 million euro to develop the logistics, road and rail infrastructure of the territories included in the SEZs.

Read the full article published on the 'IMI Corporate & Investment Banking' website:
https://imi.intesasanpaolo.com/en/insights/focus/20231227_relaunch-of-the-SEZs-competitiveness-southern-italy/

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