Prumo Logística attends event at the Japanese Chamber of Commerce and Industry of Brazil - Porto do Açu

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Prumo Logística attends event at the Japanese Chamber of Commerce and Industry of Brazil

Prumo Chief Executive Officer, José Magela, participated in an event at the Japanese Chamber of Commerce and Industry of Brazil, in São Paulo, attended by nearly 120 officials of large Japanese corporations this Friday.

Prumo Chief Executive Officer, José Magela, participated in an event at the Japanese Chamber of Commerce and Industry of Brazil, in São Paulo, attended by nearly 120 officials of large Japanese corporations this Friday.

Prumo presented the investment opportunities and available infrastructure in the Port of Açu, in Rio de Janeiro State. Açu is the location of the first privately-managed Export Processing Zone (ZPE) being developed in the Southeast region of Brazil. Created in 2017 by a decree signed by President Michel Temer, the ZPE is located on 2 km² and is expected to start operations in 2019.

The meeting sought to expand business possibilities in the port, given the advantages offered by a ZPE, including free trade zones, focus on the export market and distinguished tax, FX and administrative regimes. Its location on the Northern part of Rio de Janeiro State is especially advantageous for industries involved in petrochemicals, metal-mechanics, mining, agribusiness and ornamental rocks.

“The Port of Açu provides excellent advantages for companies that wish to set up facilities there. In addition to its strategic location in the Southeast and near the country’s main crude oil fields, Açu is already operating and has an area where plants can be installed immediately. The development of the Açu ZPE creates many business opportunities in international markets,” said Magela.

Deputy Secretary of Economic Development Paulo Renato Marques also discussed business opportunities in Rio de Janeiro State.

Competitive advantages

Companies operating inside ZPEs enjoy several tax benefits, such as exemption from IPI, COFINS, PIS/PASEP and ICMS on purchases of goods and services in the internal and external markets. FX freedom is another competitive factor, as companies may keep abroad 100% of revenues earned through exports.

ZPEs are exempt from licenses and authorizations granted by federal authorities, enjoy legal security for up to 20 years (extendable for another 20 years). As a custom-ready facility, the ZPE is recognized as a Primary Export Zone.