Intesa Sanpaolo supports revitalisation of maritime economy with €5 bln
Intesa Sanpaolo is supporting the revitalisation of the maritime economy with a new plan to develop the Special Economic Zones (SEZ) established in southern Italy and the Simplified Logistics Zones (SLZ) under construction in north-central Italy, involving:
- €5 billion dedicated to production facilities and infrastructure upgrade work
- an international roadshow to attract capital from abroad
- a programme of reshoring activities
and, for companies that invest in SEZs and SLZs, the bank has announced an ad hoc soft-rate credit line.
These zones are potentially strategic for the growth of the maritime economy and their purpose is to create synergies between the port-logistics system and the manufacturing sector in order to drive new investments through fiscal and administrative incentives.
“Intesa Sanpaolo has taken on the role of economic development driver of the Special Economic Zones and Simplified Logistics Zones, a role that we play in all the activities through which Italian companies express their distinctive know-how and ability to innovate.”
“While the Mediterranean accounts for only 1% of the earth’s seas, 20% of the world’s maritime traffic and 27% of container shipping lines pass through it.”
“Amidst an evolving, yet not declining, globalisation, large regional systems tend to consolidate, including the Mediterranean, which is already particularly well developed, with strong prospects for further growth."
Gian Maria Gros-Pietro, Chairman of Intesa Sanpaolo.
According to an analysis by Srm – research centre linked to Intesa Sanpaolo:
- free-trade zones are seeing growth of up to 4% in exports and an increase in container traffic that could reach 8.4%
- the role of the Mediterranean is strategic: it accounts for 20% of global maritime traffic and handles 27% of container trade routes
- this area will continue to grow in 2021-2026, becoming the second largest in the world (after China) with the highest growth rates in port traffic.
In addition, the international economic situation is accelerating the process of "regionalisation of globalisation" in the Mediterranean, leading to an increase in maritime traffic limited to specific areas with short to medium-haul routes: an opportunity for Italy, which in this area is the leader in short sea shipping with 244 million tonnes handled and a market share of 38%.
Intesa Sanpaolo has been actively involved in promoting southern SEZs since 2017: it had already made available initial funds of €1.5 billion – to which a further €5 billion is now being added – organised specific missions abroad to engage international investors and set up a specialised desk for entrepreneurs. It has also signed cooperation agreements with the Port Authorities (Puglia, Trieste and Venice) and with the Extraordinary Commissioners of the SEZs (Campania, Sicily and Abruzzo).
Last updated 14 November 2022 at 10:35:39