Executive announced next framework bill for the creation of Special Economic Zones

The Minister of Foreign Trade and Tourism, Juan Carlos Mathews, indicated that Mincetur, the Ministry of Economy and Finance (MEF) and the Ministry of Production (Produce) are developing a draft Framework Law to establish the necessary conditions for the creation of Special Economic Zones (ZEE), which allow the positioning of Peru as a destination for attracting investments.

“It is proposed that, in the face of any SEZ initiative, there be minimum technical conditions such as access to energy, water, electricity services, proximity to ports, connectivity and more, so that this allows the attraction of potential investment companies” Minister Mathews reported.

He offered this announcement during his presentation at the Symposium “Special Economic Zones in Peru: Reality and Perspectives.”

At the end of 2023, the SEZs recorded exports of US$ 74 million, and managed to generate more than 2,800 direct jobs. This figure, which represents 22% more than that registered in 2022, is the result of the promotion of investment and effort of the 153 companies installed in the SEZs of Piura, Tacna, Moquegua and Arequipa, which reflects the importance of the work articulated between the public and private sectors to promote national trade.

As detailed by the minister, shipments from the SEZs reached a total of 29 international markets, among which Ecuador, Colombia, Venezuela, the United States and China stand out. Likewise, they have entered new markets, such as Portugal, Paraguay, Sweden, Afghanistan, Serbia and Brazil.

“We have collected international experience and the significant contribution of SEZs in economies such as the Dominican Republic and Uruguay. In the case of the Dominican Republic, exports from these spaces contribute 70% of national exports, which represents 3.6% of GDP, and if we evaluate their impact with the demand they generate throughout the chain, it amounts to 7.6%. ”said the Minister.

The symposium, which was co-organized with the Transportation and Communications Commission of the Congress of the Republic, also had the participation of the Minister of Transportation and Communications, Raul Pérez Reyes, the vice minister of Economy, Juan Pichihua, and the vice minister of Foreign Trade , Teresa Mera.

SPECIAL ECONOMIC ZONES

As is known, Special Economic Zones are spaces that have special and flexible regulations on tax and customs matters that are different from the rest of the country, this provides benefits to national and foreign investors. To date, Peru has eight created by law, of which four are in operation.

The objective of the SEZs is to promote the development of national foreign trade through the reduction of logistical barriers, stimulation of the economy, generation of employment and the development of new technologies.

In this sense, it is important to highlight that during 2023, through Promperú, the incentives and benefits of SEZs were disseminated in eight national and international events, such as the Peru-Latam Expo, which took place in Brazil; Expomin 2023, in Chile; and the Perumin 36 mining convention.