Specialists analyze the future of the Manaus Free Trade Zone

Manaus Free Zone

The Federation of Industries of the State of Amazonas (FIEAM) and Suframa show EM TEMPO their economic data and analysis, and talk about tax reform

Manaus (AM) – Local economists and associated bodies see the Manaus Free Trade Zone in a positive and stable scenario, and reiterate its economic power at the national level, even in the face of discussions by the Executive Branch on tax reform, speculations about the new name for superintendent of Suframa, and the big tech crisis around the world.

In a publication on the official portal of the Superintendency of the Manaus Free Trade Zone, it was stated that the Industrial Pole of Manaus (PIM) recorded revenues of 161.5 billion reais and 31.56 billion dollars, in the period from January to November 2022, indicating growth of 13.55% in dollar, and 7.97% in real, in relation to the previous month.

Professor at the State University of Amazonas (UEA), and Coordinator of the Macroeconomic Observatory of Amazonas, Felippe Rocha, comments on this billing.

“ZFM accumulated revenues of approximately BRL 161 billion. In 2023, data from the Brazilian economy, which already showed signs of deceleration since the second half of 2022, indicate that consumer demand will be more timid, even with the improvement in employability, as many are excessively indebted,”

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In an official publication, interim superintendent Ana Maria Souza states that revenues of R$ 161.5 billion represent a new PIM record, and that, in addition, the evolution of employability rates throughout the second half of the year also deserves be highlighted. Antônio Silva, president of the Federation of Industries of the State of Amazonas (FIEAM), shows a positive scenario for the inclusion of new companies in the ZFM.

“It is natural that we have new companies, it is part of the market dynamics. On average, between 150 and 200 projects are presented annually, with an implementation period of 3 years. In evaluating the indicators, around 20% of these projects are effectively implemented in the first year. In raw numbers, there are approximately 30 new ventures”,

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Michele Aracaty, economist and Professor of Economics at UFAM, talks about discussions on tax reform, which threatens the integrity of PIM’s businesses.

“I think that our representatives must be lucid in seeking an agreement that guarantees the competitiveness of the model, focusing on comparative and competitive advantages, since the economic weight is relevant not only for Amazonas, but also for the country. I draw attention to a tax reform proposal that is capable of encouraging new investments, is preservationist, modern, intelligent and that contributes to reducing regional socioeconomic vulnerabilities”

emphasizes Michele Aracaty.

In a note, Suframa’s advisory team reiterated to EM TEMPO the objective of operating and managing the federal policy for the development of the Western Amazon, which has its dynamic and virtuous center in the Industrial Pole of Manaus (PIM), and whose term of validity of the model’s incentives is guaranteed until 2073. The president of FIEAM also commented on the security of local incentives.

“We have the constitutional guarantee of a specific treatment for the model that guarantees the competitiveness of the local industry, which, in our opinion, must be respected in the tax reform. Although the proposals under discussion do not contemplate the model in its entirety, we are working with the federal caucus and the state and federal governments so that the PIM maintains its comparative advantages within the new systematic proposal”,

Antônio Silva, president of the Federation of Industries of the State of Amazonas (FIEAM).

Felippe Rocha commented on the special secretariat of the Ministry of Finance, which made it clear that it is open to dialogue to maintain the state’s economic security, and brings a proposal for a solution for the reform.

“I think this is the right time for economists from the region, together with deputies, to come up with an alternative proposal, with a VAT (Value Added Tax) that allows for a price reduction shock in the country, together with deputies, to come up with an alternative proposal, with a VAT that valid for all of Brazil, and a special, lower VAT, which is valid only for Amazonas, maintaining the tax differential. In this way, everyone wins, the Amazon and the whole society”.

Felipe Rocha