Zes 2.0 to invest 60 billion in the South

A ZES 2.0 Strategic Plan to strengthen the Single Special Economic Zone model. Confindustria and Intesa Sanpaolo have launched this new initiative, with the bank making available a further 60 billion in resources earmarked for the development of the ZES on a national scale. ‘The Single Special Economic Zone is proving that when bureaucracy and uncertainty are reduced, investment follows: against a public investment of 5.5 billion, 59 billion in investment and 71,000 new jobs have been generated. The aim of the work that Confindustria is carrying out with Intesa Sanpaolo is to transform a simplification measure into a permanent driver of national competitiveness. This measure needs to be extended to the whole of Italia as regards the bureaucratic aspect: bureaucracy is stifling the country and costs 80 billion a year. ‘What matters to the North is legal certainty and predictable timelines, whilst continuing to push for tax relief measures and whatever else is needed to help the South grow and bridge the gap,’ said Confindustria President Emanuele Orsini in Bari at the project’s launch.

“We are convinced of the effectiveness of the ZES as a strategic lever for growth in Southern Italy and across the country. The allocation of 60 billion complements the administrative simplification – the winning formula of this instrument – which is also vital for businesses in Northern Italia. SEZ 2.0 is an extension of the previous scheme; we have believed in it from the outset, with targeted initiatives and funding of over 12 billion. We have decided to make 60 billion available in view of the demand and the potential for national expansion. “We are relaunching the ZES 2.0 project thanks to our established relationship with Confindustria and the synergies we can develop with international partners,” said Stefano Barrese, Head of the Banca dei Territori Division at Intesa Sanpaolo. The bank has already disbursed over 28 billion in the southern regions since 2020.

The initiative is dedicated to infrastructure and energy modernisation projects, with a focus on attracting investment from companies in the North and from abroad. A roadshow will also be launched in Italia and abroad to encourage companies to set up operations in the South, and ad hoc funding is planned for those who invest within the Special Economic Zone (SEZ).

For Orsini, the ZES alone is not enough. We need to create the ‘enabling conditions’ for investment in the country. The priority is energy, ‘a key issue’. It is good that the debate on nuclear power has been reignited: ‘young people’s awareness of the issue has also grown; over 55 per cent are in favour’. There are 1,500 renewable energy licences to be implemented, he said. The energy mix is a positive development, but, added the president of Confindustria, we cannot do without gas as a buffer to ensure continuity of energy supply.

The Emissions Trading System is crucial. A decision on its reform is being taken in Europe today: ‘I have asked for it to be suspended. That regulation, as it stands, will force our country’s primary industrial production to shut down. We have managed to convince the Germans and the French; I believe that if the EU Commission fails to take this into account, it would be a grave act of short-sightedness. We need benchmarks that will make us competitive,” Orsini added. We need an industrial plan for the country and for Europe that has a three-year vision, Orsini insisted, citing the example of hyper-depreciation.