The ICMS reduction will make navigation fuel (bunker) have, in Espírito Santo, the lowest price in Brazil, attracting more ships to the state.

With the aim of strengthening economic growth and increasing competitiveness in Espírito Santo, the state government proposes the creation of the State Law on the Free Gas Market and the reduction of ICMS on bunker fuel, if approved, ES will have the lowest price in the country, attracting more ships to the region. Another good news for the state, 5500 jobs for Espírito Santo between the construction and operation phases of the largest thermoelectric plant in Latin America and Petrocity port complex

Last Wednesday (19/08) the governor of Espírito Santo, Renato Casagrande, announced in a virtual event, the referral to the Legislative Assembly of two bills that aim to strengthen economic growth in Espírito Santo.

One of the projects deals with the creation of the State Law on the Free Gas Market; the other reduces the ICMS tax rate on navigation fuel from 17% to 12%. The objective is to strengthen economic growth and increase the state's competitiveness.

The president of the Industry Federation of Espírito Santo (Findes), Cris Samorini, participated in the online ceremony and highlighted the importance of the two projects. “The two projects strengthen the state's energy market. The New State Law for the Free Market of Gas and the Reduction of ICMS for fuel for navigation, the so-called Maritime Bunker, favor cabotage navigation and are also aligned with the federal project of BR do Mar”, highlighted Cris Samorini.

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Governor Renato Casagrande highlighted the importance of this initiative. “These are important projects, as we seek to make Espírito Santo competitive nationally and internationally. We do not have a fully adequate infrastructure that leads us to competitive logistics. Therefore, we have the need for investments in ports. We are debating the Codesa concession, anxious for the Port of Imetame to start and the other ports as well, which are all important to us. The dredging of the Port of Vitória was consolidated, it increased the capacity of the ships that enter, but we know that it has its limitations. Solving the issue of navigation oil, we can seek more quality and that we can consolidate ourselves in cabotage navigation”, pointed out Casagrande.

The Secretary of State for Finance, Rogelio Pegoretti, recalled that cabotage is a transport mode with great growth potential in Brazil and Espírito Santo. “Today, fuel represents, on average, 35% of the cost of a cabotage vessel's trip. Reducing the rate is an opportunity to make our products cheaper in other states and make the inputs arrive cheaper in Espírito Santo”, he commented.

“With that, the production and distribution chain in Espírito Santo wins. Agriculture, industry, the wholesale and logistics sector also gain. The reduction of the rate will make navigation fuel have, in Espírito Santo, the lowest price in Brazil”, added the finance secretary.