(Funding Development from the ES State Port)

   The Espirito Santo State during these last 3 decades had known an accelerated and successful development process in the economical area. The State was initially started its growing based on the agricultural area (around 1950) but since 1980 the coming of many important industries and consulting companies has improved its growing.

   Many factors have contributed for this growing such as: special geographic localization, strategical position on international markets, an efficient road, railroad, port and airports systems, energy, water, industrial areas and communication services, economical environment propitious to support business and total institutional support from the Municipal Government and from the State. We also need to point out how the FUNDAP has collaborated on this economical development.

   The FUNDAP was specially created to allow produtives projects to industries located in Espirito Santo State, by the Government Law 2.508, regulated by Decree 163-N of July 15th, 1971.

• Advantages

   No payment of ICMS fee in the nationalization, term for the collecting of ICMS according to Espirito Santo legislation; No payment on administration taxes, coordination and execution on the import and export processes.

• Objectives

   To enlarge the income of the tertiary section of the State through the increment and diversification of the commercial exchange with the exterior. To enlarge the income of the primary and secondary sections of the State through the promotion of new investments on agricultural, industrial, fishing tourism, reforestation, service, health, social education, transport, no government infrastructure, construction, culture or commerce projects.

• Management

   The FUNDAP financial resources management is responsibility of BANDES (Development Bank of Espirito Santo State) and its budget is approved by the State Government.

• Dotation

   FUNDAP is constituted by financial resources which come from current dotations of Annual Budget Law from the State and additional credits added, transferences made by Entities of indirect Administration related to Portuaries activities which has its income increased due to financing according to the Law, amortization of the giving financing and from other sources defined by Decree of Executive Power.

• Fund Transferences

   The Secretary of Income Receiving will authorize BANESTES S/A – (Bank of Espirito Santo State) to transfer from the account of Espirito Santo State to FUNDAP the amount of the celebrated contracts by BANDES, according to the dotation consigned in the budget in vigency and their participations by suplementaries credits.

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