On June 13, 2017, the event “Investing in Italy: a regulatory and institutional framework for foreign investment” was held at the Ministry of Foreign Affairs and International Cooperation. Co-organizers of the initiative, the Ministry of Foreign Affairs and International Cooperation, the Ministry of Economy and Finance, the Ministry of Economic Development and the Conference of Regions and Autonomous Provinces.
Opened by Foreign Affairs Minister Angelino Alfano and with the presence of Undersecretary Benedetto Della Vedova, the event was the occasion to present the government strategy to create a more favorable environment for businesses and make the country more attractive. Among the public, Ambassadors and diplomats from around 50 countries, representatives of multinationals operating in Italy, law firms and consultants, and officials from numerous local authorities.
Minister Alfano stressed that he has put economic diplomacy at the center of his mandate and recalled the main reasons for investing in Italy: access to markets of almost 800 million consumers, Italy is the third economy of the Eurozone and second Manufacturing economy in Europe. Those who invest in Italy acquire unique know-how in strategic areas such as machinery, automation, robotics, engineering, fashion, design, agro-food and green technology, where Italy is First in the EU for the mix of renewable energies used (above 17%). The Italian economy is heavily projected to export (in the G20, it is the country with the fifth largest manufacturing surplus), labor costs are among the lowest in the major European countries and the highly qualified workforce, with a University world linked to the main European research, development and innovation networks.
During the event it was recognized the importance of the Government’s efforts to initiate a systematic reorganization of the investment attraction sector for the first time, introducing also innovative operational tools: the Foreign Investment Observatory Committee, with the task of accompanying major foreign investment projects and to propose regulatory improvements, and the nine desk ICE for the attraction of investment, integrated into the diplomatic and consular network and ICE offices in the world.
During the morning was presented “The European House – Ambrosetti”, a multidimensional analytical model of the country’s attractiveness, and organized a panel of highly qualified (coordinated by the General Manager of the Country System Vincenzo De Luca) with representatives of the four organizing bodies, the Revenue Agency, Confindustria, ICE-Agency, FSI SGR SpA and foreign companies investing in Italy (Nuovo Pignone – G.E. Oil & Gas, Ramius-Linkem and Huawei)
The Managing Director of FSI SGR Tamagnini also outlined the mechanism of operation of the Italian Strategic Fund created by Cassa Depositi e Prestiti, one of the most important equity investment funds in Europe, which has the function of supporting the companies of excellence in the ” Made in Italy”.
The Vice President of Confindustria for Internationalization Mattioli took the opportunity to launch the Confindustria Foreign Investors Committee, which brings together the major multinationals operating in Italy, with the purpose of formulating guidance to the Government to improve the business environment.
Last but not least, the considerations of the representatives of the three foreign investors who stressed Italy’s strengths for the foreign entrepreneur: particularly skilled workers (“the best engineers of the General Electric Group are in Italy”), a scientifically developed network, an excellent relationship between productivity and production costs, excellent support from national and local institutions, a particularly open market (also in strategic sectors such as energy and telecommunications).
Widespread participation has shown considerable interest in the issue of attracting investment and widespread awareness that foreign capital is essential for the growth of the Italian economic and productive system.
From the following links can be downloaded the program of the initiative, the folding “Invest in Italy” (with the main reasons for investing in Italy and the adopted reforms) and the speaker’s presentations:
Speaker presentations:
The European House – Ambrosetti, FSI SGR S.p.a Nuovo Pignone – G.E. Oil & Gas, Ramius-Linkem, Agenzia delle Entrate, Huawei”
