INVITALIA: the gateway for foreign investors in Italy

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1 Agenzia nazionale per l attrazione degli investimenti e lo sviluppo d impresa SpA INVITALIA: the gateway for foreign investors in Italy Foreign Investment Commission 58 th UIA Congress in Florence, 30 th October 2014

2 Italy attracts far less FDI than other large EU countries INWARD INVESTMENT STOCK EUROPE (mln dollars- 2013) GLOBAL FDI FLOW IN ITALY IN THE LAST 13 YEARS UK Francia Belgium Germany Switzerland Spain The Netherlands Italy Sweden Ireland Poland , ,06 19,42 20,13 23,29 20, ,51 13,38 14,87 9, , , Value in billion dollars Source: UNCTAD, World Investment Report, 2014 Ranking ,58 43,85 15 Source: Unctad, World Investment Report, 2014 Italy represents 1,6% of the global FDI stock (ranks eighth in Europe and seventieth in the world).

3 A great potential to value Innovative clusters Italy ranks 2 in the world for productive innovation-oriented clusters Stable social framework Fair relationship between the social partners Manufacturing industry Despite the crisis, Italy is the 5 manufacturing economy Worldwide and the 2 in Europe Value chain Italy produces high-quality goods with export-oriented companies present along all the value chain (12 ) Market size Italy is the 10 largest market in the world, with significant economies of scale Cultural heritage First worldwide for Unesco World Heritage sites International dimension Italy ranks 12 worldwide in FDI ranking by source and it is one of the world s 10 leading exporting nation with almost 500 billion euros of export Good positioning on sectors with high growth potential Fashion, home furnishings, capital goods, aerospace, robotics, pharma and bio-tech Nature of competitive advantage Italy ranks 11 worldwide per unique products Business culture More than 4 million entrepreneurs

4 On-going reform process to bolster investor confidence The Government is engaged in setting-up a new set of reforms with the view to facilitate foreign investors throughout their investments life cycle. Italy makes a come-back to the FDI confidence index for the first time since Regulatory certainty Timescale certainty Fiscal certainty Introducing nationwide standard procedures for any permits required. Adapting contractual rules to the specific feauture of each new investment Implement a consolidated text of Italian employment law. Reforming the Conference of services to speed-up the authorization processes Simplifying procedures for settling employment disputes Streamlining court proceedings Introducing tax agreements for investments above a certain threshold Introducing an Investors Desk at the Revenue Agency Reforming the provision governing the abuse of right 1 United States 2 China 3 Canada 4 United Kingdom 5 Brazil 6 Germany 7 India 8 Australia 9 Singapore 10 France 11 United Arab Emirates 12 Mexico 13 South Africa 14 Switzerland 15 Malaysia 16 Sweden 17 Chile 18 Spain 19 Japan 20 Italy 21 Belgium 22 Netherlands 23 Denmark 24 Turkey 25 Indonesia * Value calculated on a scale 1 to 3 Moved-up Moved down Stable Source: 2014 AT. Kearney, FDI Confidence Index

5 Invitalia mission Invitalia, the National Agency for Investment Promotion and Enterprise Development, operates on behalf of the Italian Government. Its aims are increasing the country s competitiveness, especially in the Southern regions and supporting strategic sectors for development.

6 Our services The service kit spans from updated information on the business environment to investment opportunities in specific sectors and business advisory services throughout the implementation process. Invitalia's services are tailor-made, free of charge and confidential. Pre-investment information Invitalia provides investors with preliminary information and strategic analysis apt to identify and select the best business opportunity Business set - up support Invitalia facilitates the business set-up process through the provision of operational services After care Invitalia offers companies already in Italy a spectrum of services for reinvestment and expansion (solution of administrative issues, expansion of existing facilities) Information services Support/advisory services

7 Incentives package: The development Contract The Development Contract is an Agreement between the Ministery of Economic Development, acting through Invitalia and the companies involved to implement investment projects in Italy. Industrial Minimum investment program: 20 mln Minimum of 7,5 /mln in case of agro food processing activities Turism Minimum investment program: 20 mln Energy Saving Minimum investment program: 20 mln Grant and soft loan to capital investment and to research and experimental development investment Leading multinationals have already benefited from the Development Contract: Rolls Royce, Unilever, Vodafone, Sasol, Denso

8 A purpose-built network dedicated to bringing foreign business to Italy Define investment packages Promote business opportunities Provide with investors tailored made services and facilitate the implantation process Italian Diplomatic network Italian Trade Commission Confindustria Foreign Italian Chamber of Commerce Foreign institutions, etc.. Regions and local IPAs Invitalia Business Network Institutional Partnership INVITALIA Provide opportunities to exchange information and know-how Organize qualified projects targeting the domestic and international business communities One stop shop

9 Business partnerhsips With the view to strenghten the promotional activities towards the target countries, Invitalia has set up a close cooperation with some leading mertchant banks worldwide. Channel multiplier BNL BNP Paribas Unicredit Bank of Tokyo Mitsubishi China Development Bank BankMuscat Share promotional activities Organize specific workshops and BtB Target countries United States Japan China Gulf Areas India Identify potential leads among their clients Invitalia also cooperates with numerous law firms both in terms of promotion activities and assistance for foreign companies in their implementation process

10 Contacts Philippe Tandeau de Marsac Inward Investment Invitalia Agenzia nazionale per l attrazione degli investimenti e lo sviluppo d impresa SpA Via Calabria, Roma ptandeaudemarsac@invitalia.it