Rules and Incentives
Since the launch of the “Destinazione Italia” program, in 2013, the Italian Government has implemented a reforming action aimed at creating a favorable environment for foreign investors. Simplification of administrative procedures, strengthening of the banking system, and speeding up of the judicial system (through specialized courts dedicated to commercial litigations) are some of the main measures adopted, accompanied by a more flexible and adaptable labor legislation, the possibility of concluding preventive agreements with the tax administration, and tax incentives for investments in innovation.
At the institutional level, governance has been redefined by Decree n. 13, September 12, 2014 (so-called “Sblocca Italia”), whose Article 30 establishes the Foreign Investment Committee within the Ministry of Economic Development (MISE). The Committee shall coordinate all the activities aimed at attracting foreign investments, as well as promote the synergy between the various central and local administrations.
The “Sblocca Italia” Decree also attributed to the Italian Trade Agency (ICE) the operational tasks of supporting initiatives to promote investment opportunities and assisting foreign investors in Italy (in coordination with Invitalia). Therefore, ICE set up dedicated desks with the tasks of acquiring information on the existence of potential investors and on investment opportunities in the Italian market as well as following up on initial contacts with investors who expressed interest in investing in Italy.
The Government has therefore strengthened the operational tools available to foreign investors. In this framework, a special role is played by Cassa Depositi e Prestiti, which created a network of corporations and investment funds that represent potential partners for foreign operators who want to start medium-long term investments in sectors of significant national interest: infrastructures, transport, networks, telecommunications and energy, as well as medium-sized Italian companies with high growth potential.