Italy is an attractive country from many points of view. It is the fourth-largest economy in Europe - the continent's second industrial power - and eighth in the world. It is an enterprising country, with a very rich industrial fabric and a vocation for exporting. It is also in an excellent geographical position, between Europe and Asia, and sees Spain as a base from which to supply the Iberian market and take on the markets of Central and South America.
One of the features of the country is the duality between north and south: Milan is the economic and business centre and Rome that of institutional events.
Rome also has the headquarters of state-owned companies and corporations in strategic sectors like energy, infrastructure and telecommunications. From the CaixaBank representation office in Milan we cover the whole country, travelling to the different industrial centres.
I have been living in Milan for 12 years and through my work I have had a very close relationship with the Spanish business community in Italy, and with Italian groups that work on the Spanish market. I have been able to find out at first hand about Italy's strong and weak points.
Among its strong points are a skilled workforce, its geographical position and the fact that it is a shop window to the rest of the world. Areas for improvement include excessive bureaucracy, administrative costs, employment costs and poor infrastructures in certain regions of the country which make communications difficult. This last point could be seen as an opportunity for Spanish firms, which have considerable expertise in this area.
Italy attracts a lot of foreign direct investment (FDI) and stands in fifteenth place among the biggest beneficiaries of FDI globally, ahead of France, Mexico, Spain or Japan.
Personally, I would emphasise the quality of its products - Made in Italy - in the fashion and agri-food industries. These two strategic sectors stand out for excellence. In September 2016, the government launched the National Industry 4.0 Plan to support businesses and boost private investment in R&D. This is alongside other state incentives to attract investment, not only in certain sectors but also in certain places.
The CaixaBank representation office offers all the support necessary for Spanish groups to be able to carry on investing and growing in Italy.
Our office is located in the centre of Milan, close to the head offices of the main banks, the Milan stock exchange and the branch of the Banca d’Italia.
The city, with its three airports, stands out as a conference centre and for its ability to attract major property investments. It is also a landmark in the fashion industry. Like the rest of Italy, it is an important tourist destination. All this makes Italy a highly attractive country in every way.
