Exports and Made in Italy are good, but structural measures are needed

According to Laura Castelli, Deputy Minister for the Economy and Finance, it is necessary to make structural interventions aimed at enhancing the value of Made in Italy and promoting exports.

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italy export

The conference 'Export and made in Italy: internationalisation as a tool for business development. Digitisation, innovation and sustainability for the relaunch of the South', organised by the National Council and the Naples Order of Chartered Accountants.

"In the first quarter, Italian export figures were 118 billion, higher than the 2019 record, so pre-pandemic. The road is marked out and the South is following it, with a growth of 3.8%: these are encouraging figures that must be consolidated," said Vincenzo Moretta, president of the Order of Chartered Accountants and Accounting Experts of Naples.

Among others, the event was attended by the Deputy Minister for the Economy and Finance, Laura Castelli, who said: " Few people believed that, as Italy, through exports, we would be able to give this important boost to the economy. Instead, we are winning this great challenge, thanks above all to the teamwork built around the Pact for Export, strongly supported by Minister Luigi Di Maio. The tools we have put in place, starting with the non-repayable incentives, which we have financed abundantly, are working. In the first months of 2021, exports reached pre-Covid levels and in some cases even exceeded them.

Measures to promote exports

The deputy minister stressed that a further step is needed to "make these measures structural, as they represent a stable building block on which we must, with strength, continue to build this project to enhance the value of Italian products and promote exports".

According to Castelli, there are a number of areas on which to focus in order to act efficiently on the business world: "Acquisitions and mergers, which today suffer from a lack of the right fiscal incentives; strengthening governance; re-shoring measures,bearing in mind that the first three reasons for relocation are reduced labour costs, flexibility in production capacity and a reduction in the cost of raw materials; and dimensional growth, which today is not supported by rapid, effective instruments, as is the case in other European countries".

These are issues on which, says the Deputy Minister, work is already underway: "We have already started working on the issue of dimensional growth during the management of the Covid emergency. With Sace, for example, we have done so for recapitalisation. With regard to re-shoring and tax incentives to encourage exports, there is an interesting proposal from the President of ICE, which aims to reduce taxable income generated abroad, following the US model. In a recovery phase, such as this post-pandemic one, this would be a great help to companies, especially in winning new market shares'.


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