Itàlia: Invertir a Itàlia
According to UNCTAD’s World Investment Report 2023, FDI inflows towards Italy gained pace in 2022 and stood at USD 19.9 billion, after recording negative flows in the last couple of years. Meanwhile, the stock of FDI totalled USD 448.5 billion, around 22.3% of the country’s GDP. Data from the Bank of Italy shows that the majority of FDI stock is held by the Netherlands (23.7%), Luxembourg (17.7%), France (17.6%), Germany (9.2%), the UK (7.6%), and Switzerland (6.1%). In terms of sectors, manufacturing holds 29.1% of the total FDI stock, followed by professional, scientific and technical activities (15%), information and communication (10.9%), financial and insurance activities (9.8%), and wholesale and retail trade (8.8% - data OECD). According to the Europe Attractiveness Survey 2023 published by EY, the number of investment projects in Italy has more than doubled compared to the pre-COVID situation: in 2022, 243 FDI projects were announced, representing a 17% increase from one year earlier. As per the latest figures from OECD, in the first half of 2023 total investments in Italy stood at USD 10.8 billion, down from USD 18.6 billion in the same period the previous year.
Among the reasons to invest in Italy, is the fact that the country has one of the biggest markets in the EU, it has a diversified economy and a skilled workforce, it is one of the main manufacturing countries in the world and has good infrastructures and a strategic position, at the crossroads between Europe, Northern Africa and the Middle East. The National Resilience and Recovery Plan (NRRP) of Italy, spanning from 2021 to 2026, leverages more than EUR 200 billion in EU funds. The plan aims to expedite the digital and green transitions while implementing comprehensive reforms to tackle longstanding impediments to growth in the Italian economy. Overall, foreign companies account for 18% of the Italian GDP and 14% of investments (data U.S. Department of State). Nevertheless, high procedural and tax costs slow administrative processes, labour costs, regional disparities, corruption and organised crime are still among the factors that hinder investments in the country. In order to foster Italy’s attractiveness, the government created “InvestItalia”, an agency dependent on the Prime Minister which coordinates Italy’s promotion activities to attract foreign direct investments. Finally, the country’s government amended the “Golden Power” law, which gives it authority to block foreign acquisitions of companies operating in strategic sectors (defence/national security, energy, transportation, telecommunications including 5G and cloud computing, critical infrastructure, sensitive technology, and nuclear and space technology). Italy ranks 41st out of 63 in the World Competitiveness Ranking. Furthermore, it ranks 26th among the 132 economies on the Global Innovation Index 2023 and 81st out of 184 countries on the 2023 Index of Economic Freedom.
Foreign Direct Investment | 2020 | 2021 | 2022 |
FDI Inward Flow (million USD) | -23,622 | -8,956 | 19,947 |
FDI Stock (million USD) | 490,197 | 449,962 | 448,493 |
Number of Greenfield Investments* | 169 | 236 | 274 |
Value of Greenfield Investments (million USD) | 10,022 | 19,848 | 25,437 |
Source: UNCTAD, Latest available data
Note: * Greenfield Investments are a form of Foreign Direct Investment where a parent company starts a new venture in a foreign country by constructing new operational facilities from the ground up.
Country Comparison For the Protection of Investors | Italy | OECD | United States | Germany |
Index of Transaction Transparency* | 7.0 | 6.5 | 7.0 | 5.0 |
Index of Manager’s Responsibility** | 4.0 | 5.3 | 9.0 | 5.0 |
Index of Shareholders’ Power*** | 6.0 | 7.3 | 9.0 | 5.0 |
Source: Doing Business, Latest available data
Note: *The Greater the Index, the More Transparent the Conditions of Transactions. **The Greater the Index, the More the Manager is Personally Responsible. *** The Greater the Index, the Easier it Will Be For Shareholders to Take Legal Action.
The strong points of Italy in terms of foreign investment include:
The key weak points of Italy in terms of foreign investment include :
The Italian Trade Agency's Invest in Italy website provides guidance on investing and setting up a business in the country.
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Actualitzacions: July 2024