Italy seeks UAE investment

DUBAI — The 'Invest in Italy' conference will help the UAE investors to visit the European state, which is being developed as a "leading investment-friendly" country with a safe, secure and healthy investment environment.

By M. A. Qudoos

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Published: Wed 4 May 2005, 10:57 AM

Last updated: Thu 2 Apr 2015, 5:03 PM

This was stated by Adolfo Urso, Italian Minister of Foreign Trade, while addressing the inaugural session of the conference in Dubai on Monday.

Itlay aims at inviting investment from the UAE through the conference, specially in the key sectors of real estate and tourism. The UAE's FDI share in Italy is still small.

A similar event titled, 'Enhancing industrial cooperation and investment opportunities', was also held in Abu Dhabi yesterday to reinforce Italian investment presence in the UAE in transportation, telecommunication, packaging, food and beverages, automobile spare parts, tourism, furniture, pharmaceuticals, power generation, and chemicals and petrochemicals.

The Abu Dhabi conference was attended by delegates from 30 Italian companies.

Dr Ferdinand Fiore, Italian Trade Commissioner in Dubai, said that a new entity has been formed in Italy by the name, InvestInItaly, to support foreign enterprise in every phase of investment and business development from choosing the location to setting up a project, from helping the public administration to providing incentives and after-care service.

He said that the Italian Trade Commission, Dubai, recently set up an Investment Desk to promote Italy business and investment environment, encourage investment inflows, seeking strategic partnerships and suitable alliances, create multinational corporation and organising investment events.

Italy ranks 13th amongst 20 investing countries and 16th among the top 20 FDI recipient countries. Regarding relative cost of doing business in North America, Europe and Japan, Italy is the third most competitive country after Canada and the UK and the first country in the euro-zone.

The main European countries investing in Italy are France, Germany and the UK while the US is the largest foreign investor in terms of companies, turnover and employees by a share of 24 per cent.

Gualtiero Tamburini, president of the Italian Real Estate Association, gave his presentation on figures, trends and forecasts of the real estate sector in Italy. He said that the opportunities were in new large high quality projects, opening of new markets and sectors, urban regeneration companies, among others.

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