Since 2016, ICE Agenzia's commitment to promoting the Italian market has reached new heights. ICE Agenzia decided to strengthen its services by activating, in 20 of the 79 foreign offices present in 65 countries, specialists dedicated to the promotion of direct investments to Italy, the so-called FDI Desks.Through its FDI Desks, coordinated by the central office in Rome, ICE Agenzia is committed to:
- promote new business opportunities;
- help foreign investors to open operating businesses in Italy or to enhance existing ones;
- support investors during the strategic planning process;
- offer an accompanying service to better navigate the Italian regulatory system.
The data are certainly positive, according to a 2018 study by MISE, the stock of Canadian FDI in Italy amounts to about 631 million euros. From 2003 to 2018, 34 FDI projects to our country originated from Canada that created 1,429 new jobs. The examples and success stories are numerous and mostly in the manufacturing sector. The Bombardier Group, a major player in the rail and aerospace industries, acquired Daimler-Chrysler Rail Systems (Italy) S.p.A. of Vado Ligure (SV) in 2001, creating Bombardier Transportation Italy, a company specializing in the construction of railroad rolling stock and equipment. Magna International, the world's third-largest manufacturer of automotive components, has more than 20 production and development sites in various countries including the Italian site of Modugno (BA), which was acquired by Germany's Getrag. Also Magna International, in June 2018, signed an agreement to acquire Olsa S.p.A., based in Rivoli (TO) and employing about 600 people, which specializes in the production of lighting products.
Companies in the manufacturing sector that have chosen Italy as the destination country for their investments include Rotorsim, Macro Engineering & Technology, TransPod, Argon 18, CSA Group, Start Technologies Europe, Canadian Solar Inc, and TurboSonic Technologies.
The table below shows the FDI of Canadian manufacturing companies in Italy by sector:
Source: fDi Intelligence from The Financial Times Ltd
As a function of promoting the excellence of the Italian manufacturing market in Canada, and not to stop this positive flow of foreign investment in Italy, ICE Agency Canada brought some Canadian delegates to the World Manufacturing Forum held in Cernobbio (CO) between September 25 and 27. Opportunities in ten different manufacturing sectors were presented at the forum: pharmaceutical, agricultural and food, chemical, logistics, and industrial mechanics.
ICE Agenzia Canada was also present at the Aerospace & Defense Meetings conference, held in Turin, Italy, in late November, with a delegation of investors and a speaker who presented the Canadian aerospace market and opportunities for Italian companies.
The opportunities for the sector are many, and ICE Agenzia, through FDI Desk Canada will continue its efforts to promote Italian excellence in order to create partnerships and business collaborations as well as' actual direct investments.
Assistance to Italian investors concerns only companies whose business expansion in Canada has reached such a critical mass that a direct presence there is required to maintain or increase market share.
From this perspective, therefore, the action of the FDI Desk Canda with an office in Toronto should be read as an internationalization tool that helps Italian companies.
For more information regarding promotion and attraction of investment to and from Canada please contact fdi.canada [at] ice.it (subject: Machines Italy E-newsletter)