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Class Editori News

320 million by ICE to support exporting companies

February 13, 2020


Abstract : The Minister Di Maio has recalled that 320 million will be allocated in order to redirect the export flows of made in Italy and to limit kickbacks caused by the coronavirus epidemic.

MILAN, Feb. 11 (Class Editori) -- The effects of the coronavirus epidemic on Italian growth are now part of the government agenda. "An investigation is being carried out with the aim of adopting containment measures for the negative impact of this emergency on our economic and production system", the government declared at the end of a meeting which has been attended for the first time by Roberto Gualtieri, Minister for Economic Affairs, together with Roberto Speranza, Minister of Health.

The meeting at Palazzo Chigi has boosted a first investigation. The Conte government is not excluding the possibility to release a targeted decree, but more detailed measures have not been undertaken yet.

According to the Treasury, a first analysis of the risks and effects the epidemic could have on the domestic economy is being carried out. The impact has already been documented by ISTAT data, which underlines a slowdown in industrial production as well as a recession risk.

This is the reason why supporting measures to safeguard the Italian productive fabric are being taken into account. These aids could result in the reduction of tax burden and social security contributions for the affected companies; this is a measure regularly taken by the Government on exceptional cases, such as natural disaster or earthquakes.

Together with the reduction of tax burden, the government is not excluding to address trade and exchanges to those areas which have been less affected by the virus. In this moment, it is just a theoretical possibility, helpful to support the Italian involvement in new markets.

Di Maio, the Foreign Minister declared that ICE (Institute for foreign trade) will allocate 320 million euros in 2020. "These funds will be at disposal of exporting enterprises, in order to redirect trade flows and export targets towards markets which have not been affected by the impact of coronavirus", the Minister of Foreign Affairs said.

"This is the moment of ripe markets, the moment in which we can increase our interchange with the markets we effectively know well. 300 million will be allocated to support enterprises to export the made in Italy worldwide, in this moment of great difficulty."

"We are keeping the highest level of precaution, mainly aiming at protecting the health of all citizens", as the Minister Gualtieri stated during the night of February 10, "we will promote humanitarian support and scientific collaboration initiatives with the Chinese people and authorities".

Meanwhile, the MEF (Ministry of Economy and Finance) has declared that the analysis aimed at finding the most suited measures to support the business and export of the companies has started.

Carlo Sangalli, president of the Chamber of Commerce of Milan, Monza Brianza, Lodi raised the alarm on the occasion of the signing of a memorandum of understanding with Sergio Bracco, the commissioner of Milan, related to the legality of the companies. "In a period of economic stagnation, the impact of coronavirus is strongly affecting whole economic sectors of our country, such as tourism, which is recording a collapse in tourists' presence", Sangalli stated. "We are urging the government to take effective and concrete measures for these companies, which have been strongly affected".

What kind of measures? According to the president of the Chamber of Commerce of Milan, "Fiscal and social security measures are needed". Initiatives of scientific collaboration are going hand in hand with the analysis of the government, in order to support the great efforts made by Chinese authorities to tackle the virus. (all rights reserved)

(Source:Class Editori)

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