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The Ministry of Foreign Affairs sets up a 716 million plan for Made in Italy

March 05, 2020


Abstract : The funds have mainly been provided by Sace and Simest (400 million), but also 316 million have been delivered by the Ministry of Foreign Affairs, such as free ICE services and free exhibitions addressed to SMEs. Gualtieri has proclaimed extraordinary measures regarding export insurance.

MILAN, March 4 (Class Editori) -- A 716 million remarkable plan for the Made in Italy support and relaunch: this sector has been strongly affected in the last days by the unseemly reactions of many countries, which have not only stopped flights from and to Italy, but have also started rejecting goods coming from the country, even asking for quality labels about the healthiness of the products. This is the plan been launched by the Foreign Minister- Luigi di Maio- who this morning has called half of the government and different government agencies, which are active in the foreign trade sector, in order to release the "open" project for the Italian production.

"We have 716 million resources at disposal, addressed to the remarkable plan for the Made in Italy promotion, which is a project open to everybody". This is what has been stated by the head of the Farnesina. In particular, "316 million are added to 400 million allocated by the Sace-Simest fund, in order to support the enterprises internationalisation", as Di Maio has concluded.

In this view, also the responsible for Economic Affairs- Roberto Gualtieri- has declared his contribution to support the Made in Italy, by explaining that the Ministry is working to make the export insurance more accessible by the government. He added, then, that Sace and Simest are taking measures in order to support companies during this difficult moment, in particular the smallest ones.

Generally speaking, concerning the current and future impact of coronavirus on the economy, Gualtieri has explained that this morning on the occasion of a "call with G7 countries it has been agreed that we are ready to adopt appropriate fiscal measures to support the economy", by adding that Italy is acting and will act along this established line.

The Plan carried out by Di Maio provides that "ICE will finance 100 percent of the expenses recently incurred by the companies which could not attend exhibitions due to coronavirus emergency". Moreover, until March 2021, companies can take part in the ICE initiatives without paying the participation fee (15 million expenses). Finally, starting from April, ICE will offer its services "free of charge" in its offices abroad, to all enterprises with a maximum of 100 employees.

Concerning the virus obsessive fear arisen in some countries against Italian products, the responsible of Foreign Affairs has declared: "the stop to Italian goods is inacceptable and it is even inacceptable that some countries are currently asking 'virus-free' labels to Italy, namely guarantee labels on Italian goods. We are protesting through the diplomatic network and we are asking to the WHO to declare that these requests are totally absurd. It is an inacceptable discrimination but also an attempt of unfair competition, which we cannot tolerate."

In the meantime, within next Friday, the government should draft a second economic decree, in order to particularly relieve those companies located in the most-affected area, which should be worth approximately 3.6 billion euros. Instead, some more weeks will be needed to implement other measures, in particular those related to the relaunch of investments. These will be grouped in a new decree, which will surge the economic power made available by the government to 12-15 billion euros, as already released by MF-Milano Finanza, today in newsstand.

(Source:Class Editori)

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Keyword: Made in Italy

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