Piedmont attracts more and more attention from foreign investors. According to a study carried out by Unioncamere Piemonte and the Turin Chamber of Commerce and presented during the event “The value of foreign multinationals in Piedmont” in the region are 1.300 foreign multinationals present, equal to 10% of the national total, with 4.381 local units and 150 thousand employees, values that place Piedmont in third place in Italy for foreign-controlled companies.
Foreign multinationals want to stay in Piedmont
The analysis involved 225 multinational enterprises, 8% of which are large, employing approximately 25 thousand workers. According to the results, more than 8 out of 10 foreign multinationals present in Piedmont (83%) want confirm presence for the three-year period in progress (2024-2026). 12% intend to expand or diversify while 3% intend to lighten or reconfigure their presence in the Piedmont area. Only 2% intend to close the business.
"To compete globally, Italy must present itself as a unique country, capable of highlighting its regional excellence within a unitary and shared strategy. The territories represent an essential resource, but it is equally crucial to integrate them into a national and European vision. This approach is essential to strengthen our identity as an authoritative member of the European Union and a privileged destination for foreign investments, which already contribute to 21% of national turnover and 35,1% of exports. Only a effective coordination between institutional levels and industrial policies can fully exploit the country's potential, allowing it to address the digital and green transitions and attract global capital and skills, which are essential for our economic future" he said Barbara Cimino, vice president for exports and attracting foreign investments at Confindustria.
“We need to evaluate successful experiences and opportunities for improvement, to incorporate them into future projects.” – he explains Pier Paolo Antonioli since September president of the Multinational Commission of Confindustria Piemonte, while Darius Gallina, president of the Turin Chamber of Commerce and vice president of Unioncamere Piemonte, emphasizes how the region has “over the years been able to attract numerous multinational companies, which have chosen to invest in our territory, bringing with them know-how, advanced technologies and new development opportunities. These companies represent a fundamental engine for our economy, generating quality employment, promoting innovation and helping to strengthen our competitiveness at an international level”. “
Foreign multinationals in Piedmont: turnover and personnel on the rise
Returning to the analysis by Unioncamere Piemonte and the Turin Chamber of Commerce, 48% of the multinationals interviewed declared that they had increased turnover in 2023 compared to 2022, 29% have increased staff, three out of four multinationals have made investments in the region in the three-year period 2021-2023. However, this incidence drops to less than 1 in 3 if we look at the sample of manufacturing companies.
67% of the turnover is generated by domestic demand (15% in Piedmont), 20% from Europe and 13% from the rest of the world.
Strengths and weaknesses
Again from the analysis conducted by the chamber of commerce, the main strengths include: quality of life, the presence of intermodal logistics hubs and storage of goods, the availability of iICT infrastructure, the geographical position and the quality of the education system. burocratic procedures represent the main criticality, followed by the availability of adequate public incentives and an inflexible labor market. Finally, more than one multinational in two considers support for identifying incentives useful or very useful, just under one in two would like to receive support in finding the staff they need, while 16% ask for support for visa issuing procedures.
