“Our company is the engine that connects Italy to the heart of Europe”. With these words the president of Assolombarda Alessandro Spada opened thegeneral assembly, held at the Aula Magna of Bocconi University in Milan, entitled “The Enterprise That Is In Us”. The event brought together representatives of institutions and the business community.
In his speech, Spada focuses on the importance that business plays in contributing to the construction of a new Europe: “A Europe of action, an autonomous Europe, which maintains its pillars of liberal democracy, market culture and welfare”.
Lombardy: a GDP in tenth place in Europe
Speaking about the economic results, Spada underlines that the Lombardia, if considered as a country, would be at 10th place in GDP in the European Union, with a value of 480,6 billion euros. “This growth is the result of the commitment of all of you and your collaborators,” he says, emphasizing the importance of cooperation between companies. However, the president does not hide the challenges current. “Recent months are proving to be more complex than expected,” he warns, citing external factors that affect the economy. Spada points out that Lombardy’s competitiveness is reflected in international markets, with exports worth more than 163 billion euros. “It is essential that our industrial model, based on quality and innovation, continues to thrive,” he adds, expressing concern for the future.
Spada then expanded the discussion on the European dimension, highlighting the need for a new strategy painting to overcome the obstacles that have limited the continent's growth in recent decades. "We must overcome the European institutional cage that limits our decisions," he said, calling for a pragmatic and collaborative approach.
More courage in Italy for investments
“We need investments: we cannot stop now, it is time to run faster”. With these words, the president of Assolombarda Alessandro Spada highlighted the urgency of increasing investments in Italy. Compared to the fourth quarter of 2019, in the second quarter of this year, Italy recorded a real increase of 10,1% in investments in machinery and plants, while in Spain, France and Germany there were decreases.
“This has been the real secret of our industrial capacity,” Spada said, noting that, thanks to the Industry 4.0 Plan, the share of investments in GDP has gone from 6,1% in 2014 to 7,6% in 2023. Spada also warned that Europe must do more to be competitive, drawing attention to the “800 billion additional investments” estimated by Mario Draghi, equal to almost 5% of European GDP and over a third of Italy's.
La tax burden was another key theme of his report. Spada said: “Urgent spending review and reduction of tax pressure. Introduce the mini Ires,” he said, emphasizing the need for more “courageous” reforms to relaunch the Italian economy.
Auto: “Postpone the ban on internal combustion engines until 2035”
Furthermore, it raised concerns about theautomotive industry: “Postpone the Endothermic engine phase out by 2035. Up to 40 jobs in Italy at risk”. Spada argued that this does not represent a real “transition”, since it imposes ambitious goals and the exclusive use of a single technology, electric, for which Europe does not have sufficient raw materials and components. “We must admit mistakes,” he said frankly, stressing that we cannot allow the transition to electric to compromise the future of companies and jobs.
Here, Spada asked a crucial question: “Do we really think we can win the electric challenge in the face of China?” He noted that in 2008, Europe produced nearly 31% of the world's vehicles, while China only 13%. Today, the situation has changed: Europe produced nearly 19% of vehicles in 2023, while China has reached 32%. “Not a week goes by without worrying news from the Germany: from the fall in electric car sales to announcements of factory closures and job cuts,” Spada warned, stressing that the German crisis profoundly affects Lombardy's industry. Germany, Lombardy's main foreign market with a value of 20 billion, recorded a loss of 1,8 billion euros in sales in 2023. "For us entrepreneurs, this is a serious concern, perhaps the most serious," Spada emphasized.
Sustainability: Advantage or Constraint?
Spada also highlighted a crucial aspect of the sustainability, stating that “the European Union is not the planet’s polluter of last resort.” He provided clear data: “China alone produces 12,6 million tonnes of CO2, up 4% from 2022 to 2023, while Europe is responsible for 2,5 million tonnes, down 7% from the previous year.”
For Spada, sustainability is not a constraint, but a competitive advantage. “We entrepreneurs are true precursors of sustainability,” he said, citing concrete examples of innovation in the Lombardy industrial sector, such as the cutting-edge technologies developed in Milan for metal recovery and the conversion of non-recyclable plastic into bio-oil.
However, he warned that Europe is highly dependent on imports of raw materials. “We need to reduce demand through recycling and circularity, diversifying supplies and increasing European production capacity,” he said, shifting the focus to the need for a radical change in the way the European Union addresses industrial and energy challenges.
Reforms needed for competitiveness
The president of Assolombarda continues with a clear appeal: “To face the challenges of transitions and compete with the United States and China, we need a common fund at European level”. Spada calls for a radical change in the way the European Union addresses industrial and energy challenges, arguing that the nuclear represents a fundamental solution for the country's energy independence: "it will bring economic and employment benefits". He highlighted the urgency of developing a clear legal framework and investing in small-scale plants, arguing that "without energy there is no artificial intelligence, bureaucracy is an obstacle to technological development".
The president of Assolombarda also spoke about the need for a antitrust reform, urging to “move beyond a consumer-focused approach that exists only in theory”. This change of direction would be essential to foster European competitiveness in the global context.
Spada concluded his speech with a strong and clear appeal: “We need investments: we cannot stop now, it is time to run faster". He drew attention to the need to effectively use the resources of the Pnrr and to implement the “save Milan decree” to remove the obstacles that are slowing down the city's development.
