Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, welfare-dependent, agricultural south, with high unemployment. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises. Italy also has a sizable underground economy, which by some estimates accounts for as much as 15% of GDP. These activities are most common within the agriculture, constuction, and service sectors. (CIA World Factbook)
Key exchange rates:
Interest rate: 1%
Current inflation: 3.6%
Inflation target: 2%
Tax rate: 20%
Major Italian owned companies:
An integrated energy company, Eni is committed to growth in the activities of finding, producing, transporting, transforming and marketing oil and gas. Eni is active in 70 countries with a staff of about 76,000 employees.
Enel is Italy’s largest power company and Europe’s second listed utility by installed capacity. It produces and sells electricity and gas across Europe, North and Latin America.
Bank of Italy The Bank of Italy is the central bank of the Republic of Italy and part of the European System of Central Banks (ESCB) and the Eurosystem.
Intesa Sanpaolo Intesa Sanpaolo is the leading banking group in Italy, with 6,518 branches and about 11.4 million customers.
Studio Legale Sutti Studio Legale Sutti aims to provide a full range of legal services to businesses, investors, and foreign colleagues with similar practices, relying primarily on the their human resources, a customer-driven organisational culture, and cutting-edge information technology solutions.
Chiomenti Studio Legale Studio Chiomenti provides legal advice with the goals of enabling clients to fully understand the legal variables affecting their business decisions and turning efficient legal structures into a competitive advantage.
Russo & Potenza Russo & Potenza provides a wide range of national and international clients with different professional business services including accounting and tax issues, auditing, balance sheet and financial statements set up and reviews, incorporations and company structure modifications.
La Naia, Di Oronzo & Partners La Naia provides clients with tax compliance, audit, legal, payroll and accounting services, and is a strong independent provider of international services.
Chamber of Arbitration of Milan The Chamber of Arbitration of Milan is a special branch of the Chamber of Commerce of Milan and specializes in commercial dispute resolution.
Venice Court of National and International Arbitration The Venice Chamber of National and International Arbitration is a private, non-chartered, not-for-profit organization. The Chamber means to offer to commercial operators an agile and, as speedy as possible, procedure.
Eurochambres, the European Association of Chambers of Commerce and Industry, is one of the key representatives of business to the European institutions. It voices the interests of over 19 million member enterprises in 45 European countries through a network of 2000 regional and local Chambers represented by 45 national - and one transnational - organisations. More than 90% of these enterprises are small or medium enterprises, with chamber members employing over 120 million employees.
Eurochambres is the sole European body to serve the interests of every sector and size of European business - due to the multi-sectoral membership of Chambers - and the only one so close to business, as a result of the Chambers’ regional focus.
The Italian Chambers of Commerce carries out functions of general interest within the private business system. Each Chamber carries out important functions in the administrative area, offering enterprises a full range of services to facilitate market intelligence, and skilled training to stimulate companies and businesses in innovative efforts and to support business trade relations home and abroad.