The Italian Government created, at the beginning of April, a committee composed by eminent personalities from diverse backgrounds (law, economic, social, business) led by Mr Vittorio Colao. He has a vast experience in the world of business and multinational companies.

Last week (after two months only) the group presented, to the Government, their proposal of action in a 121 pages document called Piano Colao (Colao Plan). In the report, they submit the measures to be taken to give Italy a big push forward and out of the colossal crisis created by the current COVID-19 pandemic.

I have read the report “Iniziative per il rilancio Italia 2020-2022“and can only hope that it will be approved and immediately put in motion. I lived during four years in Milan (2000-2004) and worked for the local branch of an American commercial company. We had some 120 employees. I can very well remember all the problems that we, as a company, had to manage. Situations that in other countries were much more straightforward, mainly in labour and tax matters. Not to mention the impossibility of the US management to understand the Italian reality. Bureaucracy and Law in Italy were extremely confusing and inadequate for the needs of companies at the time. I have not followed the situation in detail during these 16 years, but the EU continuosly urges Italy to a deep reforms of institutions and economic systems. In my talks with Italian friends they confirm once and again the lack of improvements.

This situation is very frustrating, not only for the Italian economy and population, who see that the country does not progress but also for the European Union. Italy is the third most important economy in the Union, and a strong Italy can only benefit all the countries.

The team created by Mr Colao has proceeded in the same way that I would have done. They took several international reports produced by other organisms and have tackled, in them, the essential points to correct.

Among the indexes at the base of their proposals, they mention the Global Competitiveness Index 2019 and the Travel & Tourism Competitiveness Report 2019, both studies issued by the World Economic Forum.

It is intelligent to act as they do. It also saves time and resources. Why should they reinvent the wheel, when some very competent organisms have already spotted the Italian points that have to improve.

The Covid-19 crisis represents a historical opportunity for Italy to reshuffle its economy and society. Both public and private. This report points into this direction proposing action in 6 significant areas:

Among the proposals in the report, we can underline:

• the reduction of bureaucracy
• improving the skills of workers in private and public sectors
• the decrease of fiscal pressure
• the reshuffling of public administration
• a better use of State assets to impulse economy and social measures
• improvements in the health system
• the promotion of equal opportunities for men and women
• Italian infrastructures need a big push
• tourism in Italy: as sector with significant potential
• measures to reduce black economy
• exports from Italy need to be supported
• companies should capitalize to gain additional strengh
• open doors for Italian companies manufacturing abroad to return home
• impulse to Research & Decelopment
• Italy as brand of quality
• and many more…

There is a significant focus on the role that private companies, many of them small exporters, will need to assume to relaunch Italy. They are the motor, and it is excellent news that someone understands that the well-being of companies and their activity is of utmost importance for the development of a country.

A very realistic and significant paragraph can be read on page 15:
“The urgency of these measures is further appreciated considering that the European framework is now characterized by increasing competition between institutional and legal systems and contexts (starting from the financial markets), a competition that could incentivize (as has already happened) the choice by Italian companies to migrate to legal systems and more attractive markets.”

Until the pandemic appeared, we have been living in a global world, and at least within the EU, this will continue. Companies have invested there where they could obtain more efficient results: they have moved to more competitive countries. This paragraph is, at the same time, a call for action in those countries that historically have depended of foreign investment. They need to put measures on the table to become more attractive and keep their foreign investment. The reduction of salaries is not the only way forward.

I eagerly salute this report and congratulate the authors. I hope they will soon see it developed and implemented. I also hope that the Italian Government will maintain the spirit of reforms and will envisage a second phase once this first one is unfolded with success. I want a strong Italy in a strong Europe and this report makes me believe that Italy will be much stronger in the future.

At the same time, I would urge some other governments in Europe to follow the steps of the Italian Government. They should create groups of professionals, not groups of politicians, to study and propose similar reforms that should be implemented. I would urge them all to look for greater Competitiveness.