Valentino Valentini, Deputy Minister for Enterprise and Made in Italy, today concluded a visit to Singapore, a strategic step in Italy's growing focus on the Indo-Pacific region. The mission aimed at strengthening bilateral economic and industrial relations and deepening collaboration opportunities with local and international partners.
During the visit, the Deputy Minister, assisted by Ambassador Dante Brandi, met with the top management of the Singapore Ministry of Trade and Industry (MTI), with whom he discussed the synergies between the two economic systems and the potential for growth in strategic sectors such as innovation, green transition and advanced manufacturing.
Particularly relevant were the meetings with the heads of Singapore's two main sovereign wealth funds, GIC and Temasek, as well as with representatives of Enterprise Singapore, the government's economic development agency, with whom the possibility of intensifying cooperation in quadrants of common interest such as Africa was explored, for which Singapore will host a Singapore-Africa Business Forum at the end of August.
Valentini met with industrial and financial investors, to whom he illustrated the solidity of the Italian production system and the attractiveness of Italy as an investment destination, as demonstrated by the recent decision of the Singaporean Silicon Box to open a plant in Novara for the production of advanced semiconductors, with an investment of over 3 billion Euros.
At the Italian Chamber of Commerce in Singapore, the deputy minister met with a large representation of Italian companies operating in the country, while with the heads of the Singapore Business Federation, the local entrepreneurs' association, he planned the visit of a group of Singaporean family businesses to Italy in early July, for contacts and exploration of opportunities with similar Italian family businesses.
Interviewed by Bloomberg Television, the Deputy Minister addressed the international economic scenario in light of the new tariffs introduced by the US and the potential impact on global trade, emphasising Italy's role as a bridge between the European Union and global partners, in line with Prime Minister Giorgia Meloni's recent visit to Washington, where she confirmed the need to keep the transatlantic dialogue open.
"Our presence in Singapore is part of an open and pragmatic industrial and economic policy vision," said Valentini. "Italy intends to strengthen the dialogue with Asian partners and promote cooperation based on quality investments, innovation and sustainability."
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