An alliance to promote the development of manufacturing and the competitiveness of Italian businesses

Milan, 27 May 2016 – Fostering the development of economic and commercial cooperation and investment between Lombardy-based businesses and the Singaporean entrepreneurial sector, are the key objectives of the collaboration agreement signed today at Palazzo Turati by Assolombarda, Confindustria Lombardia and International Enterprise Singapore (IES).

The Memorandum was signed during the event “Italy and Singapore relations: best practice and new opportunities in Lombardy”, sponsored by the Lombardy Region in collaboration with the Enterprise Europe Network, a network of which Confindustria Lombardia and IES are partners.

“Lombardy is a region with an international vocation: it is the European region with the highest number of employees in the manufacturing sector (nearly one million people), and its exports exceed those of entire countries such as Hungary and Denmark – stated Confindustria Lombardia President Alberto Ribolla –. Our competitiveness can continue to grow by focusing on the centrality of manufacturing, thanks to businesses that are increasingly internationalised and integrated into a global context. Events like today’s meeting, and the signing of the memorandum with Singapore, allow us to put our businesses in a position to develop their competitiveness,” concluded Ribolla.

“The agreement with Singapore is further proof of the great interest with which we view the countries of South East Asia – stated Michele Angelo Verna, Director General of Assolombarda Confindustria Milano Monza e Brianza –. Just last month, at Assolombarda, we hosted an important initial dialogue and discussion with businesses regarding the potential of ASEAN, which is a central partner for Italian and European trade policy in terms of foreign investment, employment and trade, also in light of the free trade agreements that the European Union has already concluded and is currently negotiating. In this direction, through our collaboration with Singapore, which hosts a quarter of the 420 total businesses concentrated in South East Asian countries, we want to help companies better understand the opportunities this country can offer as a hub for ASEAN and, at the same time, support Singaporean companies interested in Lombardy, and Milan in particular, as a base for the European and Mediterranean markets.”

The Memorandum, signed by Lee Ark Boon, Chief Executive Officer of International Enterprise Singapore; Alberto Ribolla, President of Confindustria Lombardia; and Michele Angelo Verna, Director General of Assolombarda Confindustria Milano Monza e Brianza, provides for collaboration between the signatory bodies for the next two years.

The meeting was attended by Benedetto Della Vedova, Undersecretary of State at the Ministry of Foreign Affairs and International Cooperation, who, during his speech, expressed his appreciation for the collaboration agreement with Singapore aimed at promoting the development of manufacturing, competitiveness and the internationalisation of Italian businesses.

Cooperation will specifically concern the design innovation, real estate and fashion sectors, in addition to the exchange of technologies, which may also be fostered through the Lombardy Technology Clusters and will cover the following sectors: Green Technologies, Energy Efficiency, Advanced Manufacturing, Electronics, Aerospace and Life Sciences.

Attachments

• Singapore Memorandum - 27May16_PR.pdf
• MoU_Singapore_27May2016.pdf