Confindustria and UniCredit have signed a collaboration agreement in support of Italian entrepreneurs' economic projects in Libya: UniCredit will offer advisory services to Confindustria member companies, as well as acting as interface between all clients interested with the Libyan bodies in charge of granting financial facilities.
Libya has recently commenced an opening process towards international markets, through a series of measures which include financial and tax concessions for foreign investors, the progressive privatisation of State companies and the acquisition of minority stakes of shares in different foreign Countries. The recent reprisal of bilateral relations between the two Countries, through the signing of the 'Friendship, Partnership and Cooperation Treaty',has opened the way for a deeper and more stable market penetration by Italian companies.
In order to support the companies wishing to take advantage of the opportunities offered by the country, Confindustria and UniCredit will join forces to provide high value-added services and solutions to all companies interested in this market. UniCredit, which is already present in the country with its Representative Office,is the only Italian banking group pursuing the awarding of one of the two licences to exercise in Libya.
To attract the interest of international partners, Libya is creating industrial areas in which customs and tax exemptions will be granted to foreign companies. As has already been publicised, to this end Libya and Italy are negotiating specific agreements aimed at creating an area within the 'Free Trade Zone' of Misurata reserved to Italian companies.
Rome, 27 May 2010
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