Home FixingFixing A new skin: quality, internationalization, and attracting foreign capital

A new skin: quality, internationalization, and attracting foreign capital

da Redazione

by Silvia Della Balda * 


SAN MARINO – The Italian cradle we slept peacefully in was perhaps a little too comfortable; we snuggled up in the financial comfort it offered, allowed ourselves to be lulled by a hypnotic and reassuring lullaby. When the cradle was brutally rocked, we were thrown to the ground, hurt and surprised. There can be no justification. Good administrators should have foreseen alternative solutions, different possibilities; they should have offered new opportunities and at the same time, urged the economic world not to succumb to easy solutions derived from the shortfalls and failures of other systems external to ours.

When the Republic of San Marino’s Italian cradle was overturned it – unfortunately – coincided with the start of the work of this Secretariat of State, a few months after the 2008 elections. Coming from the financial world and in no way conditioned by the nerve centres of state bureaucracy and party affiliation, I already had a vision for San Marino that was totally different from what had evolved over previous decades. Suffice to say that the first two projects we immediately started working on, by organizing meetings, visits and in-depth studies with experts, were those for a Science and Technology Park and for the Agency for Direct Foreign Investment.

Quality, internationalization of the economy and the attraction of foreign investment are the principals on which the Secretariat of State has focused in the various sectors of its work.

The internationalization of the economy of San Marino is a fundamental part of our work. With regard to export internationalization, we are working towards creating the conditions for supporting our companies overseas and we believe that the reform of the Chamber of Commerce – as a tool strictly designed to support companies, with services and studies that can also orient choices or favour decisions by entrepreneurs – can provide good results. With regard to internationalization towards San Marino on the other hand, thanks to the foundation of the Agency for Direct Foreign Investment, we are certain that it is possible to work towards seizing opportunities for growth and consolidating our economy.

Both flows have characteristics that are strategic to the country’s development. Today, all the world’s countries are trying to attract investment, triggering fierce competition based on who can offer more concessions, better services and infrastructures and greater security. Western countries in the “old economy” have been bruised and battered by a series of crises now investing all areas, including the structural field, while Eastern countries and new economies are galvanized by strong development and constant growth. Territorial marketing initiatives are the means by which information can be circulated, introducing ourselves to investors with proposals supported by legislation and certain data, as well as a highly-professional labour force capable of offering top quality.

San Marino has shed its skin. Now more than ever, we should concentrate our efforts and energy – in a coordinated manner – on projects that will lead to the cultural growth of the country, the training of young people, quality services, efficiency in the Public Administration, labour flexibility and a strategic plan to attract investment.


* Deputy Minister for Industry, Handicrafts and Trade

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