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Italian Economic Diplomacy – 2 November: latest news from the world

Third Italy-South Africa Summit promoted by Ambrosetti in Johannesburg, South Africa

The third Italy-South Africa summit, organised by The European House -Ambrosetti with the support of the Italian Embassy in Johannesburg, was attended by some 200 Italian, South African and other African businessmen.

Four main business sectors stood out as having the greatest business potential between Italy, on the one hand, and on the other hand, South Africa and other African Countries: agrofood, automotive, energy and ICT. Regarding the agrofood sector, one of Italy’s strengths is the cooperative system that seems to appeal to the South African authorities, who are interested in promoting this business model to facilitate the entry of small producers into the agroindustry supply chain. The automotive industry is one of the pillars of the South African economy and the growth of the sector attracts a lot of foreign investments. In the high technology sector, the components segment offers the greatest opportunities for Italian companies. 
In the energy field, besides renewables, where there are already many Italian companies operating in the Country, great potential exists due to the 3.5 billion euro programme, which includes two gas-to-power projects in the transport sector as well as hydrocarbon extraction, infrastructure, clean coal technologies, and energy distribution and storage.
Another sector that is attracting interest, besides the green economy, is the ‘blue economy’. South African authorities are engaged in implementing a 6.2 billion euro programme to improve the functionality of the commercial ports of the Country. Finally, in the ICT sector, the South African Government intends to facilitate the entry of private players to develop infrastructure and platforms in partnership with the public administration.