1. NEW INVESTMENTS IN
UKRAINE AND BELARUS AND THE
GROWING INTEREST IN
“MADE IN ITALY”

3. MAJOR FACTS ABOUT UKRAINE
Ukraine is a country located in Eastern Europe. It is bordered by Belarus to the north ; Hungary,
Slovakia, and Poland to the west; Russia to the north and east; and Romania and Moldova to
the south.
Kiev is the capital of Ukraine, with a population of 2,797,553, it is the largest city of Ukraine.
The total area covered by Ukraine is 233,000 square miles. The population of Ukraine was
estimated at 45,888,000.
Ukraine is a unitary state sub-divided into twenty-four oblasts (provinces) and one autonomous
republic , Crimea.
The government of Ukraine is a unitary semi-presidential republic. President is Viktor
Yanukovych, Prime Minister is Mykola Azarov.
The hryvnia, denoted by the ISO code UAH is the official currency of Ukraine. It was adopted as
the national currency on September 2, 1996. The hryvnia is subdivided into 100 kopiyok.
Ukraine has a market-based economy. In 2010 the GDP (PPP) was estimated at $305.2 billion.
The GDP per capita was $6,700.
A modern interpretation of the meaning of the colors used in the Ukrainian flag is that the color
blue represents the color of the sky, and yellow symbolizes the lush golden wheat fields of this
country. This association is thought to have been developed in the mid nineteenth century.
However, these two colors, blue and yellow, have been associated with Ukraine from the
times before the introduction of Christianity.

4. Investing in Ukraine and Belarus is an opportunity to benefit
from dynamic region with vast natural resourches
friendly-business environment and cheap labour-force
Growth of Gross Domestic Product (GDP) of Italy by investing
money into Ukraine and Belarus economy;
Increase of the export potential of Italy;
Modernization of Ukrainian end
Belarus industries;
Increase of the competitiveness of
Ukrainian and Belarus markets:
providing of quality production,
usage of new, innovative and
resource-saving technologies , techniques and equipments;
Simplified system of cooperation of Ukrainian and Belarus
government and local authorities;

5. BELARUS
COUNTRY PROFILE
Official Name Republic of Belarus
Location Eastern Europe
bordered
by Russia,Ukraine,Poland,Lithuania,Latvia
Capital Minsk
Government Presidential republic
President Alexander Lukashenko
Prime Minister Mikhail Myasnikovich
Total land area 207,600 km²
Population 9.458 million
Languages spoken Belarusian and Russian
Currency of Belarus Belarusian rouble (Br)

6. ECONOMY
Social market economy
GNP (2011) Br274282 billion;
per capita: Br28953 thousand
Number of people in employment
4.6 million (2011)
Unemployment in Belarus
28,2 thousand unemployed (2011)

7. ECONOMY
MAIN AGRICULTUR
INDUSTRIES E
 Metallurgical Areas of speciality :
industry  grain
 mechanical  potatoes
engineering  vegetables
 chemical and  sugar beet
petrochemical  flax
industry  meat and dairy
 light industry industry
 food industry

8. NATURAL RESOURCES
wood
peat
small oil and natural gas fields
granite
dolomite
limestone
clay
sand

9. TRADE
Belarus’ trade turnover
of goods amounted to
US$ 64.1 billion in 2012
and compared to 2011
grew by 13.7%.
Exports totaled US$ 32.9
billion and rose by
23.4%.
Imports amounted to
US$ 31.2 billion and
grew by 4%.
The positive trade
balance totaled US$ 1.6
billion.

10. Communication
 Telephone: main telephone
Facilities and equipment – about 4.2
Transportation million, users of mobile
phones – 10.7 million
 Internet users: more than
3.1 million
 Railways – 5,511 km,
including 897km of electric
track
 Highways – 85,700
km. Including paved roads
74,300 km
 Oil pipelines – 2,984 km
 Gas pipelines – 7,421 km

11. MEMBERSHIP OF INTERNATIONAL
ORGANIZATIONS, FUNDS AND
PROGRAMMES

12. MEMBERSHIP OF INTERNATIONAL ORGANIZATIONS,
FUNDS AND PROGRAMMES

13. Main Business Partners of Belarus

14. MAIN BUSINESS PARTNERS OF BELARUS
Russia
Ukraine
Netherlands
Germany
China
Poland
Venezuela
Brazil
Latvia
Italy

15. Main competitive
advantages
"Belarus has an enormous potential that has yet to be
Stable political and social situation, low levels
fully engaged – an advantageous geographical of crime and corruption
position, a well-developed infrastructure, social Significant progress in economic
stability, a strong research and technological
potential and low levels of corruption. Belarus can liberalisation and new initiatives towards
offer vast opportunities to investors, including a boosting business activities
privatisation programme for state-owned
enterprises." Advantageous geographical location between
the European Union and Russia
Cihan Sultanoglu
United Nations Development Programme Customs union with Russia and Kazakhstan
offers access to the vast and growing
market of approximately 168 million
"Belarus’ economic performances during the last five people
years [has been] one of the best in the CIS." Willy
Kiekens, executive director for the Republic of Transit opportunities including a developed
Belarus, IMF transport infrastructure
Various untapped sectors and niches;
"Belarus has a rich industrial heritage resulting in a competition is still scarce and there is
high level of economic diversification." Standard & room for growth and increased
Poor’s competitiveness across almost all sectors
in Belarus
"We can see the huge potential of the Belarusian IT- A highly skilled and cheap workforce and a
industry and are ready developed technological background
to invest in its development." Cliff Reeves, Microsoft
Developed investment infrastructure including
six free economic zones, a high tech park,
"The last untapped market in Europe" Business New and a Foreign Investment Advisory
Europe Council

16. HIGHLIGHTS
Stable political and social situation
Low levels of crime and corruption
Significant progress in economic liberalisation
New initiatives towards boosting business activities
Advantageous geographical location
Customs union with Russia and Kazakhstan
Transit opportunities. Developed transport
infrastructure
Various untapped sectors and niches; room for
growth and increased competitiveness
A highly skilled and cheap workforce
Developed technological background
Developed investment infrastructure

17. INVEST IN UKRAINE? WHY?

18. Main macroeconomic indicators

19. MAIN MACROECONOMIC INDICATORS

20. MAIN MACROECONOMIC INDICATORS

21. REASONS TO INVEST IN UKRAINE
The country's main strong points are:
- One of the biggest markets in Europe
- The most dynamic GDP growth in Europe
- A very good education system
- A strategic geographical positioning
- The emerging middle class
- The presence of investors such as Kraft Foods,
Coca-Cola, Hewlett Packard, Cargill, Knauf,
Raiffeisen Bank, Credit Agricole and many
others
- The strengthening and reforms of the banking
sector's

23. UKRAINE’S GLOBAL COMPETITIVENESS

24. INVESTMENT CLIMATE IMPROVEMENT
COMPLEX AND LARGE-SCALE ACTIONS OF THE GOVERNMENT
The actions of the Government are
aimed at the improvement of situation in
such fields as:
Fighting corruption
Tax legislation
Eliminating bureaucracy
Deregulation in Permit system,
Licensing
Financial system
Economy and corporate legislation

25. INVESTMENT CLIMATE IMPROVEMENT
FIGHTING CORRUPTION
The Law of Ukraine "On Principles of Prevention
and Fighting Corruption in Ukraine" consistent
with the provisions of the UN Convention against
Corruption was adopted on 15 March 2011 by
Verchovna Rada

26. INVESTMENT CLIMATE IN UKRAINE:
TAX SYSTEM REFORM
•The aim of the reform – ensure
sustainable innovation development of the
domestic economy
•Reduction of quantity of taxes
•Reduction of rates of main taxes
•Income tax – gradual reduction up to 16%;
New Tax Value added tax (VAT) – up to 17%
Code •Automatic VAT reimbursement
•Tax relief for small businesses:
•tax exemption for 5 years
•exemption from income tax once the funds
are being used for production
modernization and innovation upgrade

27.  Number of redundant state
institutions and structures were
terminated
 Number of state institutions
employees was reduced

28. INVESTMENT CLIMATE IMPROVEMENT
FINANCIAL SYSTEM

30. ITALIAN DIRECT INVESTMENTS IN UKRAINE (MILLIONS OF
U.S. DOLLARS)
Economic activity 1/07/2011 %
Total investments 945,6 100
Financial activity 781,5 82,6
Industry 122,2 12,9
Real estate 14,8 1,6
Trade 11,0 1,2
Transport and telecommunication 7,1 0,8
Agriculture 4,0 4,1

32. ITALIAN INVESTMENTS IN UKRAINE
According to data released by
ISTAT commercial exchange
between Italy and Ukraine is
growing up (+55,5% in the 1°
semester of 2011 in comparison
with the same period of 2010)

33. To summarize, Ukraine’s private sector represents substantial opportunities for foreign investors. Ukraine’s labor cos
UKRAINIAN PRODUCTS OF MAIN INTEREST
Iron and steel
Fuels
Oil seeds and oleaginous fruits
Animal or vegetable fats and oils
Cereals
Fertilizers
Salt, sulfur, earths and stone, limestone and cement
Leather
Wood
Inorganic chemicals

35. INVEST IN BELARUS? BUT WHY???

37. •“market socialism”
orientation (2005)
•pervasive state control
and involvement in the
economy
•marked degree of
monopolization in most
industries
•low degree of economic
integration between
Belarus and the EU
•mutually restrictive visa
regime (Belarus, the EU)
•dependence on Russia

38. Main conclusions
and challenges :
• High growth with extreme
dependence on Russian
energy and
raw materials is not
sustainable.
• Inward-oriented agriculture
needs reforms.
• Current planning system
leaves no chance to adjust
to any global market
challenges.
• Liberalization of certain
segments of the internal
market (especially services)
is inevitable.
(!)• Attracting FDI will require

40.  Financial Sector
KEY SECTORS (Banking and
FOR Insurance);
INVESTMENT IN  Transport & Logistics;
BELARUS
 Construction;
 Agriculture;
 Tourism;
 Retail;
 Manufacturing;
 Food and Beverages;
 Wood processing;
 Petrochemical complex;
 Energy sector.

41. Investment climate in Belarus
Belarus:  Business reforms
 Privatisation
 a place to  Investment incentives
do business  Free economic Zones
 High technologies Park
a welcoming  Taxation
and attractive  Labour market
destination  Investment guarantees
 Engaging with government
for foreign  International agreements
investors

42. Reasons to invest in Belarus
Location Direct access to the market
of the CES countries
 Belarus is in the heart of
Europe Access to the 275 million strong
CIS market and improving trade
 Target markets are near ties with EU via the ”Eastern
partnership”

43. Reasons to invest in Belarus
Incentives Developed transportation
and logistics infrastructure
 Competitive investment
 Taxation conditions

44. Reasons to invest in Belarus
 High Technologies  exceptional opportunities
for the development of the
Park IT industry
 unprecedented incentives
for investors
 free from all taxes
 are not required to be
physically located in the
Park
 Exports constitutes 80% of
the total production
volume

45. Reasons to invest in Belarus
Privatisation
opportunities Workforce
 Highly skilled (half with higher
 Abolition of the so-called education)
‘Golden Share’  Hard-working
 Low cost
 Tactics of step-by-step
privatisation
 Establishing more open
privatisation conditions
understandable to foreign
countries in Belarus

46. Reasons to invest in Belarus
Governance Protection
 Established legislative,  Investment code:
judicial and executive system  guarantees for investors
 Business engagement in  legal right to appeal
Belarus:  member of the World
 Foreign Investment Intellectual Property
Advisory Council Organisation
 Belarus-EU Business  Copyright laws
Cooperation Council  June 2012 - new Investment
 Council for law
Entrepreneurship

47. Reasons to invest in Belarus
Environment Decent living standards
 The living, dwelling costs, the
 A safe, clean, friendly place to costs of education and
live and work with high various cultural events are
educational standarts low
 A developed social
infrastructure
 Eco-environment suitable
for full and diverse life of
people
 The best environment
rating among all the CIS
countries

48. Base of successful bilateral
relations
 Recuperation of Belarusian children in Italy
 Warmth, trust, gratitude and kind-heartedness
 Belarus - gateway to cooperation between the West
and the East

49. Mutual Interest: Belarus
Attracting
Italian
investments
in the Purchasing
economic high-tech
sector equipment
Stepping
Benefits
up energy
for
saving Increasing
efforts
Belarus export
Upgrading supplies
Enhancing the existing
labour production
efficiency facilities

50. Mutual Interest: Italy
 Industrial, scientific and Incentives Potential
export potential
 Social, political and economic Stability
stability
 Inexpensive but highly skilled Labour force
labour force
 Reasonable infrastructure
Infrastructure
prices prices
 The favourable geographical
location Location
 Preferences in the Belarusian
free economic zones FEZ
 The infrastructure adapted to
the needs of foreign business Adappted
infrastructure

51. Branches of interest for Italy
Branches Environment protection
Energy conservation
Agriculture
Woodworking
Granite proccessing
Manufacturing footwear
Clothing
Cosmetics
Pharmaceutical production
Chemical production
Credit sphere
Tourism
Logistics

52. Trade Belarus-Italy 2011
 $150 million of net italian direct investment
 On the whole, Italian investors put nearly $200 million in the
Belarusian economy
 Record high trade turnover with Italy of nearly $1.5 billion
 The export grew 2.8 times
 The import increased by 25%
 April 2012 Italian Day in Brest
 The Italian economy is represented mostly by small and
medium-sized business (90-95% of the total)
 Bilateral cooperation is based on small economic projects
worth of €3-10 million
 There are several large projects from €30 million to several
billions

53. Dynamics of Belarussian-Italian Trade
1=$100 mln
30
25
20
Import
15
Export
10 Turnover
5
0
2004 2005 2006 2007 2008 2009 2010 2011

54. Belarus-Italy:
Bilateral Relations
Belarus’ supplies to Italy Italy’s supplies to Belarus
• wire and semi-finished • technology and
products made of carbon steel
• machines Belarus uses to
• hardware
modernise its industry and
• leather goods
upgrade production
• lighting equipment
facilities
• glass fiber
• ready-made clothes
• synthetic threads
• potash fertilizers
• wooden structures

55. Investment projects
“They might influence the investment climate in Belarus and
Italy, and the European Union in general,” Yevgeny
Shestakov, belarussian ambassador in Italy.
 4-5 main investment projects with the
participation of Italian investors
 a project on Minsk transport
infrastructure, i.e. the construction of a hoist
ring and rail network development
 constructing a modern gas-fired plant. The
cost of the project is estimated at €300-400
million
 the production of high quality ceramic glass

56. Belarus-Italy:
Credit-Investment activity & Joint Ventures
Belarusian-Italian
There are 60 companies in joint ventures and
Belarus with the Italian foreign enterprises:
ownership. Every year there • Belita (makeup)
emerge new joint projects in
such areas as: • Dinamo Program Pinsk
(outer garments)
• energy saving,
• Bitrans (shipping and
• woodworking, forwarding services)
• production of medical preparations • Italiano-Ricambi (car and
• tourism truck maintenance)
• Bedocci (woodworking)
 A joint venture to produce
• surgical sutures
• electric heating units
 A project on setting up a
joint transportation-
logistics centre

57. Use of Italian technologies
 The National Library of Belarus
 The modern railway terminal
in Minsk, the House of Mercy

58. Belarus-Italy:
In Search of New Opportunities
 For Belarus it is beneficial to
participate in various exhibitions in
Italy. Italy is a trendsetter in many
spheres. Businessmen come to Italy
from every corner of the world. The
exhibitions help Belarusian
manufacturers gain a better
exposure and toehold into the
global market.
 “We view Italy as a privileged
partner and we are ready to create
the most favorable environment for
bilateral cooperation,” said the
Belarusian President

59. New Investments in
Ukraine and Belarus
& Growing Interest
in
“Made in Italy”

61. In order to be
certified ‘Made in Manufactured
completely in
Italy’, a product has Italy
to respect the
following Made in
accordance
requirements: with security
and health
criteria
Constructed
with first
choice, high
quality, natural
materials

62. If a product satisfy/fulfil these requirements they
can receive „Made in Italy 100% certification‟ by the
Institute for the Protection of Italian
Manufacturers. (Istituto per la Tutela dei Produttori
Italiani).
The guaranteed label,
„Made in Italy‟ was born
in 1990, and is
applicable to any sector.
The authentication
100% „Made in Italy is
given only after an
inquiry verified by the
Institute for the
Protection of Italian
Manufacturers.

63. The Made in Italy denomination ought to denote the actual and
total provenance and production in Italy of the article that bears its
name; 'ought' because unfortunately in many cases this is not so.
In fact, many products have the Made in Italy brand
even though they are almost entirely made abroad!

64. “Made in Italy” is the third most
recognized brand in the world, just
after Coca-Cola and Visa.
*Source KPMG 2012

65. Both Ukraine and Belarus were part of
USSR.
The economy was entirely planned by
the State, that is the Communist Party.
Few chances of free market.

66. After the Fall of Soviet Union they had
to face many social and economic
changes
They needed to transform their
economies in order to attract foreign
investments

67. The importation of goods from abroad is
constantly growing both in Ukraine and Belarus.
Importations from Italy:
• Ukraine +44% in • Belarus +25% in
2011* 2011*
Italy is the third business Great potential but less
partner of Ukraine dynamic economy
*Compared to 2010, Source ISTAT.

68. UKRAINE: BELARUS:
• Mechanical Machineries • Mineral Products
• Furniture • Mechanical Machinery and
• Clothing equipments
• Electrical Machineries
• Vehicles
• Footwear
• Plastics • Metals
• Garments, knit dresses • Chemicals and the like
• Iron, steel, cast iron • Food
• Combustibles and Fuels**
• Textiles
• Ceramic products

70. THANKS – СПАСИБО
New Investments in Ukraine and Belarus
and the Growing Interest in“Made in Italy”
Prof. M.R. Buri
Katerina Yasemchyk
Julija Koshchii
Massimiliano Macrì
Natalia Semiankiv
Olga Belash

71. To Estimate: to form an approximate idea of (distance, size, cost, etc.); calculate roughly; gauge.
STIMARE , VALUTARE.
Oblast: an administrative division or region of Russia and the former Soviet Union countries.
OBLAST’.
Hryvna: the standard monetary unit of Ukraine, divided into 100 kopiykas. GRIVNA.
Per Capita: of or for each person. A TESTA, PRO CAPITE.
Watershed: 1) the dividing line between two adjacent river systems, such as a ridge 2) an important
period or factor that serves as a dividing line. SPARTIACQUE, (fig) SVOLTA.
Ruble/ Rouble: the standard monetary unit of Belarus and Russia, divided into 100 kopecks.
RUBLO, COPECO
Enact: 1) to make into an act or statute 2) to establish by law; ordain or decree.
RAPPRESENTARE, PROMULGARE, APPROVARE.
Pulp/ Pulpwood: a moist mixture of cellulose fibres, as obtained from wood, from which paper is
made. POLTIGLIA DI LEGNO.

72. Turnover: the amount of business, usually expressed in terms of gross revenue, transacted during a
specified period. GIRO/VOLUME D’AFFARI
Friendly-business environment:
Untapped: not yet used. NON SFRUTTATO/UTILIZZATO.
Niche Market: a demand for a very specialized product or commodity. MERCATO DI NICCHIA.
Insurmountable: incapable of being overcome. INSORMONTABILE.
Limited liability company (ltd): a company whose owners enjoy limited liability for the company's
debts and losses. SOCIETA’ A RESPONSABILITA’ LIMITATA (srl).
VAT: abbreviation for value-added tax: a tax levied on the difference between the cost of materials and
the selling price of a commodity or service. IVA (Imposta sul valore aggiunto).
Capital or Fixed assets: nontrading business assets of a relatively permanent nature, such as
plant, fixtures, or goodwill. ATTIVITA’ FISSE, IMMOBILIZZAZIONI.
Levy: the act of imposing and collecting a tax, tariff, etc. TASSA, IMPOSTA.
Clay: ARGILLA.
Peat: TORBA.
Sugar Beet: BARBAIETOLA DA ZUCCHERO.

73. Crossroads: the point at which an important choice has to be made. CROCEVIA, SVOLTA.
Cattle Breeding: ALLEVAMENTO DI BOVINI.
Woodworking: FALEGNAMERIA, CARPENTERIA.
To Be Operational: ESSERE FUNZIONANTE/ATTIVO.
To Be Underway: in progress; in operation. ESSERE IN MOTO, IN CORSO.
Ongoing Trend: TENDENZA IN CORSO.
To Boost the Sales: to increase or raise smth. AUMENTARE LE VENDITE.
To Set up Enterprises: APRIRE UN’AZIENDA/UN’ATTIVITA’.
To Complement: to add to, make complete, or form a complement to.
INTEGRARE, COMPLETARE QLC.
To Showcase: a setting in which anything may be displayed to best advantage. SERVIRE COME
TRAMPOLINO DI LANCIO.

74. GDP: Prodotto Interno Lordo PIL
GNP: Prodotto Nazionale Lordo PNL
GNI: Reddito Nazionale Lordo RNL
Planned/Command Economy: an economy in which production, prices and incomes are decided
and fixed by the central government . ECONOMIA PIANIFICATA
(Free) Market Economy: A market economy is an economy in which decisions regarding
investment, production and distribution are based on supply and demand, and the prices of goods and
services are determined in a free price system. LIBERO MERCATO
Mixed Economy:is an economic system in which both the state and private sector direct the
economy, reflecting characteristics of both market economies and planned economies. ECONOMIA
MISTA
USSR Union of Soviet Socialist Republics: Unione delle Repubbliche Socialiste Sovietiche
URSS
CIS: Commonwealth of Independent States (a group of independent countries that were part of the
Soviet Union until 1991). CSI (Comunità Degli Stati Indipendenti)
Kolkhoz: is a coinage used for the rural economics of collective farming in the Soviet Union.
KOLCHOZ
Chairman: PRESIDENTE
To get a Toehold in : FARE BRECCIA IN (mercato, organizzazione)
Trendsetter: CHI LANCIA NUOVE TENDENZE
Developing Countries: poor countries trying to make their industry and economic system more
advanced. PAESI IN VIA DI SVILUPPO.
Counterfeit: FALSIFICAZIONE, CONTRAFFAZIONE

75. To Draw up Contract: STILARE/REDIGERE UN CONTRATTO
To Testify sth: TESTIMONIARE
trade turnover : GIRO D’AFFARI COMMERCIALE
semi-finished products : SEMILAVORATI
cooperation avenue: POSSIBILITA’ DI COOPERAZIONE
DOP, Denominazione di Origine Protetta : PROTECTED DESIGNATION OF ORIGIN
VAT value-added tax : IVA imposta sul Valore aggiunto
to enter new markets: PENETRARE IN ALTRI MERCATI
Headquartered in : AVERE IN QUARTIER GENERALE, SEDE PRINCIPALE.
to play a key role: GIOCARE/SVOLGERE/AVERE UN RUOLO CHIAVE/CENTRALE
Branch: FILIALE, SUCCURSALE
Custom Duties: TASSE/DAZI DOGANALI
under constant scrutiny: ESSERE SOTTO COSTANTE SORVEGLIANZA
to meet a target: RAGGIUNGERE UN OBIETTIVO
to carry out a project: PORTARE AVANTI UN PROGETTO
talks are underway with on sth: LE TRATTATIVE SONO IN CORSO
to settle a problem: RISOLVERE UN PROBLEMA
to render assistance: PRESTARE ASSISTENZA
to foster bilateral contacts: INCORAGGIARE/PROMUOVERE CONTATTI BILATERALI
trade surplus: ECCEDENZA DELLA BILANCIA COMMERCIALE
Ownership: POSSESSO/ PROPRIETA‟
Inflation: INFLAZIONE
To be byword for: ESSERE SINONIMO DI

76. Middle class: CLASSE MEDIA
Education system: SISTEMA EDUCATIVO/SCOLASTICO
Reforms: RIFORME
Legislature: LEGISLATURA
Permit system:
Licensing Authority: AUTORITA’ CHE RILASCIA AUTORIZZAZIONI PER qlcs
Tax legislation: LEGISLAZIONE TRIBUTARIA
Deregulation: DEREGOLAMENTAZIONE
Bureaucracy: BUROCRAZIA
Corruption: CORRUZIONE
Financial instruments: STRUMENTI FINANZIARI
Tax rates: ALIQUOTA D’IMPOSTA
Income tax: IMPOSTA SUL REDDITO
Value added tax (VAT): IVA imposta sul valore aggiunto
VAT reimbursement: RIMBORSO IVA
Exemption from income tax: ESENZIONE DELL’IMPOSTA SUL REDDITO
State registration:
Monetary policy: POLITICA MONETARIA
Loan: PRESTITO/ MUTUO
Foreign direct investments (FDI) : INVESTIMENTI ESTERI DIRETTI
Commercial exchange: SCAMBIO COMMERCIALE
Economic activity: ATTIVITA’ ECONOMICA
Domestic economy: ECONOMIA INTERNA

77. Target audience: TARGET DI PUBBLICO
show interest towards: MOSTRARE INTERESSE VERSO
tax exemption : ESENZIONE FISCALE
preferential regime: REGIME PREFERENZIALE
Taxation: TASSAZIONE
Optimization : OTTIMIZZAZIONE
network of: UNA RETE DI
Motorway: AUTOSTRADA
Railways: FERROVIA
traffic capacity :
to intervene in sth : INTERVENIRE IN QLCS
privatised businesses: PRIVATIZZAZIONE
speedy development: VELOCE SVILUPPO
step up : AUMENTARE/ INTENSIFICARE
the governmental sector: SETTORE GOVERNATIVO
strategic investors: INVESTITORI STRATEGICI
step-by-step privatization:
jointly with : CONGIUNTAMENTE
introduces modern approaches: INTRODURRE MODERNI APPROCCI
conditions understandable:
High Technologies Park (HTP):
exceptional opportunities: ECCEZIONALI OPPORTUNITA‟
IT industry: INDUSTRIA INFORMATICA

78. to be free from all taxes:
to be physically located: ESSERE FISICAMENTE LOCALIZZATO
enjoy the rights: GODERE DI DIRITTI
to be in demand: ESSERE RICHIESTO
biotechnologies : BIOTECNOLOGIE
software development: SVILUPPO DI SOWTWARE
acquisition : ACQUISIZIONE
Assets: BENE, VANTAGGIO, RISORSA
to inflict losses : INFLIGGERE/SUBIRE PERDITE
Fledged: EFFETTIVO / ESPERTO
Copyright law: LEGGE SUI DIRITTI D’AUTORE
Free Economic Zones:
Tax Burden: PRESSIONE FISCALE
Tax Allowance: SGRAVIO/DETRAZIONE FISCALE
Tax Exemption/immunity : ESENZIONE FISCALE
Tax Relief/break : AGEVOLAZIONE FISCALE
Wordy: PROLISSO, VERBOSO
Cast Iron: GHISA
Spending/Purchasing Power: POTERE D’ACQUISTO
Literacy: ALFABETIZZAZIONE
Import levy/duty: TASSA SULLE IMPORTAZIONI