Italian Premier Giorgia Meloni’s cabinet approved a range of measures that include strengthening the government’s control over technology transfers abroad and spurring foreign investment.
(Bloomberg) — Italian Premier Giorgia Meloni’s cabinet approved a range of measures that include strengthening the government’s control over technology transfers abroad and spurring foreign investment.
In their final cabinet session before the summer vacation, Meloni and her ministers ratified some unfinished business in a so-called omnibus “assets and investment” decree, Industry Minister Adolfo Urso said at a joint press conference with other colleagues Monday.
One section deals with technology transfers abroad both within and outside a company, giving the government extra powers to control what can be transfered in fields including artificial intelligence, semiconductors, cybersecurity, aerospace and energy, Urso said.
Another measure empowers the government to nominate an extraordinary commissioner for large inflows of foreign funds to simplify and speed up procedures. That’s part of Meloni’s plan to spur investment in the country while maintaining a strong grip on the process.
Other norms deal with competition and consumer protection issues, with Meloni trying to satisfy different parts of her governing coalition and electorate.
An overhaul of the taxi sector aims to enable the issuance of extra licenses to deal with high demand linked to tourism and special events like the upcoming 2025 Jubilee in Rome and the Milan-Cortina Winter Olympics in 2026.
Italy’s competition authority opened a probe into the taxi sector last week saying it had found major problems with services in cities including Rome, Naples and Milan.
The decree also clamps down on airlines’ use of algorithms to set ticket prices — particularly for internal connections to the islands of Sicily and Sardinia — to try to protect consumers against sudden spikes in prices.
Other items include aid for the wine and fishing sectors and assistance for smaller towns in paying for infrastructure works.
Deputy Premier Matteo Salvini also said a measure taxing banks’ extra profits, limited to 2023, was approved. The proceeds will be used to help cut taxes and help citizens with mortgages on their first home.
(Adds minister comments, details from the second paragraph.)
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