Our country is strengthening its posture through key infrastructure projects, writes the president of Simest on “Longitude” Here are the efforts to improve the resilience of supply chains, especially for renewable energy and semiconductors
02/07/2024
Its strategic position allows Italy to play a crucial role in connectivity and economic competitiveness. This was written in a recent article in the magazine LongitudeAnd Pasquale Salzanodiplomat, president of Simest and director of European and International Affairs of Cassa Depositi e Prestiti.
In a context of rising global tensions and disruptions in value chains, Italy is focusing on new ways to mitigate risks and ensure the resilience of supply chains, especially those critical for renewable energy and advanced semiconductors. The Covid-19 pandemic, the conflict in Ukraine and tensions between major world powers have significantly impacted global trade, Salzano notes. Disruptions to shipments through critical routes such as Bab-el-Mandeb and the Suez Canal have highlighted the fragility of our infrastructure. “These events have exposed the fragility of infrastructure, prompting a gradual restructuring of global value chains,” Salzano noted. For this reason, several countries, including Italy, are adopting strategies of reshoring e nearshoring to diversify and regionalize trade and align more closely with geopolitically stable partners.
By investing in sustainable infrastructure and fostering strong trade ties with Africa and other regions, Italy ensures the stability and growth of global value chains, consolidating its position in global geopolitics and economic development. Salzano referred to the European Union’s Global Gateway initiative and the United States’ Infrastructure Investment and Jobs Act as part of broader efforts to improve global connectivity, as well as the G7 Partnership for Global Infrastructure and Investment (PGII), which further underscores the commitment to sustainable infrastructure, also with the willingness to coordinate efforts with the Meloni government’s Mattei Plan. “These infrastructure projects aim to ensure the reliability of companies’ supplies, both through the consolidation of strategic partnerships and through a marked diversification of international supply chains,” Salzano noted.
As G7 president, Italy is at the forefront of these developments, promoting projects that enhance regional integration and support Mediterranean ports. In addition, Italian ports in the Mediterranean and the Balkans are becoming central hubs for trade, capitalizing on the logistical advantages of Italy’s geography. “Italy, through its leadership in the G7 and initiatives like the Mattei Plan, has positioned itself to play a critical role in shaping a more resilient international economic order,” Salzano concluded.
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