Lazios economy goes foreign

Foreign investment in Rome and Lazio has grown steadily over the past five years. At the beginning of the decade there were 391 foreign-owned companies in the region. The figure for 2005 is estimated at 550, according to calculations made by Sviluppo Lazio, the regional development agency, and published in the Italian daily Corriere della Sera. About 33,000 more locals are employed by foreign firms now than in 2000. The trend is set to continue with most foreign investors citing the quality of Lazios human resources, the strong local market, the abundance of local service providers and excellent geographical location as major factors attracting them to the region. On the down side, the relatively poor infrastructure and excessive bureaucracy were mentioned as the most negative aspects of investing in Lazio.

In the last ten years Lazio has become one of Europes most competitive labour forces in high-tech sectors such as information technology and aerospace, in particular in the satellite communications field. According to Sviluppo Lazio, in the last few years one job in every ten created in the region has been in the high-tech sector.