PIEMONTE CONFIRMS ITS POSITION AMONG EUROPE’S TOP REGIONS FOR FOREIGN INVESTMENT ATTRACTION ACCORDING TO THE FINANCIAL TIMES, WHILE TORINO MAKES ITS DEBUT IN THE RANKING

Over the past four years, foreign investments in Piemonte have increased by more than 80%, reaffirming the effectiveness of the region’s strategy and earning it once again prestigious recognition from the Financial Times. The publication fDi Intelligence, specialized in foreign direct investments, has once again awarded Piemonte in the "Large Regions" category for its investment attraction strategy. For the first time, Torino also enters the Top 10 of large European cities for its ability to attract foreign capital.

Torino, February 14, 2025 – The new edition of the Financial Times report European Cities and Regions of the Future 2025 confirms Piemonte’s strong position in 6th place among Europe’s large regions for its foreign investment attraction strategy. For the first time, the report also highlights the city of Torino, which, just months after being named European Capital of Innovation, ranks 6th among large European cities for the best investment attraction strategy.

This achievement is the result of a collective effort made possible by the collaboration between Regione Piemonte, all Piemonte Chambers of Commerce, the City of Torino and Piemonte Agency. A structured and synergic strategy has led to yet another prestigious success for the region. The Financial Times recognition underscores the effectiveness of Piemonte’s strategy on a European level, acknowledging the concrete efforts of local institutions in fostering high-quality investments, generating employment and economic growth, and supporting multinational companies already established in the region.

This winning collaboration has, over the past year alone, promoted the region at major international events such as MIPIM in Cannes - where Piemonte will once again take center stage from March 11-14 - or through the institutional mission to London, which showcased Piemonte’s high-value investment opportunities to key stakeholders and senior executives of leading global companies. These high-level events have highlighted the region’s competitive advantages and the role of institutions in providing support and guidance through structures like the Investment Attraction Team.

In recent years, Piemonte has become an increasingly attractive destination for foreign investors. Ernst & Young’s Attractiveness Survey Italy 2024 further confirms this trend, ranking Piemonte as the second Italian region for the number of foreign investments, thanks to its strategic location and the presence of some of the most competitive industrial clusters on an international scale. Data processed by Piemonte Agency highlight significant growth: while between 2014 and 2020, the average number of foreign direct investment (FDI) projects initiated or announced in Piemonte was 7.7 per year, in the period 2021-2024, this figure rose to 22.7, reaching a peak of 27 projects in the past year. Overall, from 2021 to 2024, there has been an 80% increase in initiated or announced FDI projects in the region.

Piemonte stands out in Italy for the presence of foreign-controlled companies, with over 4,000 local units, 150,000 employees, an added value of €12 billion (18% of the regional total), and a turnover of €46 billion (approximately 20% of the regional total) (source: Confindustria-Luiss). According to Observer, Piemonte’s observatory on multinationals, the leading countries of origin are France (19.78%), Germany (15.81%), the United States (13.49%), Switzerland (8.36%), and the United Kingdom (6.79%). Among those with registered offices in the region, 65.99% are located in the province of Torino, followed by Cuneo (10.43%) and Novara (8.94%). Sector-wise, 37.33% operate in manufacturing, 25.33% in commerce, and 8.53% in scientific and technical activities. Notable recent investments include Silicon Box, Amazon, MSC Technology, Bulgari (LVMH), Cartier, Coca-Cola, FedEx, Aixtron, and Luxoft. Additionally, foreign industrial enterprises in Piemonte position the region as the second in Italy for employment and added value generated (source: TEHA Group).

Further confirming Piemonte’s growing international standing, Piemonte Agency's’s figures within the framework of the Investment Attraction Project in collaboration with Regione Piemonte and all Piemonte Chambers of Commerce show that in the past two years, 440 foreign companies have been identified and engaged at various levels of interest in investing in the region. Of these, 230 dossiers have been assisted in business planning, business setup, site selection, identification of incentives, and post-investment needs (aftercare). In 2024, the top five countries of origin of foreign companies identified by Piemonte Agency were the United Kingdom (15.4%), Germany (11.7%), the United States (10.4%), France (9.3%), and Canada (5.4%), while the top five investment sectors were Real Estate (17.8%), Automotive & Transportation (15.7%), Aerospace (14.3%), Health & Wellness (11.3%), and ICT (9.8%). The top three provinces in Piemonte assessed for settlement were Torino (49.3%), Alessandria (8.3%), and Novara (6.5%).

Alberto Cirio, President of Regione Piemonte, and Andrea Tronzano, Regional Minister for Economic Development, stated: “The Financial Times ranking rewards the great work carried out in recent years, during which we have collaborated with all key stakeholders to enhance Piemonte’s attractiveness and promote our region as a prime location for productive and entrepreneurial investments, both Italian and international. This is an ongoing commitment, particularly in strategic sectors, as reflected in the dynamic developments in AI and microchips, where Piemonte plays a leading role, starting with Silicon Box’s €3 billion investment in Novara and the region’s leadership in the European alliance. In this context, a system mission to Michigan is also planned in the coming weeks to meet with businesses, institutions, and investors to foster synergies and collaborations within the automotive sector”.

Stefano Lo Russo, Mayor of Torino, commented: “For the first time, Torino enters the Top 10 of large European cities for its ability to attract foreign capital. This news fills us with pride and confirms that the path taken to make our city increasingly attractive to investors and businesses is the right one. Torino has the potential to grow further thanks to its international, academic, and industrial vocation. Strengthening our efforts to attract more foreign investment represents a crucial development trajectory for the future of our businesses and the region”.

Gian Paolo Coscia, President of Unioncamere Piemonte, added: “This new recognition makes us proud and motivates us, as the Piemonte Chamber System, to work even harder on the factors that can enhance our region’s attractiveness, with the goal of fostering economic growth, encouraging innovation, and creating new job opportunities. In this context, infrastructure and transport play a crucial role. Internationalization requires a region that is open and directly connected to global markets. Torino-Caselle Airport, as a vital access point, plays a fundamental role in commercial development and regional attractiveness. Strengthening business flight connections is a strategic priority. Increasing direct flights to major EU and non-EU economic centers enhances the competitiveness of Piemonte’s businesses, facilitating exports and attracting foreign capital. A well-structured business flight network also supports the organization of events, conferences, and trade fairs, generating a significant tourism-related economic impact. This is the path to projecting a successful international image of our Piemonte.”

For Dario Gallina, President of the Torino Chamber of Commerce: “The confirmation comes from the most prominent and prestigious international stakeholders that our joint efforts are moving in the right direction. What has been recognized is precisely our investment attraction strategy, a shared commitment that brings together information, tailored services, support for existing multinationals, and international missions, all presented with a unified voice by institutions and the chamber system.”

Dario Peirone, President of Piemonte Agency, highlighted: “This new recognition crowns a record year for investment attraction activities and reaffirms the effectiveness of Piemonte Agency’s strategy. The debut of Torino in the Financial Times ranking further strengthens the international visibility of our region. With investment growth in Piemonte exceeding 80% over the past four years, the results highlight the impact of our work, based on an approach that combines market intelligence, strategic agreements with international players, targeted investor support, and the promotion of the opportunities our region offers abroad”.