Italy Launches EUR1 Billion Sovereign Wealth Fund to Boost Domestic Industry
By Mauro Orru
Italy has established its own sovereign wealth fund with an
initial budget of 1 billion euros ($1.07 billion), in a move aimed
at securing supplies of critical raw materials to boost key
The Ministry of Enterprises and Made in Italy outlined the
decision late Wednesday after the right-wing government of Prime
Minister Giorgia Meloni approved a bill promoting local industries,
rolling out a number of regulations to protect domestically-made
products from counterfeits.
The so-called Made in Italy bill is a key pillar of Meloni's
strategy. After taking power from Mario Draghi, her administration
moved to rename what was the Ministry of Economic Development to
the Ministry of Enterprises and Made in Italy.
Write to Mauro Orru at firstname.lastname@example.org; @MauroOrru94
(END) Dow Jones Newswires
June 01, 2023 05:40 ET (09:40 GMT)
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