Monday 19 July 2021 – 12:09
CNPR: Biotech and Fintech growth opportunities for companies
Forum of the Cassa of Accountants with politicians and institutions
Milan, July 19 (askanews) – Biotech and Fintech as growth opportunities for companies: the pension fund of accountants and accounting experts, chaired by Luigi Pagliuca, called politicians and institutions to discuss during a webinar attended by over 3,000 participants. Giulio Centemero, Northern League deputy in the Finance Commission underlined that important steps have been taken on the issue to encourage the entire fintech sector. “The creation of the sandbox for start-ups operating in technological finance, that is to say an experimental environment for new economic and financial activities, makes it possible to find the right place for these new realities that are crushed by the enormous bureaucracy – he said. Centemero – With the Growth Decree, important steps forward have been made on this issue, with the establishment of the Interministerial Committee which sees the presence of the Mef, the Mise, Bankitalia, Consob, Ivass, with the specific objective of carrying out in the best possible way modifying the 18-month ‘incubation’ of start-ups, defining increasingly precise and updated rules for companies operating through new financial instruments. A reality from which it is possible to create value and new jobs ”.
According to Sestino Giacomoni (Forza Italia), president of the Supervisory Commission on Cassa Depositi e Prestiti and vice-president of the Finance Commission in Montecitorio “it is necessary to address the savings of Italians in the real economy through tax incentives and the use of new tools offered by Fintech and Biotech “. “We have to overcome the paradox we are experiencing in Italy where, on the one hand, we have thousands of companies that risk dying from lack of liquidity, and on the other, over 1,700 billion euros of savings parked in banks without any profit – underlined Giacomoni. – One of our historic battles to move this situation was the introduction of Pir, the individual savings plans that allow you to invest in Italian companies by moving fixed assets. This would be another Recovery entering the real economy. Adding all this liquidity – Giacomoni concluded – would help the growth of the country by focusing on Made in Italy. In the first year, the PIRs raised over 20 billion euros, we need to continue on this path ”.
Mattia Mor, deputy of Italia Viva in the Productive Activities Commission focused on the opportunities offered by the new financial instruments: “Fintech, like all other development sectors, is one of those sectors where Italy must invest in order to grow – he said – We have several success stories in Italy such as, Satispay, Moneyfarm and many others. However, our country still lags behind other global and European competitors both in terms of the number of companies and in terms of funding obtained in this tech and digital sector. We have tried to incentivize private investments reaching 700 million in 2019 in ‘venture capital’, but these are numbers 10 times lower than in cutting-edge countries. We can’t go on like this. Italia Viva has been pushing for some time to increase the tax reduction on individuals who invest and on that for companies that buy start-ups; in the support decree, the taxation on capital gains for those investing in start-ups was eliminated, encouraging pension funds and funds to invest in this field. A very broad bill that seeks to give a boost so that Italy makes up for the gap “.
The attention of politics to fintech was also confirmed by Davide Zanichelli, deputy of the M5s in the Finance Committee: “Fintech is a decisive sector for Italy’s economic recovery – argued Zanichelli – Here we have a fabric of brains dynamic that makes us a country with enormous development potential in these sectors. The conditions must be created to compete on an equal footing with the rest of the world. It is a sector that allows companies to develop new forms of credit and liquidity with effects that reverberate throughout the economy. We have set up a € 1 billion innovation fund for this very purpose. If we want to give the final acceleration, it is appropriate to clarify the virtual currency sector. As for the fiscal part, we have thought about a simple proposal with the aim of making a fiscal ecosystem for virtual currencies that is clear and simple. There are all the conditions to develop this sector by increasing the value of those who buy goods and services in these ways ”.
The need to restart after the economic crisis linked to Covid-19 was underlined by Claudio Cavallo, advisor of the National Institute of Accounting Experts: “The Covid impact in the world of financial services has been very strong. The banks themselves have increased resources for IT security and strengthened the technological and digital relationship with customers – said Cavallo – We still have many doubts about digital payments, crowdfunding platforms. We need to move quickly to an improvement in all these sectors ”.
Paolo Longoni, director of the CNPR, highlighted that “the sandbox for fintech companies is one of the most desirable measures as a model for de-bureaucratising other sectors”. “It just scares me that the committee includes subjects such as Ivass, Bankitalia, various guarantors, the Revenue Agency – added Longoni – a series of subjects who do not stand out for their ability to be agile and unbureaucratized. But it is the means that is needed, and the Funds could invest more precisely in the absence of authorization and supervisory excesses. Innovation is the future of our economy and it must make us think of a better future that can exist also and above all if the legislator listens to the professions ”. (in the photo, clockwise from left: Centemero, Giacomoni, Mor, Longoni, Cavallo and Zanichelli)