Made in San Marino - english version

Year III July-August 2011 n. 4

in san marino

C ONTENTS

INFORMATION MAGAZINE PUBLISHED BY THE CHAMBER OF COMMERCE OF THE REPUBLIC OF SAN MARINO

Investing in San Marino Chocotitano 2011 Analysis of the Economic Situation Members’ area Young Entrepreneurs

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Audience Hall of Their Excellencies the Captains Regent Sala delle Udienze dei Capitani Reggenti

E DITORIAL Massimo Ghiotti - General Manager

Knowing is not enough; we must apply. Willing is not enough; we must do.

Johann W. Goethe (poet)

Transforming ideas into products, patents, jobs.

Ensuring the encounter of the world of research with that of manufacturing activities, developing advanced technology and thus strengthening the Country’s competitive edge.

These are the goals of the cooperation being implemented between the University and companies which, according to the agreements between San Marino and Italy, will find its utmost expression in the building of the Scientific Technological Park. A path which projects the Republic of San Marino among the protagonist Countries when it comes to development policies; a one-of-a-kind project which, in view of the country’s size, contemplates cooperation with neighbouring Italian regions (Emilia Romagna and Marche). Focusing on a knowledgebased society thus represents a strategic choice for producing innovation, research and quality

manufacturing, thereby favouring economic recovery.

But if innovation and research are the key to the future, human resources and managerial skills are the prime movers. Countless examples exist that show how investing in the skills of individuals is by far the most fruitful, both in terms of technological-scientific progress and from an economical viewpoint. Suffice it to mention the case of Stanford University. Because it held the patent relating to the PageRank algorithm developed by Larry Page (founder of Google together with Sergey Brin), it received Google shares worth 1.8 million dollars in exchange for the long-term exploitation rights. This resulted in a profit of 336 million euro, the highest ever obtained by the university for having resold a technology created within the campus. Probably the highest ever obtained by any university based on a single invention.

It is therefore important for the Scientific Park to move in step with an increase in courses in the scientific and application field: to enable

students to undertake specific applications for companies and the University to promote research projects potentially able to contribute to its upkeep and to future investments.

Furthermore, it should not be forgotten that in recent decades, at the helm of successful companies, to an increasing extent, have been youngsters with specific technical skills; youngsters with an all-round view of economic and technological evolution in the world and able to insert themselves in an innovative way in sectors otherwise saturated or to even invent new ones.

Increasing focus must therefore be put on new ideas. The new generations must be given a chance to put into practice what they have learned in years of study. We must invest in professional skills and, at the same time, create an environment such as to ensure these skills take shape and are placed at the disposal of companies.

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C ONSULTANCY

INVESTING IN SAN MARINO SMALL REPUBLIC, BIG BENEFITS Doing business in the world’s smallest Republic has its benefits. Not only because the country’s strategic position in the heart of Italy makes it easy to reach from all major European capitals, but above all because investors are able to benefit from a slimlined tax system, tax relief for technologically-innovative projects, safe investments and a direct link with institutions.

The Chamber of Commerce places at the disposal of its clients a professional consultancy service managed by Dr. Federica Tonelli, Head of the Legal Department.

For appointments: 0549.980380 – info@cc.sm

KEY FACTS • Corportate tax: 17% • No Vat • “Single-phase”tax : 15% (on imported goods and import-related services. Tax applied to the full value of goods imported into San Marino) • Tax relief for profits reinvested in technological innovation and non-tangible assets • Environmental safeguard: tax relief for profitsreinvested in energy-saving and anti-pollution processes • Official relations with 107 Countries, 100 of which at diplomatic level • Support given to R&D activities • High number an quality of University graduates • Tourism: 2.1 million visitors per year 38% of all businesses operate in the services, IT and real estate sectors (13,6% share of GDP) 26% of all businesses operate in the trade sector (13,5% share of GDP) 10% of all businesses operate in the manufacturing sector (33,3% share of GDP) 2% of all businesses operate in the credit and insurance sector (17,6% share of GDP)

Via Cinque Febbraio - 47899 Serravalle Republic of Repubblica di San Marino Tel. (+378) 0549 900190 - Fax (+378) 0549 960125 info@palacehotelsanmarino.com

The La Miglior Best Idea Soluzione to be per the ilProtagonist Tuo Evento 2 july-august 2011

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www.palacehotelsanmarino.com

E VENT

CHOCOTITANO Borgo Maggiore 29-30 October 2011 What is the best way to say goodbye to summer and welcome in the fall?

What is the best idea for spending a carefree and tasty weekend for the whole family, with friends or with someone you love?

The answer is easy: CHOCOTITANO! Saturday 29 and Sunday 30 October, the sweetest event of them all will be back in the Republic of San Marino.

In the magic atmosphere of the old-town centre of Borgo Maggiore, let yourself be overwhelmed by chocolate in a thousand shapes, to be discovered through guided tastings, in the Chocolate School and by means of the many new proposals made by San Marino and Italian chocolate manufacturers, confectioners and craftsmen, who will tempt you will all kinds of delights and a pinch of audacity.

And for the real fans, the ChocoRestaurants will be back with original cocoa and chocolate-based menus and sweet competitions with lots of mouth-watering prizes to be won!

As usual, special focus will be placed on children. For them, plenty of fun, entertainment and games and, of course, sweet delights…

Chocotitano 2011: pass it on! www.chocotitano.com

organized by:

with the collaboration:

with the support:

with the contribution:

with the collaboration:

ENTE CASSA DI FAETANO

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A MOUTHWATERING OFFER!!!

Accommodation package “Discovering a mountain of chocolate” Book your weekend in San Marino by 29 September and you’ll receive a 10% discount on the package as well as lots of tasty free gifts.

INFO: www.sanmarino2000.sm

YOUR WEEKEND IN SAN MARINO The price includes: • One overnight stay with breakfast • One dinner in a restaurant in the old-city centre of San Marino • Block of tickets for the tasting sessions offered by the San Marino Chamber of Commerce • Bottle of wine offered by the Consorzio Vini Tipici • Information kit; discount card valid in participating shops in old-city centre; 50% discount card for admission to State Museums.

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la fier a del Cio ccolato 29-30 OTTOBRE 2011

a cura:

4* Hotel rate starting at € 80,00 3* Hotel rate starting at € 68,00 2* Hotel rate starting at € 59,00

Camera di Commercio Repubblica di San Marino

BORGO MAGGIOR Repub p blica San Ma E rino www.chocotitano

.com

in collaborazione:

Giunta di Castello Borgo Maggiore

Rates are per person in double room Saturday 29 October Excursion into the country to learn more about the Republic of San Marino in terms of history, natural environment, photography and food and wine.

The price of € 55.00 per person includes: transport, accompanying person/guide, lunch in restaurant with drinks.

Departure at 8.30 am and return at 5

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S TATISTICS

CONFIDENCE AMONG COMPANIES RISES SLIGHTLY The Chamber of Commerce presents an analysis of the economic situation The results have been presented of the analysis of the economic situation made by the Chamber of Commerce twice-yearly to examine the state of health of the San Marino economy. By means of a telephone survey on a representational sample of 500 companies, this provides a clear picture of the growth prospects of the economy and of the confidence rating of companies.

This year, for the first time, the analysis was made entirely by the staff of the Chamber of Commerce and, more specifically, by Dr. Nicola Michi who, over the last twelve months, has attended a special training path.

of companies have reduced the number of workers while others have made use of the Redundancy Fund.

Many companies have also indicated positive factors such as the strategic position of San Marino, the tax system and security in the area, while at the same time pointing their finger against negative publicity and the fact that the country remains on Italy’s black list.

67% of companies consider the institutions have the power to take action in this sense. senso.

Executive Summary available online (section STATISTICHE ECONOMICHE) www.cc.sm (Statistiche Economiche) MASSIMO GHIOTTI General Manager

MAGGIO 2011 a cura della Camera di Commercio Industria, Artigianato e Agricoltura della Repubblica di San Marino

“70% of San Marino comTHE GENERAL PERCEPTION panies work with Italy and The analysis shows a slight rise in consequently commitment confidence among the country’s companies, esin favour of internationalisapecially in the manufacturing sector. From the position of substantial tion, though very important, standby of a few months ago, these have now passed into a more cannot relegate into second place dynamic stage that has made them protagonists of the change and what is the major goal – the need to prompted them to undertake various types of actions in order to resolve our problems with Italy.

The fact is that there are companies verse the economic downturn. which, in terms of their very nature, size and type of product or Virtually unchanged however is the perception of the problems which service provided, can only hope to do business in San Marino and companies consider to be of a priority nature – the fact that San Marinearby Italy”. no is listed on Italy’s black list and relations with that country – but the percentage of companies has increased considerably which say they have problems with their Italian customers and suppliers: this figure has risen Measures taken by companies: from 39% in 2010 to a current 60%.

ANTI-CRISIS STRATEGIES Various strategies have been put into place by our entrepreneurs to react to the crisis: over 25% has concentrated on reducing costs, just over 20% on company reorganisation. Attempts have been made to find new markets/customers (above all in Europe, Asia and the United States) and create new products/services. 39% have opted for the opening of new offices in Italy. In some cases, the economic downturn has resulted in workers being laid off; 23% 4 july-august 2011

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Cost cutting Corporate reorganization Search for new markets/customers New products / Services Changes to price policies Use of forms of coordinated support 0,0%

5,0%

10,0%

15,0%

20,0%

25,0%

30,0%

S AN MARINO - ITALY

SCIENCE & TECHNOLOGY PARK TO BE COMPLETED BY 2012 “The idea is to create opportunities together. San Marino is anxious to favour economic development, to build up a solid economy like that which brought it wealth during the post and after-war industrial period and which finds resources in a neighbouring country�.

This is what the Minister for Industry, Marco Arzilli had to say following the official visit of the Italian Minister for Economic Development, Paolo Romani, who recently came to San Marino to speak about economic cooperation between the two States, and in particular about the Science & Technology Park. A project which is slowly taking shape and is due to be completed by 2012 with the signing of a bilateral agreement. A signature which will be affixed following the setting up of a technical panel due to already convene in September and consisting of representatives of the two Governments and of the Emilia Romagna and Marche regions, the Italian Minister of Education, University and Research and the University of San Marino.

THE KEY POINT In speaking to Arzilli, Romani confirmed an investment of three million euro from Italy and two from San Marino. Many are the issues to be discussed: from the definition of the legal status to be granted to the new institution, to the possibility of accessing European funds, to the determination of the research fields. Also still to be decided is the location of the Science Park, which may be in San Marino, Italy or astride both.

FOCUS

The aim of Science & Technology Parks is to promote innovation and the competitiveness of companies and consequently economic growth. They represent a new way of conceiving links between companies, universities and research centres; systems in which business and research activities coexist and expand in a constructive and favourable framework in terms of

relations, knowledge, innovative services and easy access to expertise and cutting-edge instruments.

In Italy, 31 Parks are members of the Italian Science & Technology Park Association. These integrate 600 companies and 6300 operators.

The IASP (International Association of Science Parks) counts 372 members worldwide and hosts 200,000 companies in 72 different countries.

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M EMBERS’ AREA

THE EUROPEAN INTEGRATION PROCESS What has been done, what remains to be done July - December 2010

January - June 2011

The technical team set up to assess the new conditions for integration with the European Union considered the benefits and drawbacks in relation to three possible scenarios: - extension of current agreement; - joining the European Economic Area; - joining the European Union.

The Minister for Foreign Affairs sent a note to the President of the European Council and to the President of the European Commission, who expressed interest in discussing in greater detail the possibility and conditions for the integration of smaller-size European countries. Hence San Marino started political-diplomatic meetings:

15 December 2010

The final report of the Work Team was positively assessed by the Great and General Council which, at the same time, authorised the State Congress to start negotiations with the dual aim of achieving better integration of San Marino at European level and assessment of the existence of the political and international conditions required to begin the procedure for joining the EU.

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- at bilateral level, with the EU Member Countries, to gain their support for the process of greater European integration; - at multilateral level, with other micro States (Andorra and Monaco) and the services of the European Commission to discuss possible integration scenarios, determine the main problems of each micro State and discuss the possibility of creating a new general agreement.

THE INTEGRATION OF MICRO STATES WHAT IS HAPPENING IN EUROPE In June 2011, the European Council adopted the EFTA Group Report for the integration of the three micro States (San Marino, Andorra and Monaco). This contemplates a single legal reference base which nevertheless takes into account individual national specificities in the negotiation stage. The Report further commits the EU to analyse the new institutional framework, to present the first results by the end of 2011 and to provide recommendations on integration by June 2012. For the first time therefore, the EU has undertaken to deal with micro States in accordance with a precise schedule.

WHAT IS HAPPENING IN SAN MARINO

• the setting up of a San Marino customs

In carefully considering the proposal of an ad hoc agreement with the EU, without giving up the prospect of joining the Union, on 7 June 2011 the Great and General Council approved an Agenda committing the San Marino institutions to ensure the application of the Cooperation Agreement and Customs Union and to indicate San Marino’s negotiating position. The latter must take into account the “political role and European citizenship, the possibility of taking part in European training and funding programmes, the negotiated acceptance of the four freedoms and relevant acquis, in the absence of which starting procedures for joining the Union cannot be ruled out”.

• the improvement of the free circulation of a number of goods

13 July: the Foreign Affairs Council Commission, in a new Agenda, reiterated the contents of the Agenda approved by the Great and General Council on 7 June 2011.

14 July: the official letter was delivered to the European Commission convening the EU- San Marino Cooperation Committee, contemplated by the applicable Cooperation Agreement and Customs Union. The aim is to improve the enforcement and operation of the Agreement and identify new fields of cooperation.

In the coming months, the Cooperation Committee will convene to discuss a number of problems, including:

• the strengthening of cooperation in the infrastructure and tourist, health fields; • financial sector problems.

THE MINISTRY OF FOREIGN AFFAIRS INITIATIVES …

Training will be the key word to best tackle the challenge of integration.

The in-depth examination of community topics will in fact be entrusted in part to post-graduates, for whom scholarships will be set up to enable them to attend upgrade courses on community law at the College of Europe in Bruges. What is more, current Public Administration staff will be suitably trained.

… AND THOSE OF THE DEPARTMENT The Foreign Affairs Department has already contacted university lecturers and experts on community matters to determine the feasibility of future forms of tutorship within the San Marino Public Administration and, at the same time, to receive support in analysing topics relating to the single market in view of the definition of its negotiating position.

OSL@CUBE is the business incubator dedicated to the operators of the Republic of San Marino. It is a physical-virtual place equipped with computer technologies, common areas for presentations, press conferences and meetings and an organiOrganizzazione Sammarinese degli Imprenditori sation secretariat, able to provide companies with backing both during start up, and consolidation and development. This way, the OSLA (San Marino Businesspersons Association) intends fostering the growth of innovative businesses, favouring the creation of new jobs and, at the same time, strengthening the San Marino economic fabric.

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Y OUNG ENTREPRENEURS

THE WINNER OF THE “L’IDEA CHE TI PREMIA” COMPETITION HAS CHOSEN THE RIDER UNIVERSITY Six months after receiving the official prize of the “L’Idea che ti premia” competition, Alessandro Giannini presented to the Chamber of Commerce the documents certifying attendance of the summer study course of the Rider University of New Jersey (United States). In accordance with the regulations therefore, he will receive the sum of 1,500.00 Euro towards sustained costs.

Alessandro, a San Marino student who attends the ITIS “Leonardo Da Vinci” in Rimini, took part in the 2010 edition of the competition of innovative business ideas with the project “Occhio Salvavita” (Lifesaver Eye), a device able to automatically send an SOS message to the police in case of a serious road accident so as to ensure immediate first aid. A creative and far-reaching idea which enabled him to beat the 22 other competitors and which Alessandro has decided to exploit by attending a language course in the USA. AN EXAMPLE TO IMITATE A precise and hard-working student also praised by the Academic Coordinator, Mary Amato, who was contacted by us in order to check Alessandro’s documents and expressed her satisfaction in being able to work with such diligent students.

Besides being a great example for young people, Alessandro also portrays a real and constructive image of our Republic in the world.

The 2010 edition of the “L’Idea che ti premia” competition was conceived and implemented by the San Marino Chamber of Commerce in conjunction with the Rotaract youth association of San Marino and with the contribution of Banca di San Marino and Forum dei Giovani.

C HAMBER OF COMMERCE The San Marino Chamber of Commerce is a joint-stock company with mixed public and private capital, held for 51% by the state of San Marino and for 49% by trade associations (ANIS, OSLA , UNAS, USC and USOT), banks (Banca Agricola Commerciale, Banca di San Marino, Cassa di Risparmio and Credito Industriale Sammarinese) and the University of San Marino. It offers support services for companies and organizes promotional activities for the territory and the local economy. For enterprise, it provides a channel of access to the public administration, the meeting point between industry and the state.

BOARD OF DIRECTORS Simona Michelotti - President of the Chamber of Commerce Silvano Andreani Paride Bugli Riccardo Cervellini Emanuel Colombini Giorgia Gasperoni Giorgio Petroni Vladimiro Renzi Gian Franco Terenzi

Year III - July - August 2011 - n. 4 Executive Editor: Massimo Ghiotti Editorial Team: Marianna Bucci Camera di Commercio di San Marino S.p.A. Str. di Paderna, 2 - 47895 Fiorina di Domagnano - RSM Tel. 0549-980.380 - Fax. 0549-944.554 - Mail: info@cc.sm

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STAFF Massimo Ghiotti - General Manager Evelina Guglielmi - Quality and Production Department Roberto Bucci - Fairs and events organization consultant Marco Macina - Executive Assistant and IT Department Jessica Dell’Ominut - Accounting and Secretarial Office Federica Tonelli - Legal Office Massimo Zani - Buying and Sales Department Marianna Bucci - Marketing Department Nicola Michi - Production and Planning Department

Graphic Design: 3 STUDIO Printed on: STUDIO STAMPA Circulation 1500 copies