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Year III January-February 2011 n. 1

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INTERVIEW Stefano Vitali, President of the Province of Rimini Seminars 2011 Economy Day Members’ Area Quest for Partners Service

Fortress Guard / Guardia di Rocca

E DITORIAL Massimo Ghiotti - General Manager

“Those who want to be leaders, but aren’t, say things. Good leaders explain things. Even better leaders demonstrate things. Great leaders inspire things”. Anonymous

Addressing change and dominating it is perhaps the hardest and most stimulating of challenges for anyone who has to take decisions. Many and multiform are the factors that come into play, the dynamics to be assessed, and the organising culture can provide the right motivation and determine success in achieving goals. It is in such a scenario that the figure of the leader becomes of crucial importance: it is the leader who translates intentions into reality and it is the leader who sustains it. The leader acts on culture, draws up prospects full of possibilities, is projected into the future. And in this propulsion towards change, the leader is able to develop and field resources that allow achieving set objectives. A leader’s flexibility enables him/her to govern

uncertainty and adapt his/her way of being to the contexts in which, from time to time, he/she has to operate. But the characteristic which, more than any other, distinguishes a leader is the ability to create a vision, to see the opportunities before they become obvious. Such ability is the upshot of previous experiences and constant research, listening and attention, which allows the leader to sculpt the future and interpret all the information in his/her possession. But the leader is well aware that without the backing of a motivated and satisfied operating team, his/her ideas would remain just words floating in thin air, and recognises the importance of the role of each of his/her team members. The trust and industry which they give to the leader in fact is directly proportionate to the latter’s ability to clearly express the vision, its meaning, to communicate a dream and the final goal, which must be shared by everyone in order to be achieved.

Successful internal communication is therefore vital to prevent resentment, misunderstandings and overlaps with consequent loss of time and, at the same time, makes individuals more responsible, increasing productivity (and selfesteem) when power is granted to them. In the same way, adequate external communication is crucial to prevent problems tied to bad publicity, lack of representation, or disclosure of wrong or strategically sensitive information. All this is only possible if the organisation invests in training, analyses feedback and learns to learn from its mistakes. For this reason, a quality system is needed that allows working in an increasingly better way, to eliminate waste and constantly monitor the path that leads towards the achievement of the goal. Many therefore are the variables to be taken into consideration on the road towards success: it is up to the leader to indicate the destination and to the team to reach it.

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Training: a precious ally for successful internationalisation The Chamber of Commerce’s vocation for internationalisation is nothing new. In fact, the Chamber of Commerce has always been convinced of the need for a forward-looking country to extend its horizons beyond its own borders and open its doors to new opportunities. A vocation that was already clear in far-off 2003 when, with considerable far-sightedness, the Chamber of Commerce started organising its first training meetings to promote trade relations with China. Year after year, the Chamber of Commerce has continued to focus on training as an essential element in order to successfully compete on international markets, fully aware of the importance of allowing companies to strengthen their positioning through more qualified know-how and skills. In 2011, the Foreign Area will be organising – a cycle of seminars to help companies launch out onto foreign markets. The first meeting “Organizing the foreign office to better sell abroad” has already taken place in mid-February and found appreciation from all over the audience. During the course of the meetings the speakers will discuss the various topics in detail, offering practical, useful and easy-to-apply suggestions to each single company.

CALENDAR Meetings at Grand Hotel Primavera FRIDAY 18 MARCH - 9 am - 1 pm “How to find customers and better sell abroad”

WEDNESDAY 30 MARCH - 9 am - 6 pm “Preferential and non-preferential origin. Made In”

FRIDAY 8 APRIL - 9 am - 1 pm “Incoterms 2010”

FRIDAY 20 MAY - 9 am - 1 pm “Inter-cultural communication in trade-Knowing cultures to sell better and more”

For ANIS, OSLA, UNAS, USC, USOT and CDO members 10% discount.

RANIERO CASADEI Cams Group Export Department

In recent years, I have taken part on The complete calendar and more details on contents several occasions in and costs are available on the website the seminars organised by the Chamber of Commerce (Internationalisation section). and find them very useful for acquiring a more in-depth knowledge of issues tied to internationalisation, and With the support: sales and tax topics. The workshops provide a general overview of topics of interest to us in our work and help us overcome specific problems more quickly.

Via Cinque Febbraio - 47899 Serravalle Republic of San Marino Tel. (+378) 0549 900190 - Fax (+378) 0549 960125

The Best Idea to be the Protagonist 2 january-february 2011

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Stefano Vitali President of the Province of Rimini The Chamber of Commerce of San Marino meets the President of the Province of Rimini to discuss relations between the two areas. President Vitali, what are the positive aspects of having the Republic of San Marino as a bordering State? Being close to the world’s oldest Republic is very definitely a big advantage, though I believe this is mutual considering the historical and cultural legacy of the entire Province of Rimini. Relations with San Marino have always been friendly and cooperative, but today more than ever, what we need is a far-reaching outlook, whereby we are seen as a single entity, a single area, with the same approach to strategic issues in order to maintain the level of economic growth attained so far, and which enables us to further develop thanks to a diversification of what we have to offer. Many are the joint initiatives which, over the years, have brought with them successful results for both countries. For example? First and foremost, the Rimini – San Marino airport, perhaps the most obvious and less-exploited example. In this sense, strengthening relations with Italy would mean making the airport an international destination and, at the same time, creating an important economic prime mover for San Marino. The same goes for the Moto GP: an event of global importance which takes place in Italy but calls attention to San Marino, with an economic return not immediately definable but significant in terms of the promotion of a medium-long term image.

On what aspects should focus then be placed to optimise cooperation between the two areas? Promoting a joint image is very definitely a step in the right direction. I cannot see a future for Rimini and its hinterland without San Marino, and vice versa. What we can do is help businesses by diversifying what we have to offer, e.g., by focusing on strategic sectors such as trade-fair and congress tourism. Investing in culture means increasing product quality and diversifying targets. Suffice it to mention the success encountered by the Impressionist exhibition, organised in both Rimini and San Marino. This is an excellent example of the results that can be achieved by cooperating in a sector – that of tourism – which is of strategic importance both for the Rimini hinterland and for San Marino. We are working together to build an alternative able to exploit the endless potential of our area: culture, history, food and wine, farm accommodations. Only in this way will we be able to take a forward leap in terms of quality. Which institutions do you think the best suited to putting these intents into practice? All those institutions which repute themselves an active part of the area must work together towards a shared goal: executive cadres, associations, Chamber of Commerce. The economic categories are crucial for developing culture. To all this must naturally correspond the updating of infrastructures such as, for example, the Rimini-San Marino expressway. Such measures do in fact take priority when requirements change.

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Economy Day Companies’ mood of confidence (March 2009 = 100)

March 2009

November 2009

The figures that came to light from the Report on San Marino Enterprise in 2009 and from the Analysis of the Economic Situation of October 2010, the two statistical surveys published by the Chamber of Commerce and presented during the course of the Economy Day, are not particularly comforting. A day of discussion with the institutions on San Marino’s economic situation over the past two years that saw the participation of the Minister for Finances, Pasquale Valentini, and of the Minister for Industry, Marco Arzilli, together with Simona Michelotti and Massimo Ghiotti, President and Director of the Chamber of Commerce, and Luigi Bidoia, Industrial economist of Servabit. “The analysis of the 2009 financial statements of San Marino companies paints a less difficult picture than one might have expected – explains Simona Michelotti -. Until 2009, San Marino companies suffered the international crisis, but resisted well. Less production and lower profit margins, but still within acceptable limits. Company financial statements show a critical but not dramatic situation. In 2010 however, the situation clearly worsened. The analysis of the economic situation in October shows the number of optimistic companies to have fallen sharply to 12%, while the pes4 january-february 2011

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April 2010

October 2010

simists touched 31%. An alarming percentage which calls for decisive measures able to restore normal relations with Italy and a shared view of the future. It is up to the politicians to plot, with determination and courage, a course which companies can then follow”. “The politicians must shoulder the responsibility of making decisions. And decision time necessarily calls for an awareness of the market and transparency - says Minister Arzilli - The lack of confidence shown by companies is a signal that on

the one hand the economy requires fresh stimulation and, on the other, that concrete answers are needed in order to make San Marino more economically appealing and dynamic. I am thinking of customs, infrastructures, less bureaucracy and competitiveness. The future lies in enterprise. And the first challenge of the future must be to prevent companies from moving out of the country”. “There is no doubt that relations with Italy strongly affect the economic situation - says Minister Valentini - but at the same time, we must understand who

OTTOBRE 2010 a cura della Camera di Commercio Industria, Artigianato e Agricoltura della Repubblica di San Marino

we are and where we want to go to defend our peculiarities. The opportunities and the advantages offered by our Republic are something tangible, and it is important to be aware of all the good aspects that exist and start by protecting these and making them appealing for foreign players, while at the same time trying not to dwell too much on what is lacking”.

It is important to underscore how the Report on Enterprise and the Analysis of the economic situation are compiled by the Chamber of Commerce thanks to the cooperation provided by companies which, in the first case, are called upon every year to enter their financial statements in specially-designed software and, in the second case, answer questions relating to a confidence rating survey. Both these statistical surveys have also encountered the (Economical Statistics section) favour of Trade Associations.

San Marino National Industry Association

CARLO GIORGI - Secretary General “Dedicating a day to the economy is a great idea considering work occupies such a large part of our lives. ANIS shares and favourably views this project, which this year has also been strengthened in order that we might base our considerations on the objective data provided by the two important statistical surveys published by the Chamber of Commerce”.

“The figures that came to light are clear and confirm what Anis has been saying for some time, i.e., that we are facing a very serious crisis. That is why we demand a project capable of enabling us to overcome this phase with new concrete and real prospects of development. The drop in confidence on the part of companies, which clearly appears by reading the figures relating to the economic situation, is based on a consideration which we fully share: unless relations with Italy return to normal, there can be no certain future for San Marino companies. And time has now become of the essence. On the other hand, it is perfectly clear that certain unsolved problems weigh heavily on the growth of our economy. We refer in particular to an oversized civil service system, too much bureaucracy and other crucial reforms, but also to the inability of politicians to provide concrete answers and bring about a real change in pace”.

Organizzazione Sammarinese degli Imprenditori

San Marino Entrepreneurs’ Association

MIRKO DOLCINI - Vice President “We cannot but be satisfied with these statistical survey instruments. First of all because they are fundamental guidelines for the country’s strategic economic decisions and also because they provide precious information to San Marino economic operators moving within the borders of the Republic and who must therefore be regularly updated”.

MARINO ALBANI President of the Association of Certified Accountants The statistical surveys published by the Chamber of Commerce represent an insight into our economy and are also useful to those who have to take decisions at political level. We share concern about the current situation, above all because there appears to be no short-term solution to the crisis, with special reference to relations with Italy; the improvement of such relations must be an absolute priority for our economic system.

San Marino National Artisans’ Union

PIO UGOLINI Secretary General “The importance of these statistical publications is undisputable. As reference instruments, they enable us to take decisions and provide us with a reliable picture of the future. The crisis has naturally also affected our sector, but optimism still continues to prevail and this enables us to tackle the situation with confidence and to trust that the current downtrend will soon be inverted. Suffice it to think that in the last few months, applications have been filed for 22 new licences. This underscores the lead role played by artisan and family-run businesses, which are crucial for maintaining the country’s economic equilibrium”.

San Marino Tourist Operators’ Union

PAOLO ROSSI - President “We cannot but stress the usefulness of these statistical surveys, which enable us to acquire a true picture of the country. Our sector, which we firmly believe could become a driving force for economic growth, has also been affected by the downturn and has, moreover, had to address the problem of no adequate initiatives having been implemented to support an increase in business activities. Because of this, we too shall shortly be providing data concerning the situation in our sector”.

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SAN MARINO and THE EUROPEAN UNION: 2011 has opened with a big challenge San Marino looks all set for a busy period ahead. Relations with the European Union will have to be finalised through negotiations based on the indications drawn up by the Technical team for the evaluation of new EU integration procedures and on the Agenda approved by the Great and General Council on 15th December last. A hard but extremely stimulating challenge, calling for a big change in mentality in the country, but one from which San Marino is bound to come out stronger in terms of international relations, and better able to dialogue with the laws of the other countries while continuing to maintain all the major features of its own identity. An extremely positive judgement was expressed by the Government and by the Great and General Council on the work done by the Team, which represents an excellent base on which to take the necessary political decisions, in the interest of our Republic. THE TECHNICAL TEAM’S ANALYSIS A technical team set up by the current Executive and coordinated by the Foreign Affairs Department has been working for about a year. For every freedom of the single market (free circulation of goods, people, services and capitals), the survey carried out has identified the implications and the repercussions associated with the three possible options: membership of the European Union, joining the European Economic Space, better use and extension to other sectors of the Cooperation Agreement and Customs Union of 1991, which is still applicable. The resulting document is well devised. It has been fully drawn up in San Marino with the active contribution of the economic sector, of professionals and trade representatives, and was much appreciated by the European Union officials for the method adopted and for the thought and in-depth approach dedicated to the various aspects. 6 january-february 2011

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An awareness exists on the part of all the political forces making up the Great and General Council of the absolute need to take a step forward and pursue greater integration with the European Union. Negotiations will have to take into account on the one hand the vital need for increasingly closer participation in a space much bigger than that taken into consideration for decades and, on the other, the intentions of the other party which has recently shown itself more willing to consider the desire of the micro European states for greater integration. These small countries are, quite rightfully, a part of the culture of the European continent having, among other things, always shared the values of western Europe and achieved standards of living comparable, and often higher, than those of the other Countries of the continent. A CHALLENGE FOR THE FUTURE The delay in starting off along this road, which has built up over the years, should not discourage us. We can surely make up for the lost time thanks to the strong commitment of all the people of San Marino, so that all of us, especially the new generations, might enjoy wider prospects and benefit from new growth, training and job opportunities.


Ministry for Industry San Marino between East and West “It is important for San Marino to overcome its problems with Italy, but the time has come to explore new markets, create new opportunities and begin conceiving a new model of growth for our economic system, one that upgrades our competitiveness and focuses on training”. This was the statement made by Marco Arzilli, Minister for Industry at the end of the forum “San Marino between East and West. Competition and alliances between States” organized by his Ministry. A high-profile meeting in which took part the Minister for Industry, the Minister for Foreign Affairs and the Minister for Finances together with other influential speakers who discussed the role of the Republic of San Marino as a crossroads for the economies of the Far East and the West. Much appreciated was Daniel Mitchell’s paper, which underscored the fact that the size of a Country is not as important as its ability to make itself known and attract foreign capital through low tax rates and minimum Government interference. External speakers • Michele Bruni, university professor at the Faculty of Economics M. Biagi Modena and Reggio Emilia University; • Slavoljub Matić,  Senior Advisor Serbian Embassy in Italy; • Alberto Mingardi, Director Bruno Leoni Institute; • Daniel J. Mitchell, one of the USA’s leading tax experts and among the main “Flat Tax” supporters; • Marco Rossi, Italian businessman who has internationalised his company; • Ding Wei, Ambassador of the People’s Republic of China for Italy and San Marino Moderator: Oscar Giannino SAN MARINO ENTREPRENEURS ASSOCIATION It will not be possible to revive the San Marino economy without strengthening and Organizzazione Sammarinese degli Imprenditori rationalising infrastructures. This, to put it very briefly, is the message spread by the OSLA through the workshop “Infrastructures and public tenders. Structural Plan” and the relevant document signed by Ing. Armando Mammino. A precise medium and long-term development programme which analyses, in engineering feasibility and environment sustainability terms, possible future plans relating to roads, primary resources and tourism, considered to be the “strategic triad” in San Marino. Many were the proposals taken into consideration, from a Rimini-San Marino motorway and railway, to the exploitation of underground areas for the creation of infrastructures, the optimisation of water resources, and even the building of a new airport. 1920 – 2010 Banca di San Marino celebrates its 90th year. In 1920, just a few days before Christmas, the Parish priest, Don Eugenio Fabbri and a group of parishioners, decided to establish the Cassa Rurale di Prestiti di Faetano cooperative society. 90 years have passed since then and the institute, now the Banca di San Marino, has enjoyed strong growth. Over the years, new generations of shareholders, directors and employees have been trained and educated, the work of each being directed towards saving and planning, courage and honesty. 13 branches have been set up within the country and the bank’s assets, which once amounted to 320 lira, now exceed 210 million euro, thus confirming the confidence of a wide public. I7 million euro of profits, all produced by the banking business, enable the Ente Cassa di Faetano foundation to create projects for the country’s development, not only in economic, but also identity and cultural terms, by promoting in the various spheres of San Marino life, both own projects and initiatives created by civil society, according to the principle of subsidiarity of Church Doctrine.

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QUEST FOR PARTNERS SERVICE Working abroad has never been easier! San Marino companies should now have their sights set on the export market more than ever before, without fear and fully aware of the enormous opportunities provided by the global market. And to help companies approaching the export market for the first time and give fresh impulse to habitual exporters, the Chamber of Commerce has set up the Quest for Partners Service, a tailored service keyed to acquiring contacts according to the requirements of individual companies. A complete package that envisages the presence of one of our Export Managers in the company, a communication strategy created on the basis of the procedures already implemented by the company and on individual marketing requirements, as well as participation on major search engines for international trade. Erba Vita, a major San Marino company and a leader on the Italian market in the field of production and distribution of natural cosmetics, phytopharmaceuticals, food supplements and medical devices, was the first to make use of the Quest for Partners Service. For details: (internationalisation section)

ERBA Dr. G. Carlo

VITA Bollini

BRUNO BOLLINI - Director General In 2010, we began a major project of collaboration with the Chamber of Commerce in relation to an International Partner Research Service. This Erba Vita experience was very definitely a positive one: a communication strategy created on the basis of the procedures already implemented by our Export department and on marketing requirements. Cooperation proved useful for finding new partners. We discovered that the means at disposal of Chambers of Commerce are numerous and can provide sound backing to both artisan and industrial companies. I am convinced in fact that the Chamber of Commerce, more than just an Institution, must also be a partner, with a keen awareness of the requirements of businesses.

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 - January-February 2011 - n. 1 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:

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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

n. 2011/1 Made in San Marino EN  

Information magazine published by the San Marino Chamber of Commerce