On May 29 and 30, Florence becomes the host city of the second annual Aftercare Forum, following the first edition in Paris, specializing in efforts to maintain foreign investments through support made available to international businesses and individuals following the initial investment. The forum sees established investors joined by commercial and political representatives to discuss how the value of foreign investments can be maximized and sustained long-term, while simultaneously supporting local economies.
As the site of the conference, Tuscany is center-stage in displaying all it has to offer, not least in terms of the capacity for innovation and economic growth that the region boasts. Following a meticulous selection process, Florence was selected to host the workshops that span over the event’s two days, much to the satisfaction of the President of the Regional Council of Tuscany, who cites Tuscany’s flourishing economy and diversity of sectors that entice foreign investment as strong reasons to highlight Tuscany’s potential.
The proceedings of the event include a masterclass for professionals interested in attracting international investments, with a specific focus on how to ensure post-investment growth and long-term prosperity, with the input of political entities and Investment Promotion Agencies (IPAs). Speakers come to Florence from all over the world representing their companies, as well as national and supranational bodies, such as the United Nations Conference on Trade and Development, and the International Trade Center. It promises to be an exciting meeting place of a variety of experts in the field.
Organizer of the Aftercare Forum, Carolina Arriagada-Peters, outlines the priorities of the event. “It’s about looking at what you have, in this case, established investors, and finding new ways of creating value. It’s about seeing with fresh eyes the potential that there is.”
Of high importance is the collaboration between the private and public entities, which the organization Invest in Tuscany has been working towards for the past decade. According to Peters, “In many places, these two worlds are separate. Invest in Tuscany has been able to create bridges between those two areas in order to generate joint value.” Peters is a key figure in the development of Aftercare initiatives, and is the author of the only book on the subject. Her second book is hoped to be released this year, which will cover how to improve the climate of investment via advocacy, and how to engage and train the next generation of advocates.
On the topic of Florence’s placement in this field, Peters is enthusiastic about the possibilities that the city offers. “There is a cluster of international investors here, which of course we want to build upon, but we also want to learn what you are doing here. There are many practices on the international level that we will celebrate in the forum. There are very strong PPP (public-private partnership) relations, the region has embraced circular economy and we are talking about how to introduce AI.“
The Investment Promotion Agencies in attendance at the forum have come from all corners of the world, from Central Asia to the Middle East and Latin America, and this marks the first time that they have been able to come together to exchange expertise. The importance of aftercare in supporting investors is finally receiving the attention it warrants, making this a crucial step in encouraging international collaboration, and strengthening the efforts in sustaining the success of investments long-term, with all of the run-off benefits it brings to local economies.
