Rome

'Investment conditions unfavourable to Fiat in Italy'

Govt should pass business-friendly measures says OECD economist

'Investment conditions unfavourable to Fiat in Italy'

(ANSA) - Rome, September 25 - Italy's economy is not open enough to attract investments and persuade a large group like Fiat to stay in the country, the Organisation for Economic Cooperation and Development's chief economist said Tuesday. Piercarlo Padoan told Italian TV that an economy of this type "has not existed in Italy for some time, unfortunately, above all compared to our major competitors". The government should pass business-friendly measures and cut red tape, the OECD economist said. Fiat told the government at the weekend that it would stay in Italy but could not invest in plants or products until the market was right.

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