INVESTING IN TREVISO AND BELLUNO by Renato Chahinian

Source: Article by Dr. Renato Chahinian

Some years ago Treviso System online had published a special column entitled Investing in Treviso, which is still available on the website today, with the aim of illustrating the main reasons that could induce possible new investments in the province of Treviso.
Subsequently, the two Chambers of Commerce of Treviso and Belluno were merged into a single body and thus the economic direction of the two territories was also unified, with various operational advantages, but also with an overall assessment of the potential arising from an area of two neighbouring provinces, albeit very different.
At this point, it is worth resuming the discourse on the attractiveness and opportunities of the wider area, even though many of the observations made at the time by the old column are still valid today and some recent interviews with operators and experts on the subject can be heard on the website.
In particular, in my interview, I highlighted some specific summary characteristics of the two provinces, which can represent important reasons to invest in the area, especially by foreign investors, who can thus better realise the exclusive advantages that can be found here and that cannot be found in other areas of our country.
Therefore, here we can indicate the main drivers that can nurture local business opportunities for investors from various sectors, possibly even experimenting unusual and innovative activities on the basis of the ideas provided here.
In a nutshell, two general motivations have been identified, one of a social nature and the other of an environmental nature, capable of representing elements of opportunity to be exploited to the full, and two other specific motivations of an institutional nature, which must in any case be used with the prospect of non-negligible long-term profits.

The sustainability of the Treviso – Belluno area
As is well known, nowadays, profitable investments are not those that give the highest profit in the short term, but those that allow a fair profit in the long term. The former, in fact, in the face of immediate benefits, often lead to significant problems in the future due to the dangers of strong downward volatility, higher fiscal pressures, subsequent market crises, restrictive interventions by the competent authorities, a decline in reputation and mistrust on the part of public opinion. With a fair return, on the other hand, favourable market conditions can remain for a long time, even forever, if the product or service offered is properly adapted to the needs of the market.
The most sought-after update at present is precisely the sustainability of the business according to the principles of the UN 2030 Agenda, and therefore if every investment is able to gradually adapt it will lead to a gradual, but continuous development even far into the future (in short, we can say that the sustainable business can become immortal).
The principles and actions to be undertaken are those contained in the aforementioned Agenda, which can be divided into social and environmental and which can hopefully be pursued in parallel.

With regard to the first reason for territorial attractiveness, i.e. the social aspect, it can be observed that the main focus is on Objective 8, which concerns dignified work and economic growth. As shown in our previous article Dignified work and economic growth: a priority objective for socio-economic development,  if each company succeeds in achieving the two sub-objectives together, it achieves a worthy development that will allow it to remain competitive in the market and socially sustainable for a long time, creating a strong solidaristic and collaborative bond between employees, entrepreneurs and other stakeholders.
Now, in the provinces of Treviso and Belluno, together with other areas of the Veneto region and the North – East, this requirement is widespread and is almost always created spontaneously (more than elsewhere) and therefore, indipendently of the national and European regulations being issued, related to the so-called non-financial declaration (which is currently mandatory only for large companies but which will progressively be extended to SMEs as well), the local production context is already  virtuous and very attractive in this field, and likewise in the future there will not be big problems in terms of complying with regulations and presenting excellent practices to be emphasised to the market, institutions and the community at large.

The other reason, i.e. the environmental aspect, is perhaps less evident in our territory, as there are also here (as elsewhere) various shortcomings in adapting to the needs of preventing climate change and protecting biodiversity, but the presence of a more sensitive institutional system (despite the lack of funds) and a more collaborative production system (as has often occurred in the past) can accelerate the ecological transition, with all the consequent advantages that may arise in the future. In other words, without going into further detail on the subject, the Veneto Region’s political proposal for autonomy would essentially concern not so much a different distribution of resources between regions, but the entrusting to the local community with some tasks that it is better able to carry out locally rather than centrally.
But in our territory there is also an advantage from a geographical point of view, since the unification of the two provinces of Treviso and Belluno results in a completely diversified internal area, because it includes the plains, hills and mountains. In this way, every activity (except those related to the sea) can be practised, especially those in the primary sector (agriculture, forestry and livestock farming) with the possibility of new synergies even between different potentially connectable locations. Moreover, with climate changes, some of which are now partially irreversible, the relocation of crops to the most suitable altimetrical areas can be fostered, according to the temperature variations that will occur from time to time, with the possibility of also introducing new crops that until now have been produced elsewhere. Similarly, the climatic variety may affect new residential and tourist settlements and new related productive realities.

Recognition and significant institutional events for local investment
In addition to what has been observed so far, two other institutional factors can be taken into account for convenient investment in the two provinces in question.
First of all, this territory has received no less than two UNESCO World Heritage recognitions. These are the Prosecco Hills in the province of Treviso and the Dolomites in the province of Belluno.
The former has been defined as the human landscape in the area of the hills between Conegliano and Valdobbiadene, as it is a landscape shaped simultaneously by nature and the work of man, with unique environmental and socio-economic effects. In fact, in addition to the attraction of the landscape, there are considerable production and commercial opportunities linked not only to the wine industry, but also to countless other related activities, both agricultural and industrial, and services. But to these can be added also activities, especially of a cultural nature, since the landscape itself lends itself to historical re-evocations of customs and traditions, as well as shows of various kinds (musical, theatrical, choreographic, athletic, etc.). These are all opportunities already partly captured by the residents (who are certainly industrious and capable entrepreneurs), but which can obtain new and more extensive exploitation by external investors, including foreign ones.

The Dolomites, on the other hand, represent a natural landscape, because in this case the work of nature is prevalent, although a contained human presence does not spoil the exclusively natural beauty. Nowadays, new sustainable trends started to establish themselves, including tourism (as long as it respects the environment) and indeed there is a transition from the principle of exclusion to that of inclusion, considering that “it does not make sense to have a beautiful landscape that no one can enjoy“, or, even more, that”everyone has the right to admire what nature offers to us!”

These are elements that presuppose an expansion of the tourism phenomenon in a sustainable key, which still has ample room for development and thus further opportunities for new investments. The respect for the landscape also postulates further space for recovery and settlement in harmony with nature, which, precisely in the mountains, has vast unspoilt territories (but also abandoned to itself and deserted). The same protection of existing nature requires preventive human works to avoid the disasters that nature itself produces, altered by climatic upheavals that are in turn caused by man.

The second institutional reference can be made to the Milan – Cortina Winter Olympics scheduled for 2026.
Here too there are many difficulties, not only on the operational level, but also on the environmental one. The promises guarantee that everything will be sustainable: if this actually happens, considerable profitable business opportunities can be drawn from this exceptional event. These opportunities derive partly from the realisation of the preliminary works and from accommodating the exceptional demand generated by operators and visitors in the quite short period of the event, but above all from the use of the additional infrastructures built for the event, which will also be available to be used in the future. It is precisely this second purpose that should move considerable management capital towards the use of facilities that have already been financed, but which are capable of bringing considerable economic returns over a long period of time.
Lastly, as far as industrial activities are concerned, we cannot overlook the sports footwear district of Montebelluna, in the province of Treviso, which, precisely on the occasion of the Olympics, will have an extraordinary opportunity to make the world’s top winter sports leaders known and supply their products, with obvious consequences on the international footwear markets, whereas propaganda, if well organised, can reach every class of sportsman and consumer. Here, too, there is no shortage of opportunities not only for the development of existing companies, but also for new investments, including external ones, to support a district that had achieved international leadership levels in the past, but then had also suffered downsizing due to various economic crises.

Translated by Cecilia Flaccavento
Intern at the Chamber of Commerce of Treviso – Belluno|Dolomites