The food-themed Milan Expo 2015 kicking off on May 1 "has already attracted one billion euros in foreign investments, an important result," says Expo President Diana Bracco.
Milan Expo, which continues for six months, ending on October 31, "is an investment for its total impact on Italy," Bracco told State broadcaster RAI's program 'Porta a Porta', stressing the event will be very interesting and a success.
Meanwhile, Italian food industries hope they will see multiple spin-off economic benefits from Expo.
In fact, the food industry is an important sector worthy of investment, says Giorgio Squinzi, president of industrial employers' confederation Confindustria.
"(Food) is a sector to invest in. As entrepreneurs, we very much believe in it and we will work for this success". Italian food exports grew by a record 7% last year over 2012 - offsetting a 4% drop in internal demand - to reach 26.2 billion euros, part of the total turnover of 132 billion euros of the Italian food industry, according to data from Federalimentare, the Italian food industry federation.
The Expo's theme, Feeding the Planet: Energy for Life, focuses on fighting famine and malnutrition worldwide through sustainable development, global cooperation and new technology - while celebrating global culinary cultures.
Luca Sani, the president of the Lower House agricultural commission, on Thursday said the commission has approved a document "in which the government pledges to endorse Expo 2015 during the semester of EU presidency, with the objective of defining an international agreement among participant States for the adoption of common policies to solve major problems connected to food and nutrition".
The planet is expected to have a population of over nine billion by 2050 with a forecast 70% increase in agricultural production, which is expected to have a serious impact on the environment, food security and the right to food, Sani said.
Overall, 1.3 billion tons of food produced worldwide is wasted today - four times the total food needs of 870 million malnourished people.
A study published earlier this year said that Italians are increasingly conscious of avoiding food waste, yet are expected to throw away an estimated 8.1 billion euros worth of food in 2014. Waste in 2014, however, is down from an estimated 8.7 billion euros last year, according to the 2014 Waste Watcher Knowledge report by survey research companies SWG and Last Minute Market for Milan Expo 2015. "The objective of Expo 2015 is to outline binding deadlines for a global pact on food," according to the targets set by the commission's document, said Sani.
Oscar Farinetti, founder of food-emporium group Eataly, said this week that Expo will be an occasion to "double exports and tourism" - showcasing Milan and Italy, along with the country's food excellence - while fighting famine.
"We produce food for 12 billion people but the hungry are 800 million," he said, citing as a role model Slow Food and its project to finance 10,000 vegetable gardens in Africa.
The Eataly founder said he expects the event to be a "success", with "more visitors than expected, at least 30 million, including one-third coming from abroad".
A record-breaking 53 countries have pavilions under construction or approved to be built for Expo 2015.
The previous edition of the world's fair, held in Shanghai in 2010, had 42 single-nation pavilions.
In another first, some 6.5 million tickets have already been sold to tour operators worldwide, said organizers, who hope to attract at least 20 million visitors from around the world.
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