Long term expertise in international tax consulting with specific focus on East Asia and emerging markets, providing clients with due diligence, tax and advisory services.
PhD Researcher at Shanghai University, he has been Adjunct Associate Professor at XJTLU and has taught taxation at Peking University, Shanghai Jiao Tong, Tongji University and Hult Business School.
Tax Advisor and CPA specialized in international taxation at IBFD Kuala Lumpur, Post-graduate degree from UIBE Beijing.
He is based in Shanghai, where he focuses on business and tax law, assisting foreign investments in China and East Asia. He is an auditor and an advisor for several corporate groups and he is partner and Head of Tax of the consulting firm RSA, specializing in Asia and emerging countries.
Lorenzo has covered roles in the governance of institutions, multi-national companies and non-profit organizations including roles as directors and supervisor in Asia for groups like Giorgio Armani, Trussardi, Max Mara, Biesse, Parmalat and others.
Lorenzo Riccardi has published extensively on business and tax law and foreign investments in Asia, being a columnist, scientific committee member of several journals and author of publications in different languages.
During his career he has been recognized as:
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Member American Institute of CPAs (International Associate) - USA
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Member Australia CPA - Australia
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Member CNDCEC, Association of CPAs - Italy
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Member National Association of Auditors, Registro Revisori dei Conti - Italy
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Member Hong Kong Institute of CPAs (International Affiliate) - Hong Kong, SAR China
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Vice Secretary - Committee on Emerging Economies, Shanghai Society of World Economy
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Treasurer China-Italy Chamber of Commerce
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Board Director China-Italy Chamber of Commerce
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Board Director Italy Vietnam Chamber of Commerce
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Chair SPWG China-Italy Chamber of Commerce
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Secretary General Italian Scholar Association in China
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Member Thai-Italian Chamber of Commerce
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China Representative, Unimpresa
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Chairman of Vespa Club China
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Economic Attaché Consulate of Vietnam in Italy
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Member of Research Center on Contemporary China (CSCC)
Business Grand Tour wants to recapture the concept of the historical Grand Tour, with a modern and economic perspective.
In our 21th century, countries and people are getting more connected and economies are developing thanks to the globalization. New technologies and the development of the means of transport made easier the communication and movements among countries.
In this context, Business Grand Tour aims to discover countries from an economic point of view, with a focus on their strengths, opportunities and specific features and analyzing how they are dealing in an increasingly globalized world.
Business Grand Tour wants to recapture the concept of the historical Grand Tour, with a modern and economic perspective.
In our 21th century, countries and people are getting more connected and economies are developing thanks to the globalization. New technologies and the development of the means of transport made easier the communication and movements among countries.
In this context, Business Grand Tour aims to discover countries from an economic point of view, with a focus on their strengths, opportunities and specific features and analyzing how they are dealing in an increasingly globalized world.
Business Grand Tour wants to recapture the concept of the historical Grand Tour, with a modern and economic perspective.
In our 21th century, countries and people are getting more connected and economies are developing thanks to the globalization. New technologies and the development of the means of transport made easier the communication and movements among countries.
In this context, Business Grand Tour aims to discover countries from an economic point of view, with a focus on their strengths, opportunities and specific features and analyzing how they are dealing in an increasingly globalized world.
Sources: World Bank, International Monetary Fund,
EY, RsA Asia
Sources: World Bank, International Monetary Fund,
EY, RsA Asia
Sources: World Bank, International Monetary Fund,
EY, RsA Asia
COMOROS
One of the world's poorest and smallest economies, the Comoros is made up of three islands that are hampered by inadequate transportation links, a young and rapidly increasing population, and few natural resources. Agriculture accounts for about 50% of GDP, employs a majority of the labor force, and provides most of the exports. Recurring political instability, sometimes initiated from outside the country, and an ongoing electricity crisis have inhibited growth. The government, elected in mid-2016, has moved to improve revenue mobilization, reduce expenditures, and improve electricity access.
COTE D'IVOIRE
The Ivory Coast is largely market-based and depends heavily on the agricultural sector. Fiscal policy has focused on promoting investment and funding other development needs.
Cote d'Ivoire is heavily dependent on agriculture and related activities, which engage roughly two-thirds of the population. Cote d'Ivoire is the world's largest producer and exporter of cocoa beans and a significant producer and exporter of coffee and palm oil. Cote d’Ivoire has experienced a boom in foreign investment and economic growth. For the last 5 years Cote d'Ivoire's growth rate has been among the highest in the world.
DEMOCRATIC REPUBLIC OF CONGO
The economy of the Democratic Republic of Congo is a mixture of subsistence hunting and agriculture, an industrial sector based largely on petroleum extraction and support services. Nowadays the country is increasingly converting natural gas to electricity rather than burning it, greatly improving energy prospects. An uncertain legal framework and an outmoded and arbitrary regulatory environment are significant obstacles for business owners. The prevalence of state-owned enterprises limits foreign investment.
EGYPT
Structural reforms, including fiscal, monetary policies, taxation, privatization and new business legislations, helped Egypt move towards a more market-oriented economy and prompted increased foreign investment. Government openness to foreign investment is above average. The state’s presence in the financial sector has been phased out, but modernization of the sector has progressed slowly.
ERITREA
Eritrea has an extensive amount of resources such as copper, gold, granite, marble, and potash. However, economic mismanagement and structural anomalies that severely undermine private-sector development have impeded productivity growth, dynamism, and overall economic growth. Procedures for establishing and running a business are opaque and costly. The government dominates most aspects of the economy and maintains ownership barriers that reduce or prevent foreign investment
ETHIOPIA
Ethiopia is a mixed and transition economy with a large public sector. Government’s plan is to transform the country from an agriculture-based economy into a manufacturing hub hinges on improved transport and energy infrastructure and greater agricultural-sector productivity. Banking, telecommunication and transportation sectors of the economy are dominated by government-owned companies. The government strongly influences lending and funds state-led development projects by forcing private banks to purchase treasury bills.
GUINEA-BISSAU
The economy of Guinea-Bissau depends mainly on agriculture and fishing. Guinea-Bissau is among the world's least developed nations and one of the 10 poorest countries in the world. From a European viewpoint, the economic history of the Guinea Coast is largely associated with slavery. Protection of property rights is generally weak. Private-sector development remains severely challenged by the opaque regulatory environment, although there have been incremental improvements to make it easier to run a business in recent years. Much of the labor force is employed in the public sector.
LESOTHO
The economy of Lesotho is based on agriculture, livestock, manufacturing, mining. The labor market remains rigid and not fully developed. moving from a predominantly subsistence-oriented economy to a lower middle income, diversified economy exporting natural resources and manufacturing goods.
MADAGASCAR
A well-established market economy with regards to its agricultural industry and emerging tourism, textile and mining industries, but the capital market remains undeveloped. Madagascar's status as a developing nation exempts Malagasy exports from customs protocol in some areas, notably the United States and European Union. These exemptions have supported the growth of the Malagasy textile industry. Despite a wealth of abundant and diverse natural resources, Madagascar is one of the world’s poorest countries.
MOZAMBIQUE
Mozambique faces an unsustainable external debt burden, a sharp drop in capital inflows, and weak economic growth that threatens macroeconomic stability. Although the country had benefited from debt forgiveness and rescheduling. Mozambique made it harder to start a business by increasing registration and notary fees, but it also improved access to credit information by allowing a credit bureau to be established. The financial market, dominated by growing banking sector, is fairly well developed compared to other economies in the region.
RWANDA
Rwanda is a developing country with about 70% of the population engaged in agriculture. However, Rwanda has undergone rapid industrialization thanks to good government policy. Rwanda made starting a business easier by improving the registration process but obtaining building permits became more difficult. Government openness to foreign investment is above average.
SEYCHELLES
The economy is based on fishing, tourism. The public sector, comprising the government and state-owned enterprises, dominates the economy in terms of employment and gross revenue, employing two-thirds of the labor force. The largest share of private-sector employment is in the tourism sector, which, along with tuna fishing, has driven growth in recent years.
SOMALIA
Somalia is classified by the United Nations as a least developed country. Despite experiencing two decades of civil war, the country has maintained an informal economy, based mainly on livestock, remittance/money transfers from abroad, and telecommunications. Inadequate infrastructure, the lack of a regulatory environment, and the constant threat of looting and violence deter business formation. Somali diaspora remittances continue to be an important source of foreign exchange and economic support
SUDAN
Sudan's economy boomed on the back of increases in oil production and large inflows of foreign direct investment. Agricultural production remains important, because it employs 80% of the work force and contributes a third of GDP. However, the petroleum sector provides some economic stability, but other sectors of the economy face serious structural and institutional deficiencies. There are few opportunities for entrepreneurial activity, at least within the formal economy. The labor market remains underdeveloped.
TUNISIA
Its economy is in the process of economic reform and liberalization after decades of heavy state direction and participation in the economy. Tunisia's economic growth historically has depended on oil, phosphates, agri-food products, car parts manufacturing, and tourism. However, a relatively efficient business system suffers from a lack of transparency and inconsistent implementation. Government openness to foreign investment is below average.
ZIMBABWE
This economy is a mixed economy with a dominating public sector. However, Zimbabwe's economy also suffers from excessive hyperinflation. An inefficient judicial system and general lack of transparency severely exacerbate business costs and entrepreneurial risk. Nontariff barriers significantly impede trade. Foreign ownership levels are capped, and sectoral restrictions impede foreign investment.