Among the competitors is Michael Moore's film on the financial crisis and the directorial debut of US fashion designer Tom Ford, the news agency said.
"It's one of the most surprising and strongest selections," the event's director Marco Muller told reporters in Rome.
Twenty-four films will do battle for the festival's top prize, including Moore's "Capitalism: A Love Story" and Ford's "A Single Man," based on Christopher Isherwood's 1964 novel.
The distributors of Moore's film, Overture Films and Paramount Vantage, have said the movie will take "a comical look at the corporate and political shenanigans" that culminated in last year's multi-billion-dollar Wall Street bailout.
"The wealthy, at some point, decided they didn't have enough wealth.
They wanted more -- a lot more -- so they systematically set about to fleece the American people out of their hard-earned money," Moore said in May.
"Now, why would they do this? That is what I seek to discover in this movie," added th