It will start next Monday mission to United Arab Emirates, Qatar and Kuwait, promoted by the Italian government to accompany local businesses towards the most promising markets in the Persian Gulf area. These represent the more stable operating contexts in the whole region and will continue to offer important new opportunities for Made in Italy in a variety of sectors: from hydrocarbons to refining, from instrumental mechanics to construction, from consumer goods to organized distribution. According to SACE forecasts, from 2014 to 2017 Italian sales in the main markets of the region (United Arab Emirates, Saudi Arabia and Qatar) are in fact expected to grow at an average annual rate of approximately 9%. A potential then that is reflected in the operations of SACE in the area where they are being studied 2 billion euros of new projectsmainly in the steel, plant engineering and construction sectors, essential to support infrastructural development and urbanization in which the countries of the region are investing heavily due to high budget surpluses, despite the uncertainty of the regional context and some tensions on the internal labor market.
In the light of demographic growth and industrial development plans, local governments are investing in new technologies for sustainability, such as systems for water treatment, desalination, waste disposal and recycling, with new business opportunities for Italian companies. Not forgetting the energy diversification processes, in particular towards renewable sources such as photovoltaics. Large investment plans in social housing, logistics and infrastructure are also fueling the demand for medium-high technology goods, as well as specific know-how not yet developed in the region. In this context, growth performances above the regional average are expected for Made in Italy exports in sectors such as industrial machinery (+9,5%), electrical appliances (+11,4%) and metals (+9%). Qatar is playing a driving role, thanks to the launch of ambitious infrastructural and urban development programmes, including a 7 billion dollar investment plan for the expansion of the port of Doha. The transformation of the city goes in this direction a world capital of Islamic finance, able to compete with the squares of Kuala Lumpur, Geneva, London and Manama. Abu Dhabi also recently approved a new 4,3 billion plan for the expansion of the road network and social welfare structures. And, in this context, the growing demand for high-end products will drive the performance of the more traditional Made in Italy sectors, such as fashion, textiles and clothing (+12,1%), footwear and jewelery (+9,3%) and furniture (+11,2%). Italian furnishings and interior design are in fact in great demand not only by consumers but also to complete the new public and commercial spaces under construction.
Il portfolio of operations insured by SACE in the Gulf area amounts to €3,5 billion. These operations mainly concern large investment projects in the oil & gas, metallurgical, chemical and petrochemical sectors carried out on a project finance basis, which involve numerous Italian companies of all sizes, directly or as subcontractors. For information on some of the major transactions concluded by SACE in the Gulf countries, please refer to the official press release.
