Sace announces the opening of its new office in Dubai which will take the form of a real hub for activities on the Middle East and North African markets. The purpose of the company led by the Chief Executive Officer Alessandro Castellano is to confirm the growth strategy and control of foreign markets with the greatest potential to meet the needs of Italian companies and their local counterparts.
The new Dubai office will correspond to a portfolio of insured transactions and guaranteed investments exceeding 5 billion euro, over 70% of which concentrated in the Gulf Countries, and a pipeline of new projects under study for an overall value well over 5 billion EUR.
“Supervising this area up close is an indispensable choice today and a strategic one for the future – said Marco Ferioli, Middle East and North Africa Manager at SACE, head of the Dubai office -. In 2015 alone, Italian exports to the Emirates exceeded 5,5 billion euros and the push towards a diversified economy, with infrastructures up to par, enlivens the whole region, with investment projects ranging from infrastructures to sectors of consumer goods. A change of course that could lead to an increase in Italian exports of over 2 billion euros by 2018. We are evaluating new operations in an increasingly diverse range of sectors: not only oil&gas, chemicals and petrochemicals, but also sectors such as those related to tourism, fashion, agri-food, furniture and various industrial technologies, where Italian companies, including SMEs, boast recognized know-how and have all the credentials to position themselves successfully" .
Particular attention will be paid by Sace to the potential associated with Expo Dubai 2020 and to infrastructural investments in the area. The Italian company has in fact made available to the Dubai Aviation Corporation a 1 billion euro credit line intended to support exports and investments of Italian companies involved in the Dubai South project, an area of 145 km2 which will host the new Al Maktoum international airport and Expo Dubai 2020. Still in the Emirates, the company led by Castellano recently signed a Memorandum of Understanding with Abu Dhabi Ports, which provides for the evaluation of important projects for Italian companies, in particular with respect to the development of Khalifa Port, the port of Abu Dhabi and the Kizad free zone.
Thanks to this new opening, the offices of Sace's international network rise to 9 in the main emerging markets of strategic importance for Italian exports (Brazil, Russia, India, China, United Arab Emirates, Mexico, Romania, South Africa and Turkey).
