MILAN, Apr 15 (Class Editori) – Sace-Simest is currently examining projects for 5 billion dollars in the UAE. The country is today the first target market for Italian exports in the Gulf area. The Cdp group's internationalization hub signed a reinsurance agreement with Etihad Credit Insurance, the UAE export credit agency, to support Italian companies operating on the local market.
The agreement will allow Sace BT, the company specialized in short-term credit insurance, to make available to Italian companies and their subsidiaries operating in the UAE, their own insurance solutions for the protection of turnover and of an effective cash flow management.
This is the first concrete step towards a broader agreement following last year signing. Among the key points of the agreement is the development of trade between Italy and the UAE, with a particular focus on the Halal Industry through insurance-financial solutions consistent with the principles of Islamic finance (Shariah-compliant ).
"We have long built a strategic partnership with Etihad Credit Insurance, working together to enhance support for investment and exchange between our countries, increasing opportunities and mitigating the risks for Italian companies operating on this key market," declared the managing director of Sace Alessandro Decio in Dubai, as part of the mission of the deputy premier and Minister of Labor and Economic Development Luigi Di Maio. "This agreement will enable us to effectively reach Italian companies, their subsidiaries and investee companies active in the UAE with solutions to protect their business and concretely improve the management of financial flows".
Sace will address its collaborations to the sectors of energy, infrastructure, transport and logistics and agribusiness. "We are ready to help SMEs to seize the best opportunities through our Dubai office and the many initiatives dedicated by the hub to this market, which not only is among the most attractive for Made in Italy but is also a strategic hub for business throughout the Middle East area," added Decio.
The Sace Simest hub has already signed a letter of interest to support projects at Expo 2020 in Dubai which directly or indirectly involve Italian companies. Furthermore, a collaboration agreement was signed with the Section General Commissioner for the international exhibition in order to support companies involved in the design, construction and setting up of the Italian Pavilion.
The company is also working with the Dubai Aviation Corporation to promote exports and investments of companies involved in the Dubai South project, a 145 square kilometers area that will host the new international airport Al Maktoum and Expo Dubai 2020. He also collaborating with companies involved in the Etihad Rail national railway project.
(Source:Class Editori)
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