SACE - 31 March 2025

Italy to expand commercial ties with the Philippines: SACE announces $600 million partnership with San Miguel Group to open new opportunities for Italian exports

SACE, Italian insurance and financial group owned by the Ministry of Economy and Finance, announces its first “Push” Deal dedicated to developing new Italian export opportunities in the Philippines.

The transaction features SACE alongside San Miguel Group, one of the largest and most diversified conglomerates in the Philippines. SACE has guaranteed a total financing of €600 million, provided by Sumitomo Mitsui Banking Corporation. The transaction aims to maximize business opportunities for Italian companies, facilitating their access to the Philippine market through Business Matching activities. The Push Strategy is a SACE program offering Italian companies a passport to international markets, guaranteeing financing to foreign counterparts committed to increasing purchases of goods and services from Italy. Business Matching, a key element of the strategy facilitates targeted meetings between Italian and foreign companies to develop new collaborations and expand export opportunities.

The signing event was celebrated in Manila.

The agreement between SACE and San Miguel creates a structural connection between Italian production chains and one of the main economic players in the Philippines,” announced the Italian Ambassador to the Philippines Davide Giglio. “It therefore establishes a link between the two economic systems that can act as a powerful catalyst for bilateral trade”.

We are proud to celebrate our first Push operation in the Philippines, a market with enormous potential for Italian exports, and to do so alongside a player of primary standing and global relevance such as the San Miguel group,” said Michal Ron, Chief International Business Officer of SACE. “This agreement marks the start of an important collaboration, which will generate impacts and benefits for all parties involved.”

SMC Chairman and CEO Ramon S. Ang. said: “Our partnership with SACE and SMBC helps us continue the kind of projects that bring real improvements to more families and communities across the Philippines. This is also our first time to work with SACE, and it reflects the growing relationship between the Philippines and Italy. Our two countries are working more closely, through trade, investments, and shared priorities. And with a strong Filipino community in Italy, that connection continues to grow stronger”.

SMBC is pleased to partner with SACE and San Miguel Corporation on this landmark transaction which is also SACE’s first Push operation in the Philippines and its largest in Southeast Asia to date. This transaction will support San Miguel Corporation’s diversified business operations and enhance its engagement with Italian suppliers and businesses” said Luca Tonello, Managing Director and Co-Head of Structured Finance Department Asia Pacific of SMBC.

Documents

Would you like more information?
Contact us +39 06.6736.888 [email protected]

Ultimi comunicati

SACE - 31 March 2025
Backed by SACE and provided by Sumitomo Mitsui Banking Corporation, this is the first SACE “Push” Deal in the Philippines
Agreements SACE - 05 March 2025
The MoU focuses on providing financing support for cooperation between Italian companies in the private sector and PIF and its portfolio companies It represents a continuation of PIF’s strategy to build and maintain strong relationships with leading international financial institutions and further diversifies its range of financing instruments The MoU will contribute to facilitating Italian companies’ businesses with Saudi Vision 2030 projects
Deals & Products SACE - 24 February 2025
The collaboration, for an amount up to 250 million dollars, aims to facilitate the exports from Italy and the internationalization of Italian companies and develop projects in Middle East and Africa, focusing on strategic sectors such as renewable energy production, water and desalination, green ammonia and green hydrogen production.