SACE opens a new office in Dubai
The office is evaluating over € 5 billion of new projects and will act as the company hub for Middle Eastern and North African markets
SACE announces today the opening of a new office in Dubai which is expected to become the reference point for its activities in Middle East and North Africa Countries.
This opening confirms SACE growing strategy to cover high-potential foreign markets, meeting the demand of Italian and local counterparty companies and improving its ability to assist them by effectively monitoring their business.
Acting as a regional financial, commercial and logistic hub, the new SACE office will manage a more than € 5 billion portfolio of insured transactions and guaranteed investments - over 70% of which are concentrated in Gulf Countries - and a pipeline of new projects under consideration which is worth well over € 5 billion.
“Closely overseeing this area is indispensable today and strategic for the future" declared Marco Ferioli, SACE's Middle East and North Africa area manager and head of the Dubai office. “In 2015, Italian exports to the United Arab Emirates exceeded € 5.5 billion. A drive toward a diversified economy, with enhanced infrastructure, is animating the entire region, with investment projects ranging from infrastructure to consumer goods. This new direction might lead to a potential increase in Italian exports by over € 2 billion by 2018. We are considering new projects in a broad variety of sectors: not only oil & gas, chemicals and petrochemicals but also tourism, fashion, agro-foods, home furnishings and various industrial technologies, in which Italian companies, including SMEs, possess a widely-recognized know-how and have all what it takes to position themselves with success."
SACE is considering with particular attention the potentialities deriving from “EXPO Dubai 2020” and the infrastructure investments in the area. In fact, SACE has made available to the Dubai Aviation Corporation (DACC) a 1 billion euro credit line in order to support exports and investments of Italian companies involved in the Dubai South project. This is an area of 145 km2 that will host the new Al Maktoum international airport and EXPO Dubai 2020. SACE also recently signed a Memorandum Of Understanding with Abu Dhabi Ports which provides for the assessment of major projects for Italian companies, particularly of those related to development of the Khalifa Port, the port of Abu Dhabi, and the free zone of Kizad.
With this new opening the number of SACE international offices in the major emerging markets of strategic interest for Italian exports rises to 9 (Brazil, Russia, India, China, United Arab Emirates, Mexico, Romania, South Africa and Turkey).
SACE in Dubai
The new Dubai office will be a point of reference for companies intending to operate in Algeria, Saudi Arabia, Bahrain, Egypt, United Arab Emirates, Iran, Kuwait, Libya, Morocco, Oman, Pakistan, Qatar, Tunisia and Yemen.
Gate Village 3, Level 1 Office#18 - P.O. Box 127676 Dubai, UAE
Tel: +971 4 40 19164 | Fax: +971 4 4019992 | Email: [email protected]