ROMA (ITALPRESS) – SACE, the Export Credit Agency participated by the Ministry of Economy and Finance, has signed new agreements in support of the growth of Italian exports and the consolidation of economic relations between Italy and Saudi Arabia, on the occasion of the Italian-Saudi Arabia Entrepreneurship Forum, organized by the Minister of Foreign Affairs and International Cooperation in collaboration with the ICE Agency. At the Forum, which saw the presence of the Vice-President of the Council and Minister of Foreign Affairs and International Cooperation Antonio Tajani and Saudi Minister of Investment Khalid A. Al-Falih, the leadership of SACE, President Guglielmo Picchi and CEO Michele Pignotti took part. Present in the Area with offices in Dubai (since 2016) and Riad (from 2024), SACE, through these agreements, aims to strengthen its role alongside Italian exporting companies, facilitating access to opportunities in key areas such as energy, infrastructure, investments, urban and cultural development, tourism, technologies and advanced services.
Here’s the deal in detail. Saudi Electricity Company (SEC) – finalized a $1 billion Push Strategy operation with Saudi Electricity Company, the UK’s leading electricity utility and regional leader in energy production and distribution, to support Italian exports by increasing the supply of Italian goods and services through targeted business matching initiatives. Saudi EXIM Bank – signed an agreement with Saudi Export-Import Bank for the reinsurance of projects of common interest, which involve Italian and Saudi companies in third countries. Today’s initiatives strengthen SACE’s commitment to a priority market for the Italian Export Plan. In Saudi Arabia SACE counts on a portfolio of secured investments and exports of 6.6 billion euros and where, with the aim of being an opener to Made in Italy, has already involved in the past two years over 120 Italian companies in business matching initiatives with high potential Saudi counterparts.
“SACE, as an Italian Export Credit Agency, has for years been a reference point for Italian companies active in the Arabian Peninsula, thanks also to the presidio guaranteed by our office in Riad. Our presence on the territory allows us to listen to the needs of companies, strengthen dialogue with Saudi institutions and enhance the contribution of Made in Italy in the great projects of the Country as Vision 2030. The agreements signed today represent a further step in this direction,” said SACE President, Guglielmo Picchi.
“Saudi Arabia is a strategic market for the country system and this is fully reflected in SACE’s activities – said SACE CEO Michele Pignotti. The agreements signed today represent a further step in encouraging the entry of Made in Italy into the large Saudi investment plans, enhancing the role of Italian companies in the country’s transformative projects. Not only in the energy sector, but also in other sectors that look to the future as infrastructure, investments, urban and cultural development, tourism, technologies and advanced services”.
– photo print office SACE –
(ITALPRESS).
