Firms: Sace, operations worth 1.4 bln in Algeria, Morocco

Made in Italy on Algerian market can grow 5.8% a year

15 September, 19:01

    Economic Development Minister Federica Guidi. Economic Development Minister Federica Guidi.

     - ROME - There are new opportunities for Italian firms in Algeria where Sace is studying operations to support exports and investments worth a total of 1.2 billion euros, said the insurance and financial group that is currently visiting Algiers with Economic Development Minister Federica Guidi. The operations, the group also said, focus in particular on industrial technologies for oil and gas and for infrastructure and construction. According to Sace's forecasts, which considers Algeria - eighth producer and fourth exported of gas worldwide - among countries with the greatest potential based on the export opportunity index (76/100), over the next four years Italian exports to Algeria will be able to grow an average of 5.8% a year, led by instrumental mechanics in its various sectors. Sace then confirmed its full availability in supporting exports and the internationalization of Italian companies in Morocco, the second stopover of the ministerial mission.

    In the Maghreb country, the group has in fact studied new operations of some 180 million euros, in particular in the sectors of mechanics and transport, and observing with attention the strategic sectors of the country: investments in the mineral sector (phosphates), construction (civil construction and infrastructures) and manufacturing (agribusiness, chemical and refinery).

    The Moroccan market, the note also said, is characterised by a political-operational context that is substantially stable and by a growing economy, open to investments and exchange, which is gaining a reputation as a hub of reference across the region thanks to free exchange agreements and commercial relations with partner countries (US, EU, EFTA and Arab countries).

    In order to support Italian companies in the southern shore of the Mediterranean, Sace has recently set up a desk dedicated to the Middle East and North Africa, the second area in terms of exposure with some 4.9 billion euros, worth 13.2% of the group's total exposure. 

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