Italian agency plans $1.3 billion to boost trade and investment with Vietnam

Key sectors in the pipeline include electrical equipment, automotives, agribusiness, and renewable energy. The announcement made as part of a SACE mission to Southeast Asia.

SACE plans $1.3 billion to boost trade and investment relations with Vietnam

With an overall transaction portfolio of $260 billion, SACE serves as a trade catalyst, offering international corporations and governments a comprehensive array of insurance and financial solutions to facilitate the acquisition of Italian technologies and products necessary for their investment and growth plans. Notable Vietnamese groups like Nutifood and PVPower are among SACE's key partners in Vietnam.

"I am pleased to be here alongside key industrial and financial players in Ho Chi Minh City," remarked Michal Ron, chief of International Business at SACE.

Marco della Seta, Italian Ambassador to Vietnam, said that Italy has a unique export quality with an industrial model comprising large companies, and a robust SME supply chain, ensuring unparalleled, tailored services.

“With a highly competitive national export support system, Italy aims to become an even more strategic trade and industrial partner for Vietnam,” the ambassador said.

Ron further said that SACE was looking with keen interest at Vietnam's significant growth and sustainable transition plans.

“Italy is a leading European producer of high-quality machinery across various industrial sectors, renewable energy technologies, and environmental goods. Through our insurance and other solutions, SACE is ready to offer them at competitive terms. Under our innovative Push Strategy scheme, we have already guaranteed over $10 billion to support global industrial and infrastructure development plans involving Italian suppliers,” he added.

As part of the Push Strategy, SACE provides international corporations access to medium- long-term financing, backed by SACE guarantees to support their investment and growth plans.

An integral part of agreements with international buyers is their commitment to consider “Made in Italy” supplies for their investment plans, facilitated by a series of business matching meetings organised by SACE in partnership with international business associations and organisations.

SACE has already conducted over 160 business matching events involving around 6,000 Italian companies, predominantly small- and medium-sized enterprises (SMEs).

Vietnam has emerged as a compelling destination for Italian companies seeking growth opportunities in Southeast Asia.

The country has experienced the fastest economic expansion in the area, averaging nearly 5 per cent of GDP annually from 2018 to 2022.

Furthermore, its commitment to openness have made it an appealing investment destination and has attracted increasing attention from Italian businesses, which resulted in over €6 billion in trade last year.

SACE is Italy’s Export Credit Agency and insurance and finance group controlled directly by the Ministry of the Economy and Finance, specialised in supporting businesses and the national economic system through a wide range of tools and solutions to support competitiveness in Italy and worldwide.

For over 45 years, SACE has been the reference partner for Italian companies that export and grow in foreign markets.

It also supports the banking system through its financial guarantees, to facilitate companies' access to credit, support liquidity, and make investments for competitiveness and sustainability as part of the Italian Green New Deal, starting in the domestic market.

The group is present worldwide with 13 offices in target countries which have a role in building relationships with primary local counterparts and, through dedicated financial instruments, facilitating business with Italian companies.

With a portfolio of insured operations and guaranteed investments, SACE serves over 50,000 companies, especially SMEs, supporting their growth in Italy and in around 200 foreign markets.

Italy - Vietnam's fourth largest EU trade partner Italy - Vietnam's fourth largest EU trade partner (infographics)

Vietnam, Italy look to optimise business opportunities Nearly 100 delegates representing Vietnamese and Italian organisations and businesses attended the Vietnam-Italy trade promotion forum in Rome on September 19.