Dec. 19 – The thaw between Washington and Havana – with all its possible economic implications – can open interesting opportunities for Italian companies. And so, SACE confirms its support to companies operating or intending to operate in Cuba, a country that, in recent years, saw Sace gradually expand its operations by virtue of the positive signals coming from the political and economic context. “Several elements concurred to this gradual opening – said in a statement the group, specialized in the export credit – including the success of the mission organized last year to assess business potential and bank reliability,” as well as “the 2011 agreement between Sace and the Government of Cuba to restructure short-term debt, which has been honored so far with regular payments, while international negotiations continue on the restructuring of the medium to long term debt.” In collaboration with Banco Nacional de Cuba and other local banking counterparties, Sace is considering operations in support of projects in mechanical engineering, infrastructure and construction and energy; these are functional areas for Cuba’s industrial and socio-economic development, areas in which Made in Italy has a lot to offer, benefiting from the recent “Ley de Inversión Extranjera” that, in addition to offering tax benefits to foreign investors, reduced barriers to imports for industrial machinery, which already represents 33% of Italian exports to the country. (Red)
