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SACE inaugurates its Bucharest office and reveals an EUR 215 mn project pipeline in Romania

SACE, the insurance and financial group controlled by the Italian Ministry of Economy and Finance, has celebrated today the inauguration of its new office in Bucharest which will act as a regional hub for all Central and Eastern European Countries.

The new field presence is expected to reinforce SACE's role of business facilitator for Italian and Romanian companies, with forecast of nearly doubling its current portfolio in the Country.

In front of a public composed of companies, banks and institutions, Mario Cospito, Italian Ambassador to Romania and Giovanni Castellaneta, Chairman of SACE, opened the event with a welcoming address. 'With the opening of a Representative Office in Bucharest, SACE reinforces its reach and effectiveness on a key market for Italian export and investment such as Romania – declared Mr. Castellaneta –. With over 20 thousand Italian companies active in the Country, Italy is the first investor and second commercial partner in Romania (after Germany)'.

'SACE offers a wide range of products to foster investment and trade activities of Italian companies in Romania, including the set-up of local subsidiaries - illustrated Raoul Ascari, Chief Operating Officer of SACE -. We may also assist Romanian companies aiming to invest by facilitating better financing terms when they deal with Italian suppliers or partners. In the past two years we finalised over a hundred transactions in Romania, mostly with SMEs. SACE's portfolio in the Country amounts to € 280 million and we are currently working on a additional € 215 million transaction pipeline of new projects. Our new presence in Bucharest paves the way for a further commitment of SACE in Central and Eastern Europe, where Romania holds a strategic position. In the entire region, SACE's portfolio has consistently grown , from € 1.5 billion at the end of 2009 to € 2.3 billion at the end of 2010'.

The new office, managed by Ms. Speranta Tirsar, will be SACE's hub for Romania, Poland, Hungary, Czech Republic, Slovakia, Slovenia, Bulgaria, Moldova, Serbia, Montenegro, Macedonia, Bosnia-Herzegovina, Croatia, Albania and Kosovo.

Sursa: http://www.actmedia.eu

Tags: romania italian companies office bucharest euro

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