New SACE office in Singapore

24 May 2024 | News

The inauguration of the new SACE office in Singapore, in collaboration with the Italian Embassy and Consulate in Vietnam, alongside the recently established office in Ho Chi Minh City, represents a significant step towards fostering growth opportunities for Made in Italy enterprises across Southeast Asia.

Marking this milestone was the “SACE Meets Singapore” event, a gathering that convened over 150 representatives from the financial, business, and institutional spheres in Singapore, co-hosted by the Italian Embassy.

SACE, the insurance-financial group backed by the Ministry of Economy and Finance, is dedicated to empowering local and global Italian businesses and endeavors to bolster trade and business ties between Italy and Singapore. Emphasizing SACE’s role as a facilitator and supporter, the event underscored the solutions SACE offers, including insurance, financial products, advisory services, training, and business matching.

Central to the discussions was the Push Strategy program, wherein SACE extends medium to long-term financing to large enterprises and foreign governments, with the funding secured by SACE. This initiative aims to fuel investment and growth agendas, with a commitment to evaluate Made in Italy supplies as part of investment plans. SACE organizes business matching meetings between Italian SMEs and foreign procurement teams to facilitate this commitment, fostering collaboration opportunities.

Highlighting one such collaboration, a significant 500 million euro initiative with Olam Food Ingredients (“ofi”), a global leader in the food and beverage ingredients sector, was spotlighted during the event. This initiative aims to fortify the Italian coffee roasting supply chain by ensuring the import of high-quality raw coffee while opening new avenues for export.

The event featured Fabrizio Ceccarelli, Head of SACE Singapore & Southeast Asia; Italian Ambassador to Singapore Dante Brandi; Italian Ambassador to Malaysia Massimo Rustico; Michal Ron, Chief International Business Officer of SACE; and Aditya Renjen, Treasury & Investor Relations ofi, showcasing the depth of collaboration and commitment towards fostering economic ties between Italy and Southeast Asia.