Dunya - Italian credit management group SACE inaugurated its first office in Istanbul, Turkey. SACE’s local branch will assist Italian companies investing in Turkey with a range of insurance, financing and credit-management products.
SACE looks on Turkey as strategically important with over 100 deals signed for various projects in the country in the last two years alone. Turkey’s proximity to the Middle Eastern countries, as well as its vast potential are other contributing factors for the Italian company’s decision to expand their presence. “Turkey clearly is the most promising country in its region”, said SACE Chairman Giovanni Castellaneta in the opening ceremony, adding that the country is growing rapidly after the global economic crisis.
SACE’s operations will be in cooperation with the Investment Support and Promotion Agency of Turkey (ISPAT), which in turn will help Italian companies find partners for manufacturing deals. The cooperation between ISPAT and SACE involves strengthening ties between Turkish and Italian companies, as well as enabling the transfer of technology and know-how.