All the next moves of Sace according to Latini
What Sace CEO Pierfrancesco Latini said to "Made in Italy: the Restart – The relaunch of the Italian economy in the post Covid world", a digital event organized by Il Sole 24 Ore and Financial Times
The impact of the pandemic "is evident on the entire economic system", however, "despite the severity of the shock, we see the conditions for a restart of our country". This was stated by Pierfrancesco Latini, CEO of Sace, during the 'Made in Italy: the restart' event organized by Il Sole 24 Ore and Financial Times .
Here is what the head of the Sace company said in summary and after all the full intervention.
THE SCENARIO ACCORDING TO SACE
The recovery "can only be driven by the economic resilience factors, such as exports, Made in Italy, food, mechanics, engineering and tourism, which are sectors in which Italianness is synonymous with quality and creativity ”, said Latini, underlining that it is precisely from here that we need to“ start again to sustain the competitiveness of the system ”.
THE RECOVERY PROVIDED BY LATINI
In this context, exports can only play a fundamental role: "We await an almost total recovery already in 2021, after the decline expected for this year", said Latini, stressing that Sace "is ready to do its part. alongside companies, through a well-structured approach to supply chains. Our role is synonymous with supporting exports and internationalization ”.
THE OPERATIONS OF SACE AND THE ROLE OF GUARANTEE ITALY
Sace's operations, explained Latini, “allowed us to mobilize huge resources, amounting to 16 billion euros in the first nine months of the year, an increase compared to last year, despite the adversity of the context. A commitment strengthened by the government instruments made available, such as the Italian Guarantee , which sees us committed together with the banking system to respond to the need for liquidity, which has made it possible to provide loans supported by our public guarantee to date for more than 15 billion for over 600 companies. In total, we mobilized over 30 billion euros for businesses in the first part of the year, a very important result ”.
STAGES AND CHALLENGES OF SACE ACCORDING TO LATINI
For the next few months "there are still many challenges on the table that we are drawing up in the new Industrial Plan, through which we will project Sace into the near future", Latini also said, underlining that the company will first of all take steps to give "greater support to exports, thanks to an advanced co-insurance system between Sace and the Ministry of Economy and Finance on the model of the most advanced European systems, to support not only large projects and large companies but also the dimensional development and the number of small businesses that appear on international markets ".
THE PUBLIC GUARANTEES PROGRAM
Latini explained that Sace will undertake to push the relaunch of the national economy not only in the emergency, but also in the relaunch phase, in a more structural logic: "This through an important program of public guarantees, no longer bound only to export and internationalization projects, but also to support domestic projects precisely to support the relaunch of the national economy and its competitiveness on foreign markets ".
THE GREEN NEW DEAL DOSSIER
A third trajectory on which the group intends to move "is that of supporting sustainability through the resources and tools of the Green New Deal, a new important element introduced by the Simplification Decree of July, thanks to which Sace will be able to contribute to the path towards an economy sustainable, by issuing public guarantees in favor of Green New Deal projects, starting with decarbonisation, the circular economy and projects, more generally, with high environmental sustainability ".
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Below is the full speech by Sace CEO Pierfrancesco Latini at "Made in Italy: the Restart – The relaunch of the Italian economy in the post Covid world", a digital event organized by Il Sole 24 Ore and Financial Times:
Hello everyone and thanks again to all the people connected today.
I am really happy with Sace's participation in these days which represent an extraordinary opportunity for reflection among all the protagonists of the Italian system. To confront ourselves, but also to look at our country from the outside, not only in a European but also a global perspective.
It is undoubtedly a period of great complexity, in which the consequences of the pandemic have been added to the uncertainties inherited from 2019 [GDP and falling trade, protectionist escalation and geopolitical instability], with objectively evident impacts on the entire economic system.
Yet – we recently saw this in our Export Report launched in recent weeks – despite the severity of this shock, we see the conditions for a restart for our country.
A restart that has been repeatedly recalled in the course of the speeches that preceded me and which can only be driven by those great resilience factors of our economy which are exports and above all our sectoral excellence. We can only start from the "Made in Italy".
Fashion, Furniture & Design, Food, Mechanics, Engineering [as Di Amato by Maire Tecnimont has well emphasized]. We saw it yesterday. These are sectors, to which I would also add tourism, in which the Italian spirit is a recognized synonym of quality, reliability and creativity.
We are talking about companies rooted in our territories, which branch out through supply chains and districts in all the Italian regions and project themselves onto the international markets. This is where we have to start again. From these vocations, the “Made in Italy” vocations. Not only to give strength to exports, but for the competitiveness of the entire country system.
In this restart, exports will certainly play a propulsive role. Exports for which we foresee an almost total recovery already in 2021, after the expected decline in an important way for this year.
Italy is a large exporting country. The fourth in Europe for the total export of goods [after Germany, the Netherlands and France], but the third in the world [after giants like China and Germany] for consumer products, among which the Food, Fashion and the furniture.
But in this match Italy must be able to play on equal terms, in Europe and in the world.
For this we need infrastructures, the indispensable springboard for the competitiveness of our companies. Not just physical (roads, highways, efficient logistics networks). But also digital.
Italian e-commerce has been traveling for years on double-digit growth rates, yet [it has been repeatedly recalled in these days] in absolute value we are still lagging behind the world giants [USA, China, Japan] and European [Kingdom Kingdom, France and Germany]. And for a country with our propensity to export we are talking about a truly important potential that is still unexpressed.
All this must go hand in hand with a global trend that is now unavoidable: that of sustainability. Today, environmental sustainability in particular is a central theme. Not only because the awareness of the need for a sustainable approach for the future of our planet and for generations to come has matured.
But also because there is now a strong focus on “green” sectors, just as a great opportunity for investment, growth and employment for the entire production system.
In this sense, the country's priorities are intertwined with those of the Green New Deal [the great plan that sees all European countries committed to achieving the so-called neutrality of polluting emissions by 2050]. I am personally convinced of this: there will be no real restart without a clean and circular economy, without sustainable mobility, without a deep integration of industrial cycles with low-emission technologies.
And Sace is ready to do its part in this direction. Alongside both large companies and small and medium-sized enterprises that are the basis of Made in Italy and Italian exports. And all this also through a well-structured approach to supply chains.
Our role today. Sace is the Italian Export Credit Agency, which for over forty years has been synonymous with supporting the export and internationalization of Italian companies.
23 thousand companies served in almost 200 countries and a portfolio of operations worth over 130 billion euros: all this thanks to an integrated insurance-financial offer, with a high degree of digitalization achieved over time, to accompany companies in every phase of the internationalization and export promotion.
This operation has allowed us this year to mobilize resources to support exports and internationalization for more than 16 billion euros these first 9 months, growing despite the adversity of the context.
A commitment reinforced by the government instruments made available this year.
We know one of these and it is fully operational: Guarantee Italy, which sees us engaged with the banking system to respond to the liquidity needs of companies affected by the Covid-19 shock and which has allowed us to provide loans supported by our guarantee. for more than 15 billion euros for almost 600 companies. And all the requests received by Sace were handled and processed in less than 48 hours.
All this has led us to exceed the exceptional goal, also in relation to the reference context, of 30 billion euros mobilized to support businesses in these first 9 months of the year.
And I remember that behind every operation carried out with Sace, there is never just the directly beneficiary company, but all the related activities that with the operation move on the territory, for the workers, for the suppliers, for the employees and the families. And that is multiplied through the supply chains.
But let's get to the prospects.
For the next few months there are still many challenges on the table that we are drawing up in the new Industrial Plan, through which we will project Sace into the near future. According to three trajectories.
The first trajectory: greater support for exports. This is thanks to an advanced system of co-insurance between Sace and the Ministry of Economy and Finance (so-called State account) on the model of the most advanced European systems, to support not only large projects and large companies but also dimensional development and number of small businesses entering international markets. A measure which, in synergy with the great work undertaken as part of the Pact for exports [we talked about it during the first day] with the Farnesina and the ICE, will certainly strengthen Sace's ability to act and of Simest in supporting Italian exports.
The second trajectory. The push to relaunch the national economy not only in the emergency but also in the relaunch phase, in a more structural logic. And this through an important program of public guarantees, no longer tied only to export and internationalization projects, but also to support domestic projects precisely in support of the relaunch of the national economy and its competitiveness on foreign markets.
A third trajectory, transversal to the others, is that of supporting sustainability through the resources and tools of the Green New Deal: a new important element introduced by the Simplification Decree of July, thanks to which Sace will be able to contribute to the path towards a sustainable economy, issuing public guarantees in favor of Green New Deal projects, starting with decarbonisation, the circular economy and projects, more generally, with high environmental sustainability.
In conclusion: export support starting from national sectoral vocations; a transversal commitment to infrastructures and digital innovation; all this to create a more competitive and more sustainable system… This is, in summary, the commitment that Sace and its structures are putting into place. A commitment that is part of a collective and systematic effort that looks to the future of this country.
Being here today, being part of this event which, objectively, is an unprecedented international observatory due to its magnitude, testifies to this.
And it is giving us back all the sense of common commitment, of the teamwork between all the representatives of institutions, finance, companies, which never before sees us all oriented towards a single goal. That of the restart of our country.
Thank you and I wish everyone a good job.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/economia/tutte-le-prossime-mosse-di-sace-secondo-latini/ on Thu, 08 Oct 2020 03:40:57 +0000.