The signing of the agreement between the Italian group Sace and the conglomerate San Miguel Corporation marks the official launch of Sace's Push Strategy in the Philippines.
The agreement, signed by Michal Ron, Sace's Chief International Business Officer, provides for a USD 600 million loan, disbursed in collaboration with the Japanese bank Sumitomo Mitsui Banking Corporation and guaranteed by Sace The initiative aims to support strategic projects of San Miguel Corporation in key sectors such as energy, infrastructure, and food & beverage, while encouraging the involvement of Italian companies in their respective supply chains.
'This is,' reads the website of the Italian Embassy in Manila, 'a concrete step towards strengthening bilateral economic relations between Italy and the Philippines. Sace's Push Strategy, launched in 2021 to promote the internationalisation of Italian companies through structured partnerships with selected foreign counterparts, makes it possible to facilitate the entry of Italian excellence into high-potential markets such as the Philippines".
"This agreement," said Ambassador Davide Giglio, who attended the signing ceremony, "represents an important recognition of the quality and competitiveness of the Italian production system and confirms the growing interest in closer economic cooperation between our two countries. It is a virtuous model that we hope can be replicated in other sectors as well."
The event was also attended by Ramon S. Ang, Chairman and CEO of San Miguel Corporation, confirming the strategic relevance of the agreement.
With this agreement, Italy confirms itself as a reliable partner for the sustainable and innovative development of the Philippines, while strengthening the role of Italian companies in global markets.
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