| Number 63, May-June 2010 |
| Simest Supporting Companies in the Mediterranean
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| di Giancarlo Lanna, Simest's President |
| MEDITERRANEAN SPECIAL - Export credits, business scouting and participation in the development of industrial parks are just some of the tools made available to promote internationalization |
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 Italian interest for the Mediterranean arises from geographical continuity, the attraction of Italian products and the chance to export whole supply chains of Italian production sectors. However, policies by public bodies to allow Italian companies to move into these markets are necessary.
Simest offers a diversified series of operations in this direction. First of all, it can purchase stakes of up to 49% of the share capital in foreign companies, both directly and through the management of the venture capital fund; it can sustain a whole series of aspects like export credits for capital goods, the financing of feasibility studies and assistance programmes, commercial development and participation in international tenders, etc. In addition, Simest carries out intense “business scouting,” search for local partners for investment and commercial orders - a free service, financed through the dividends that Simest supplies to the Ministry of Economic development as majority shareholder.
North African countries are among those in which SIMEST performs this work, in particular Egypt and Morocco, where SIMEST also takes part in the development of industrial parks. Italian companies which decide to set up in these areas can make use of some economic and logistic advantages. In Egypt, for example, the Robbiki Park for Leather and T anning (near Cairo), for the leather tanning sector, is being completed; the Borg El Arab Industrial Zone, where several Italian companies in the textile-cotton sector have opened offices, is already in full operation.
More generally, Simest has 119 approved participation projects in the area, for a projected investment of more than 3 billion Euros, to which another 46 investment projects can be added on the availability of venture capital, for a commitment of more than 38 billion Euros. In addition, 517 business financing operations have been approved, for a total of 4,645 million Euros, of which 260 are for credit export of about Euro 4,200 million. Further, Simest has been an Eligible Financial Institution for the management of the financial facility Neighbourhood Investment Facility (NIF), promoted by the European Commission for countries of the ENPI neighbourhood in which those of the Mediterranean also take part. The financing distributed by NIF, now 700 million Euros, can be used for financial subsidies, technical assistance and risk capital.
Another new and interesting proposal is the Integrated International System (IIS), a structural agreement between various Italian companies which can operate in complementary sectors to promote a finalized project, also creating partnerships with the local situation. As a result of its specific features, IIS can be strategic for operating in Mediterranean countries where investment is undertaken for the creation of large complex projects, particularly in the logistics and energy fields.
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