BNLBNP Paribas Group and Societ Italiana per le Imprese all’Estero (SIMEST) have signed an agreement through which they will support steps taken by Italian companies to expand internationally.
The agreement was signed by Fabio Gallia, BNL general manager, and Massimo D’Aiuto, CEO of SIMEST. It will give Italian companies undertaking investment programs and initiatives to set up in markets outside the EU the opportunity to take advantage of specialist and tailored services in countries where BNL operates with its own organisation and professionals.
SIMEST promotes companies’ international expansion by taking equity stakes of up to 49% in foreign companies in which Italian companies also hold a stake. It manages the public venture capital fund, advises and assists companies from the outset until completion of their foreign investments.
Backed by its own “Italian desk” network and BNP Paribas Group’s international presence in over 85 countries, BNL supports companies to set up their businesses on foreign markets with her large offer of products and services offered locally.
BNL’s “Italian desk” offices, which focus exclusively on Italian companies and their foreign branches, are now located in France, Algeria, Tunisia, Turkey, the Persian Gulf, Russia, USA and China. In 2008, the group plans to expand the network with openings in India and Libya.
In view of Italian companies’ existing commercial interests, under the agreement, Algeria, Duba and other Gulf countries, Libya, Turkey, India and Vietnam will be treated as high priority countries for mutual presentation of projects and joint support for companies taking steps to expand internationally.