According to a report from ANSAMed, Italian small and medium-sized enterprises (SMEs) are showing an interest in investment in Libya, Tunisia and Egypt.
But Giulio Dal Magro (pictured), chief economist with SACE, says conditions on the ground vary from country to country, and risk assessments made by SACE depend on different political, economic, financial and operating scenarios. "Libya is 'category 7', the highest", says Dal Magro.
Italy is the third biggest European investor in Libya, excluding hydrocarbon. In 2012 Italian exports quadrupled to pre revolution levels to reach 2.4 billion euro. "In 2013 we saw the return of former contractors who started to test the waters in the oil and gas sectors".
Reconstruction - which could represent a boon for Italy by 2014-2015, remains the only sticking point.