Despite these obstacles, there are multiple reasons to remain optimistic about business possibilities. “Many governments are prioritizing helping their economies become more innovative, sustainable, and competitive,” says Nicholas Verna, Head of Surety and Guarantee Allianz Trade in North America. “They’re doing this through projects like high-speed railways, digitization and renewable energy production.”
In the EU, thanks to recovery and corporate investment plans, there are strong opportunities for leading economic sectors to grow over the next few years. Stefano Martelli, Head of Risk Underwriting Surety and Guarantee for Allianz Trade in MMEA, looks to Italy as a representative example of the region.
“Italian companies are facing major challenges, including access to capital, growth, advancing technology, inflation, and political instability that creates trade and supply chain problems,” he says. “In response, Italy is investing over €200 billion in a recovery and resilience plan focused on building competitiveness, innovation, mobility, education, and green technologies.”