Saudi-Italian Investment Forum in Riyadh Sees Signing of 22 Agreements Across Strategic Sectors
Riyadh, The Gulf Observer: The Saudi Ministry of Investment, in collaboration with the Italian Trade Agency, convened the Saudi-Italian Investment and Business Forum in Riyadh on Tuesday, resulting in the signing of 22 investment agreements across a wide range of strategic sectors including telecommunications, IT, trade, tourism, healthcare, agriculture, water, culture, and sports.
The high-profile forum was held in the presence of Minister of Investment Khalid Al-Falih and Italy’s Deputy Prime Minister and Minister for Foreign Affairs and International Cooperation Antonio Tajani. It brought together 1,600 participants, including representatives from more than 600 Italian companies — marking one of the largest Italian business delegations to visit the Kingdom.
The event is part of a series of joint investment initiatives reflecting the deepening partnership between Saudi Arabia and Italy, reinforced by high-level engagements between the leadership of both countries.
In his opening remarks, Minister Al-Falih noted that Saudi-Italian relations are experiencing a historic period of growth, underpinned by more than 90 years of diplomatic and economic cooperation. He highlighted the unprecedented participation at the forum — including 800 attendees from Italy — as evidence of the strong commitment on both sides to expanding economic collaboration.
Al-Falih recalled Italy’s early establishment of formal relations with the Kingdom in the 1930s and noted that ties have since evolved into a strategic partnership spanning investment, energy, industry, and culture. He emphasized that the Al-Ula Summit between Crown Prince Mohammed bin Salman and Italian Prime Minister Giorgia Meloni marked a turning point through the establishment of the Saudi-Italian Strategic Partnership Council, which now guides long-term cooperation.
The minister further stated that recent roundtable engagements between ministerial and private-sector leaders resulted in 26 agreements and MoUs exceeding $10 billion in value. He also noted Italy’s early confirmation of participation in Expo 2030 Riyadh, underscoring the strength and future-oriented nature of the bilateral relationship. The Italian delegation has already begun field visits to major Saudi projects, including those in Diriyah with Italian involvement.
Highlighting cooperation in the energy sector, Al-Falih pointed to joint initiatives in clean hydrogen, renewable energy, smart grids, and the circular carbon economy, involving major companies such as Aramco, SABIC, and ACWA Power from Saudi Arabia, and Eni, Enel, SNAP, and Saipem from Italy.
He also underlined Italy’s contributions to the Kingdom’s advanced industries through companies like Leonardo, Fincantieri, and Electrónica, which support programs in defense, space, and cybersecurity, while benefiting from Saudi Arabia’s green transition and efforts to attract energy-intensive industries.
The forum concluded with discussions on economic opportunities, recent developments in the Saudi economy, and the Kingdom’s large-scale projects and advanced infrastructure — all of which present significant prospects for enhanced cooperation between the public and private sectors of both nations.
