MILAN: A large Saudi delegation is currently visiting Italy to explore opportunities for collaboration in industrial transformation and sustainable energy.
This visit marks the beginning of a series of Saudi-Italian business forums aimed at strengthening economic, investment, and trade relations between the two nations.
The visit, which runs from Monday to Wednesday, is organized by the Saudi-Italian Business Council, the Ministry of Investment, and the Saudi embassy in Rome, in collaboration with Italian institutions.
Kamel Al-Munajjed, chairman of the Saudi-Italian Business Council, announced that this is the largest Saudi business delegation to Italy to date, with 100 participants, including over 20 representatives from government ministries and agencies.
The delegation also includes private sector leaders from a range of fields, such as renewable energy, advanced manufacturing, logistics, tourism, food, agriculture, real estate, healthcare, and modern technologies.
Al-Munajjed stated that the forums will focus on key topics in the knowledge economy, including industrial transformation, sustainable energy, smart cities, innovation, and supply chain dynamics.
The events will feature bilateral meetings and site visits to leading Italian companies and projects.
The first event, the Saudi-Italian Business Forum, was held in Milan on Monday, followed by a joint forum with the Italian Confederation of Craft Trades and Small- and Medium-Sized Enterprises (CNA) on Tuesday.
The final forum, with Unione Industriali (Federation of Industrialists), will take place at the Centro Congressi in Turin on Wednesday.
Among the business leaders attending the forums is Abeer Al-Ghamdi, Founder and CEO of Hayyak Arabia Travel and Tourism. She emphasized the delegation’s goal of attracting more visitors to Saudi Arabia and showcasing the Kingdom as a top destination.
"Our focus is on managing tourist destinations and offering programs that highlight Saudi culture and diversity, providing unforgettable experiences for every visitor," Al-Ghamdi said.
Yousef Maimani, a board member of the Saudi-Italian Business Council, reflected on the long-standing partnership between Saudi Arabia and Italy.
"We signed our first cooperation agreement in 1932, and two years ago, we celebrated 90 years of diplomatic relations," Maimani noted.
He also highlighted the importance of agreements on double taxation and investment protection in fostering investment, particularly in Italy's industrial sector.
Maimani further pointed out the significance of local content policies in major projects, noting opportunities for Italian firms to contribute to Saudi Arabia’s ongoing development.
He also shared that Saudi Arabia has attracted $96 billion in foreign investments, underscoring the potential for further collaboration between medium-sized enterprises in both nations.
Luca Barbi, General Partner and COO of STV, a venture capital firm, expressed optimism about the partnership.
[Reported by Arab News]
