UAE and Italy Forge Investment Ties in AI, Healthcare, and Minerals - TECHx Media UAE and Italy Forge Investment Ties in AI, Healthcare, and Minerals
UAE and Italy Forge Investment Ties in AI, Healthcare, and Minerals
The UAE Ministry of Investment has signed three Memoranda of Understanding (MoUs) with Italy to strengthen investment cooperation in pharmaceuticals, minerals, data centers, and artificial intelligence (AI). These agreements aim to drive innovation, enhance technology integration, and facilitate knowledge transfer across key industries, reinforcing the long-standing economic ties between the two nations.
The MoUs were signed by Mohamed Hassan Alsuwaidi, UAE Minister of Investment, and Adolfo Urso, Italian Minister of Enterprises and Made in Italy. They build on the UAE-Italy Economic, Industrial, Technological, and Financial Cooperation Agreement (1984) and the Investment Promotion and Protection Agreement (1995), further advancing bilateral relations.
Mohamed Hassan Alsuwaidi highlighted the importance of these agreements in strengthening economic collaboration and fostering sustainable growth. He emphasized that these partnerships will accelerate progress in healthcare, energy transition, and digital transformation, supporting innovation-driven economic diversification. Adolfo Urso underscored the strategic significance of these MoUs in enhancing cooperation between Italy and the UAE, creating new opportunities in pharmaceuticals, mineral development, and AI-driven digital infrastructure.
The MoU on pharmaceutical investments will focus on healthcare, biotechnology, and pharmaceuticals, with both nations collaborating on vaccine production, regulatory policy development, and R&D in critical medical areas such as oncology, cardiovascular diseases, and rare diseases. AI-driven research, automation in manufacturing, and strategic alliances with leading pharmaceutical companies will also be explored.
In the minerals sector, a five-year MoU will promote sustainable mining, mineral exploration, processing, and recycling. The agreement encourages investment opportunities, workforce development, and responsible mineral sector governance, leveraging government support to connect businesses and expand economic partnerships.
The digital infrastructure MoU focuses on advancing AI and data center investments, including the development of green data centers with a future capacity target of up to 2GW. The partnership will also explore 'Virtual Data Embassies' to ensure secure digital continuity and cross-border data resilience. Companies such as MGX, G42, Khazna, and ENI will play a crucial role in expanding AI capabilities, attracting global cloud service providers, and enhancing digital education through scholarships and expert exchange programs.
Beyond Italy, the UAE is also strengthening global AI collaborations, including a recent AI-focused partnership with France. These strategic initiatives reflect the UAE's commitment to leading in AI innovation, digital transformation, and sustainable economic development.
The UAE and Italy have seen growing trade relations, with non-oil trade surging over the past decade. Italian exports to the UAE reached $7.22 billion in 2023, increasing by 22% in early 2024. UAE exports to Italy totaled $1.57 billion, while more than 600 Italian companies currently operate in the UAE. These MoUs will further enhance economic growth, support technological advancements, and solidify UAE-Italy trade and investment relations for the future.
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