Industrial transformation and sustainable energy top agenda as Saudi delegation visits Italy
MILAN: A sizable Saudi delegation is visiting Italy to discuss collaboration in industrial transformation and sustainable energy.
The visit marks the launch of a series of Saudi-Italian business forums aimed at enhancing economic, investment, and trade partnerships between the two nations.
During the delegation's initial meeting, Kamel Al-Munajjed, chairman of the Saudi-Italian Business Council, announced that the visit, which starts on Monday and ends on Wednesday, is organized by the Saudi-Italian Business Council, the Ministry of Investment, and the Saudi embassy in Rome, in partnership with Italian institutions.
Al-Munajjed said that this delegation is the largest Saudi business mission to Italy to date, comprising 100 participants, including more than 20 representatives from ministries and government agencies, alongside executive leaders from the private sector across various fields including renewable energy, advanced manufacturing, logistics, tourism, food, agriculture, real estate, healthcare, and modern technologies.
He noted that the three forums will address contemporary topics in the knowledge economy, such as industrial transformation, sustainable energy, smart cities, innovation, and supply chain dynamics, in addition to bilateral meetings and site visits to prominent Italian companies and projects.
The forums commenced with the inaugural Saudi-Italian Business Forum in Milan on Monday, followed by a joint forum with CNA (the Italian Confederation of Craft Trades and Small- and Medium-Sized Enterprises) on Tuesday, and a third forum with Unione Industriali (Federation of Industrialists) at the Centro Congressi in Turin on Wednesday.
The Saudi delegation includes various business leaders, among them Abeer Al-Ghamdi, Founder and CEO of Hayyak Arabia Travel and Tourism.
'We're in Italy with the goal of attracting more visitors to the Kingdom of Saudi Arabia, showcasing it as a premier destination,' Al-Ghamdi told Arab News.
'Our focus is on managing tourist destinations and providing quality programs that reflect Saudi culture and diversity, creating unforgettable experiences for every visitor,' he added.
Yousef Maimani, a board member of the Saudi-Italian Business Council, emphasized the strategic partnership between Saudi Arabia and Italy.
'We signed our first cooperation agreement in 1932, and two years ago, we celebrated 90 years of Saudi-Italian relations. Our agreements, including those on double taxation and investment protection, play a crucial role in supporting investments. Given Italy's industrial capacity, we aim to attract investments, especially in the industrial sector,' he told Arab News.
Maimani also highlighted the importance of local content policies for government and major projects, noting significant opportunities for Italian firms to contribute to Saudi Arabia's development.
He shared that Saudi Arabia has successfully attracted $96 billion in foreign investments, underscoring the potential for collaboration between family-owned and medium-sized enterprises in both countries.
Luca Barbi, General Partner and Chief Operating Officer of venture capital firm STV, also expressed optimism about the synergy between Saudi Arabia and Italy.
'Both countries share a similar mindset, and Italy's developed capabilities can significantly benefit Saudi Arabia's dynamic market, offering vast opportunities across various sectors," he said.
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