Latest news with #UAE-ItalyBusinessForum
Zawya
28-02-2025
- Business
- Zawya
UAE, Italy: Promising partnerships for sustainable, prosperous future
ROME - Economic relations between the UAE and Italy continue on an upward trajectory towards sustainable growth and development, driven by the direct support of both countries' leaderships and a series of promising investment and development projects in strategic and innovative sectors. The state visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan to the Italian Republic earlier this week has opened new avenues for cooperation between the two nations through the launch of a series of joint investment projects with the participation of business communities from both countries. These initiatives are expected to accelerate sustainable development, create job opportunities, and drive economic and social growth, contributing to further progress and prosperity. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, affirmed that UAE-Italy relations are experiencing one of their most prosperous periods, reflecting the shared commitment of both countries' leaderships to elevate their ties to new levels of a long-term strategic partnership aimed at achieving mutual economic growth. In a statement to the Emirates News Agency (WAM), Al Zeyoudi noted that this mutual commitment to strengthening strategic relations, particularly in trade and investment, was clearly demonstrated during the official visit of President His Highness Sheikh Mohamed bin Zayed Al Nahyan. The visit included meetings, discussions, and the signing of agreements and memoranda of understanding (MoUs) across various fields, including industry, advanced technology, artificial intelligence, energy, healthcare, culture, education, scientific research, defence, transport, space, mining, and economic partnerships with African nations. These agreements pave the way for broader strategic collaboration between the two countries. Al Zeyoudi added that these new agreements were complemented by the exploration of numerous trade and investment opportunities between the business communities of both countries during the UAE-Italy Business Forum, held in conjunction with the visit. The forum, attended by business leaders from both sides, witnessed the signing of several agreements and MoUs between Emirati and Italian companies, focusing on future economic sectors. He highlighted that Italy is the UAE's top trade partner within the European Union, with non-oil trade between the two countries reaching US$14.1 billion in 2024, marking a 21 percent increase compared to 2023. He further stated that the remarkable growth of over 50 percent in non-oil trade over the past five years underscores the promising potential for further expansion in bilateral trade. Expressing optimism about the long-term outcomes of President His Highness Sheikh Mohamed bin Zayed Al Nahyan's visit to Italy, Al Zeyoudi emphasised that it marks the beginning of a new era in the strategic relations between the two nations, built on achieving mutual benefits. The visit saw the signing of several cooperation agreements across various sectors, reflecting the UAE's commitment to forging impactful partnerships that anticipate future trends and foster shared prosperity, further strengthening the longstanding ties between the two nations. The UAE Ministry of Investment signed three MoUs with Italy to support joint investments and enhance cooperation in the pharmaceutical, minerals, data centres, and artificial intelligence (AI) sectors. These agreements aim to establish a framework for investment collaboration that promotes innovation, knowledge exchange, and the integration of technology and AI, advancing progress in value chains related to life sciences, metals, and technology in both countries. Additionally, Abu Dhabi Future Energy Company (Masdar), TAQA Transmission and Italy's Eni S.p.A. signed a framework agreement to advance their recently established trilateral strategic partnership with Albania. This partnership focuses on clean energy projects, including renewable energy and energy infrastructure, to enhance energy security, support sustainable development, and accelerate transformation in the energy sector across the Mediterranean region. EDGE Group strengthened its collaboration with ELT Group by signing a Letter of Intent during the Italy-UAE Entrepreneurial Forum. This move reflects the shared commitment of both parties to advancing technological innovation in the defence sector. The agreement underscores their joint efforts to harness advanced defence and technology solutions to address global security challenges. Furthermore, the Abu Dhabi Investment Office (ADIO) signed a strategic partnership agreement with Cassa Depositi e Prestiti (CDP), the National Promotional Institution (NPI) and International Development Cooperation organisation of Italy, to facilitate and enhance Italian investments in Abu Dhabi while enabling Emirati companies to capitalise on business opportunities in Italy. ADIO also signed an agreement with Italian telecommunications group TIM to support the company's plans to establish a regional headquarters in Abu Dhabi. The agreement aligns with TIM's strategy to expand its international presence and contributes to ADIO's efforts to position Abu Dhabi as a leading global hub for advanced digital communications and future technologies. These new partnerships further strengthen UAE-Italy relations, building on the Economic, Industrial, Technological, and Financial Cooperation Agreement of 1984 and the Investment Promotion and Protection Agreement of 1995 between the two governments. Through these collaborations, the UAE and Italy will explore investment opportunities and economic partnerships by leveraging governmental efforts to connect businesses and promote investment across various value chains. WAM/KN
Zawya
25-02-2025
- Business
- Zawya
SRTI Park and Italian institutions sign pact to attract investments and enhance global partnerships in research and innovation
Al Mahmoudi: Italian institutions pledge to implement joint research and development programs, and attract startups, small and medium-sized enterprises Rome: As part of the "State Visit" by His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates, to the Italian Republic, and within the activities of the "UAE-Italy Business Forum," which was attended by His Highness and Her Excellency Giorgia Meloni, Prime Minister of Italy, SRTI Park signed memorandums of understanding with three influential Italian institutions. The aim of this collaboration is to attract a large number of Italian startups and small and medium-sized enterprises over the next three years, and to enhance joint investments in various technical and innovative sectors. The MOUs were signed between Sharjah Research, Technology, and Innovation Park and Kilometro Rosso, a leading scientific and technological hub in Europe, Italiacamp, an organization focused on creating new economic and social value for Italy, as well as Andersen Italy, the Italian branch of Andersen Global, an international association of tax, legal, and financial firms. According to the terms of the agreements, around 100 Italian companies will set up operations at SRTI Park by 2028. The target companies will be innovative tech startups, SMEs and small corporate in diverse sectors, including medical devices, AI-assisted diagnostic, robotics, autonomous driving, space, water treatment & desalination, new materials, architecture & interior design. Hussain Al Mahmoudi, CEO of SRTIP, commented: ' These agreements with leading Italian institutions represent a pivotal moment for SRTI Park, as we continue to expand our footprint across Europe. Italy boasts a vibrant startup ecosystem backed by strong venture capitalists, engaged in fields that form the core of our activities at this science park. We are delighted to throw open our doors to Italy's amazing tech companies to launch operations in SRTI Park, which will give them access to the growing Middle East market. Our ecosystem offers attractive facilities and incentives for innovation-driven ventures.' A key pillar of each agreement is represented by the collaboration in R&D activities through American University of Sharjah and University of Sharjah and explore business opportunities with SRTI Park's industry and government partners. ' This agreement marks a significant milestone in fostering synergy between Italian tech startups, technology organizations, and SRTIP. The four organizations are committed in leveraging cutting-edge innovation, research, and deep-tech collaboration, to create long-lasting impact in Italy and the UAE" commented Nicola Bettio, Director of Innovation and Research Ecosystem at SRTIP. Frontline Organisations Kilometro Rosso, one of the leading European science parks, organized around 8 technology clusters and 33 laboratories, with a legacy of more than 900 patents filed, 2,000 publications and EUR 750m worth R&D projects, supported by EUR 180m of acquired funding. The MoU was signed by Salvatore Majorana, CEO, Kilometro Rosso. The agreement envisages collaboration around 10 research projects by 2028 and nurturing around 20 startups in the following areas: Advanced prototyping, Mechatronics and robotics, New materials and Health sciences. ' Developing collaboration across borders is the very essence of Science Parks and we are very proud to reinforce our exchanges with Sharjah Research, Technology and Innovation Park through this agreement. Many of the technologies and startups we support will be able to benefit from an extended platform to test their products and explore new markets in the UAE. I'm grateful to IASP, the International Association of Science Parks, which gave us the opportunity to meet and strengthen our relationship with SRTIP. We look forward to a successful experience ', remarked Salvatore Majorana, Director of Kilometro Rosso. Italiacamp is an organization dedicated to promoting projects with a high social and economic impact for Italy by leveraging organizational, relational skills. Over time, its mission has evolved to focus on supporting the international growth of Italian companies in key markets for Made in Italy. To pursue this goal, Italiacamp EMEA was established to assist Italian companies in their international expansion and to menage the Dubai Hub for Made in Italy, a 2,000 sqm space in the Convention Tower within the Free Zone of the Dubai World Trade Centre, which hosts more than 150 startups and SMEs. In recognition of its strategic role, SIMEST (Gruppo CDP) has invested in Italiacamp EMEA in 2024, joining its corporate structure to further strengthen its mission of fostering the global presence of Italian enterprises Through this agreement, the company aims to attract to Sharjah more than 50 mature tech startups and SMEs by 2028 in the following sectors: Healthcare (medical devices, AI-assisted diagnostic), Advanced Manufacturing (additive manufacturing, automation & robotics), Mobility (smart cities, EV, autonomous driving), Sustainability (waste management, water treatment & desalination) and Creative Industries (architecture, interior design, fashion). At the signing ceremony, Italiacamp was represented by Fabrizio Sammarco, CEO of Italiacamp srl and Leo Cisotta, General Manager of Italiacamp EMEA. Fabrizio Sammarco, CEO of Italiacamp added: " With this partnership, we strengthen our commitment to creating tangible opportunities for Italian businesses, fostering their international growth, and generating a positive impact for the country. Italiacamp was founded to connect innovation, institutions, and enterprises, and today we want to turn this vision into real value for Italy by bringing the talent and excellence of our ecosystem to new markets." Leo Cisotta, General Manager of Italiacamp EMEA: " The agreement marks a crucial step in Italiacamp EMEA's mission to support the internationalisation of Italian startups and SMEs. By fostering collaboration between innovative ecosystems in Italy and the UAE, we aim to create a bridge for cutting-edge technologies, research, and business opportunities. This partnership reinforces our commitment to enabling companies to scale globally and positioning Italian excellence at the heart of international innovation." Andersen Italia, the Italian member firm of Andersen Global, an international association of tax, legal and corporate finance firms, has pledged to bring 30 SMEs to Sharjah by 2027, in the following sectors: Waste management, Food security, Space, Robotics and automation, Traffic management, Logistics, AI diagnostic, Patient journey and Mental health. The MoU was signed by Andrea De Vecchi, CEO, Andersen Italia. ' Italian inventiveness is well renowned – Andrea De Vecchi said – and our startups need to find the perfect environment to develop, prosper, and differentiate themselves. In a dynamic global economy, I believe that the partnership between Italian businesses and the United Arab Emirates is a positive example of innovation and expansion. Since the two nations engage in a substantial amount of bilateral trade, the cooperation with SRTI Park aims to develop economic links, build support networks, and increase access to funding while also encouraging the entrepreneurial spirit of our country '. Bilateral Economic Ties The proposed collaborations with SRTI Park are in tune with the rapidly expanding trade ties between Italy and the UAE. In 2024, the bilateral trade volume crossed 4.8 billion euros in the first six months, registering a 26% growth compared to the corresponding period in 2023. Italy her emerged as one of the biggest players in the world in terms of innovation and tech startups. The country's startup ecosystem has seen remarkable growth over the past decade, with over 14,000 active startups as of 2023. These companies are contributing significantly to economic growth and employment. In terms of funding, Italian startups raised €2.1 billion in 2023 alone. The public sector has been actively supporting innovation through initiatives led by entities such the Cassa Depositi e Prestiti, which has sponsored in the last few years a large number of venture capital and private equity funds to indirectly support more than 40,000 innovative startups and SMEs.
Trade Arabia
25-02-2025
- Business
- Trade Arabia
Metito in deal with Italian groups to boost MEA water infrastructure
Metito Utilities, a global investor, developer and operator of sustainable water management solutions and climate-resilient water assets, said it has signed three landmark MoUs with leading Italian institutions this week. These are Italy's national promotional institution and development bank, Cassa Depositi e Prestiti (CDP), Sace – Italy's Export Credit Agency and insurance–financial group, and Acea, a major industrial group in the water sector and a leader in environmental and energy services. The agreements, formalised during the UAE-Italy Business Forum in Rome and signed in the presence of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates, and Italian Prime Minister, Giorgia Meloni. These strategic partnerships set the stage for transformative water infrastructure developments that will enhance water security and improve millions of lives across Africa, the UAE, and other regions where water infrastructure is critically needed, said Metito Utilities in a statement. These collaborations usher in a new era of Italy-UAE cooperation in sustainable water infrastructure, fully aligned with Italy's ambitious Mattei Plan and the United Nations' Sustainable Development Goals for clean water and sustainable communities. By leveraging the combined expertise and resources of CDP, Sace and Acea, Metito Utilities is set to accelerate the deployment of sustainable water solutions across key markets, it stated. Rami Ghandour, CEO of Metito Utilities, said: "As countries work to achieve water security for their growing communities, these partnerships create unprecedented opportunities to accelerate sustainable solutions. By combining Metito Utilities extensive experience with Italian expertise and financial capabilities, we are creating a powerful framework to address critical infrastructure needs and enhance water security across multiple markets." "Building on our commitment to Africa initiated with Africa Water Infrastructure Development (AWID) launched with British International Investment, these collaborations further underscore our dedication to developing sustainable water infrastructure across the continent," he stated. The collaboration with CDP opens vital funding channels for water infrastructure, with a particular focus on Africa's Official Development Assistance (ODA)-eligible nations. By aligning with Italy's development goals, this initiative creates opportunities for Italian businesses while addressing critical infrastructure needs in developing markets. The strategic co-operation with Sace will bring innovative financial solutions and insurance mechanisms to accelerate project development throughout Africa, the UAE, and other high-need regions, strengthening the ties between Italian industry and emerging markets, fostering both economic growth and sustainable development in the water sector. Working with Acea, a leader in water and energy services, Metito Utilities will spearhead innovative solutions for sustainable water management across Africa and the Middle East.
Emirates 24/7
25-02-2025
- Business
- Emirates 24/7
UAE President, Italian Prime Minister attend UAE-Italy Business Forum
President His Highness Sheikh Mohamed bin Zayed Al Nahyan and Her Excellency Giorgia Meloni, Prime Minister of the Italian Republic, today attended the UAE-Italy Business Forum as part of His Highness' state visit to Italy. The forum's sessions highlighted diverse areas such as energy solutions, infrastructure development, and innovations in healthcare. It also addressed shared UAE-Italy interests in the fields of information and communications technology, digital transformation, space, joint investment opportunities in Africa, climate action, resource management, and sustainable economic growth. The forum included dialogue sessions and meetings between Emirati and Italian business leaders to explore ways to develop new investment and trade partnerships. The forum is periodically held with the participation of business representatives from the UAE and Italy to discuss opportunities to strengthen economic cooperation between the two countries, especially in priority areas. The forum also offers a platform to conclude agreements between the business communities of the UAE and Italy in efforts to further enhance the bilateral economic and trade partnership. During the forum, numerous memoranda of understanding and agreements were signed by Emirati and Italian companies in various fields, including technology, digital transformation, and investment. The forum was attended by H.H. Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs; Sheikh Mohammed bin Hamad bin Tahnoon Al Nahyan, Advisor to the UAE President; and several officials accompanying the UAE President during his visit to Italy. Follow Emirates 24|7 on Google News.
Dubai Eye
25-02-2025
- Business
- Dubai Eye
UAE President concludes state visit to Italy
The UAE's President His Highness Sheikh Mohamed bin Zayed Al Nahyan has departed Rome after concluding a state visit to Italy. During this trip, Sheikh Mohamed held talks with Italian President Sergio Mattarella and Prime Minister Giorgia Meloni, attended the UAE-Italy Business Forum, and witnessed the exchange of bilateral agreements in key sectors. In a joint statement, the UAE and Italy have expressed a shared commitment to strengthening their alliance, with the goal of advancing towards a Comprehensive Strategic Partnership. In this context, the UAE announced plans to invest $40 billion in Italy, spanning major sectors. The focus areas for strategic cooperation include economy, investment, defence, energy, space and cultural heritage. Other sectors of mutual interest include connectivity, infrastructure, high-tech industry, artificial intelligence, water technology, ICT, SMEs, agriculture, civil aviation, education and healthcare. This latest visit marks a new chapter in UAE-Italy relations, one that looks set to elevate bilateral ties and promote shared prosperity, peace and innovation.
