KSA, Italy to Explore Investments in Clean Energy & Manufacturing

Officials with the Kingdom of Saudi Arabia (KSA) government will join their Italian counterparts as well as private sector representatives at a key forum in Milan city, to explore mutually beneficial investment opportunities across clean energy, healthcare, advance manufacturing and hospitality. The Italian - Saudi Investment Forum, which will be held on September 4, is being co-hosted by The Ministry of Investment of Saudi Arabia (MISA). Khalid Al-Falih, Minister of Investment of Saudi Arabia will be leading a delegation of government and business officials top the 49th edition of the Cernobbio Forum, an annual conference organized by The European House - Ambrosetti. The Italian - Saudi Investment Forum will reflect on the successes of the Italian – Saudi partnership thus far and explore mutually beneficial investment opportunities across several key priority sectors including clean energy, healthcare, advanced manufacturing and hospitality. Saudi Arabia has seen strong growth in the non-oil sector, expanding 5.4% last year. The kingdom is looking to unlock more than US$3 trillion in investment opportunities through its National Investment Strategy.

Reflecting the high priority placed on the relationship by both sides, Adolfo Urso, Minister of Enterprise and Made in Italy and Giuseppe Sala, Mayor of Milan will also attend the forum, alongside Al-Falih. At the Cernobbio Forum, MISA will showcase the investment opportunities available in Saudi Arabia as its economy is transformed by a series of initiatives linked to Vision 2030, the Kingdom’s blueprint for social and economic reform. The latest visit comes as Italy and Saudi Arabia marked the 90th anniversary of diplomatic relations last year, with bilateral trade between both nations reaching over US$11 billion in 2022. Subsequent high-level visits have demonstrated enduring joint impetus to develop bilateral partnerships further. The Saudi – Italian Business Council met in May this year, while Riyadh hosted the Saudi – Italian Joint Committee and Saudi-Italian Investment Forum during Former Italian Foreign Minister Luigi Di Maio’s visit in June last year.