Saudi Arabia announces more investments in Italy

The Minister of Enterprise and Made in Italy (Mimit), Adolfo Urso, held a video-linked conversation with Saudi Arabia’s Minister of Investment Khalid Al-Falih, with a view to strengthening the already solid bilateral economic relations. As reported in a note during the meeting, which followed precise indications from the Saudi King and the Italian Prime Minister, Minister Al-falih said he was willing to encourage a reciprocal exchange of visits, both at the governmental and business levels, and emphasised that the Saudi sovereign wealth fund is ready to invest in Italy even in sectors that have not been involved so far.

Minister Urso announced the forthcoming creation, within the framework law on Made in Italy expected in the Council of Ministers next week, of a sovereign fund capable of supporting the financing of enterprises, hoping for involvement and possible intervention by foreign funds such as the Saudi Arabian sovereign fund.

At the same time, Urso illustrated the actions put in place by Mimit to foster the attraction of foreign capital, with the creation of a help desk set up to facilitate and assist companies wishing to invest in Italy, and indicated the most promising sectors in which to strengthen bilateral industrial and financial cooperation. In addition to the excellence of Made in Italy, from fashion to agri-foods and furniture, Urso also indicated pharmaceuticals, shipbuilding and advanced manufacturing. He also examined possible ways of collaborating on the green and digital transition with Italian companies.