The Saudi-Italian high-level roundtable took place in AlUla on Sunday, with the participation of Italian Prime Minister Giorgia Meloni, Saudi Minister of Investment Khalid Al-Falih, CEOs, private sector leaders, and representatives from major companies of both countries.
The meeting highlighted the expanding partnership between the two countries and resulted in the signing of 26 memoranda of understanding across key industries, including construction, renewable energy, cultural exchange, and advanced technologies.
It also explored collaborative prospects in green energy, automotive manufacturing, infrastructure development, tourism, agrifood, solar and wind energy projects, sustainable tourism initiatives, and advanced construction technologies.
Italian businesses highlighted their aim to capitalize on an estimated SAR11.8 trillion in Saudi inward investment over the next six years.
Heritage tourism was also a key focus, with participants highlighting Italy’s expertise and Saudi Arabia’s ambition to become a leading global travel destination. As the Kingdom plans to create 1.6 million tourism jobs by 2030, Saudi-Italian partnerships are poised to drive skills development, promote sustainable tourism, and expand opportunities in the private sector.
In 2023, Saudi exports to Italy reached SAR18.5 billion, driven primarily by mineral fuels and petrochemicals, while imports from Italy totaled SAR22 billion, reflecting strong demand for Italian products such as machinery, pharmaceuticals, and advanced engineering solutions.
In 2024, 63 investment licenses were granted to Italian firms in the Kingdom—an increase of 110% over the previous year—underscoring the rising Italian interest in advanced manufacturing, construction, and renewable energy.
