Saudi Arabia, Italy Sign 26 Investment MoUs

The Saudi-Italian high-level roundtable took place in AlUla on Sunday. SPA
The Saudi-Italian high-level roundtable took place in AlUla on Sunday. SPA
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Saudi Arabia, Italy Sign 26 Investment MoUs

The Saudi-Italian high-level roundtable took place in AlUla on Sunday. SPA
The Saudi-Italian high-level roundtable took place in AlUla on Sunday. SPA

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.



Saudi National Products Expo Kicks Off in Kuwait

Al-Qahtani emphasized that Saudi products are distinguished by their quality and success - SPA
Al-Qahtani emphasized that Saudi products are distinguished by their quality and success - SPA
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Saudi National Products Expo Kicks Off in Kuwait

Al-Qahtani emphasized that Saudi products are distinguished by their quality and success - SPA
Al-Qahtani emphasized that Saudi products are distinguished by their quality and success - SPA

Saudi Deputy Ambassador to Kuwait Yahya Al-Qahtani inaugurated the second edition of the Saudi National Products Expo (SNP Expo), marking a significant step in strengthening the national economy and reinforcing Saudi identity.
Al-Qahtani emphasized that Saudi products are distinguished by their quality and success, showcasing the Kingdom's vast potential across various sectors and reflecting the creativity of its people.
He expressed hope that the SNP Expo, which runs until February 1, will create more opportunities for collaboration and partnerships between Saudi and Kuwaiti companies, fostering new avenues to strengthen the strong ties between the two brotherly nations, SPA reported.
Undersecretary of the Kuwaiti Ministry of Commerce and Industry Ziad Al-Najem praised the strong presence of Saudi products in the Kuwaiti market. He noted that these products represent more than just economic goods; they serve as symbols of cooperation and trust between the two nations and have become an essential part of daily life for Kuwaiti consumers.
Attendees toured the expo, where they were briefed on the participating brands and products across various sectors, including industry, food, health, technology, and commerce.