MILAN: Saudi Arabia businesspeople and government officials began talks here on Monday with their Italy counterparts on enhancing economic, trade and cultural ties.
Kamel Al-Munajjed, the chairman of the Saudi-Italian Business Council, said at an initial meeting that the visit from April 28 to 30, was organized by Saudi Arabia’s Ministry of Investment and other government entities, in partnership with Italian institutions.
Al-Munajjed said this delegation was the largest Saudi Arabia business mission to Italy to date, comprising 100 participants, including over 20 representatives from ministries and government agencies.
The leaders come from various sectors including renewable energy, manufacturing, logistics, tourism, food, agriculture, real estate, healthcare, and technology.
Al-Munajjed said the three business forums to be held would address industrial transformation, sustainable energy, smart cities, innovation, and supply chain dynamics.
There would also be site visits to prominent Italian companies and projects.
The forums commenced with the inaugural meeting of the Saudi-Italian Business Forum in Milan on Monday.
On Tuesday there would be talks held with representatives of the Italian Confederation of Craft Trades and Small- and Medium-Sized Enterprises.
And on Wednesday, discussions will be held with the Federation of Industrialists in Turin.
The Saudi Arabia delegation includes various business leaders, among them Abeer Al-Ghamdi, founder and CEO of Hayyak Arabia Travel and Tourism.
Al-Ghamdi told Arab News: “Today we’re in Italy with the goal of attracting more visitors to the Kingdom of Saudi Arabia, showcasing it as a premier destination.
“Our focus is on managing tourist destinations and providing quality programs that reflect Saudi culture and diversity, creating unforgettable experiences for every visitor.”
Yousef Maimani, a board member of the Saudi-Italian Business Council, told Arab News: “We signed our first cooperation agreement in 1932, and two years ago, we celebrated 90 years of Saudi-Italian relations.
“Our agreements, including those on double taxation and investment protection, play a crucial role in supporting investments. Given Italy’s industrial capacity, we aim to attract investments, especially in the industrial sector.”
Maimani said there are significant opportunities for Italian firms to participate in the projects of the nation’s government and large companies.
He said Saudi Arabia attracted $96 billion in foreign investments recently, underscoring the potential for collaboration between family-owned and medium-sized enterprises in both countries.
Luca Barbi, general partner and chief operating officer of Saudi Technology Ventures, who also participated in the discussions, expressing optimism about the synergy between Saudi Arabia and Italy.
“Both countries share a similar mindset, and Italy’s developed capabilities can significantly benefit Saudi Arabia’s dynamic market, offering vast opportunities across various sectors.”
