Search Site

Amazon to invest $17bn in Spain  

The investment will be made in data centers in Aragon region.

Microsoft unveils ‘AI-ready’ PCs

The company's pivot to AI has been celebrated by Wall Street.

TAQA Q1 net income $571m

Net income fell $2.58bn due to one-off items recognized in 2023.

QatarEnergy buys stake in Egypt blocks

It did not disclose the cost of the agreement.

TSMC’s April revenue up 60%

It capitalized on huge wave of demand for chips used in AI hardware.

Saudi Arabia looks to widen trade and investment ties with Italy

  • The Saudi delegation held meetings with Italian officials and government and private agencies to discuss ways to boost the volume of trade and investment
  • The visiting investors took part in the Saudi-Italian Business Forum in Milan, attended by 300 business owners and representatives of government agencies

Riyadh, Saudi Arabia–Saudi Arabia is keen to deepen trade and economic ties with Italy from the current volume of trade estimated to be around US$8 billion.

In this connection, the members of the Saudi business sector delegation, represented by the Saudi-Italian Business Council, concluded their visit to Italy, during which they discussed with Italian officials and government and private agencies ways to increase the volume of trade and investment exchange between the two countries.

The volume of trade exchange between the kingdom and Italy is estimated at $8 billion, while about 160 Italian companies are working on many mega-projects in the kingdom.

In the capital, Rome, the delegation met with Italian Parliament members to review economic developments and the business environment in Saudi Arabia, as well as the projects of the Saudi Vision 2030.

The delegation also organized, in cooperation with the Italian Business Federation, the Saudi-Italian Business Forum and Joint Business Council, with the participation of representatives from the Public Investment Fund, the Ministries of Industry and Investment, the Quality of Life Program, and several business owners from both sides.

They discussed the need to launch a joint Saudi-Italian industrial policy and enable Italian companies to enter the Saudi market.

The delegation also met with the Minister of Enterprise and Made in Italy, Adolfo Urso, to discuss increasing Saudi investments in Italy and enhancing cooperation in the field of Italian exports and products.

In addition, the delegation organized a seminar on the economic environment in Italy in cooperation with the European House-Ambrosetti, with the participation of several government and private agencies.

Members of the delegation participated in the Saudi-Italian Business Forum in the Italian city of Milan, attended by 300 business owners and representatives of government agencies from both countries, in addition to holding specialized workshops in the fields of renewable energy, logistics, industry, tourism, real estate, infrastructure, contracting, and healthcare.