An Italian business association representing 7,000 companies plans to expand investments in Saudi Arabia and collaborate with local investors as part of Saudi Vision 2030. This decision was announced during the Saudi-Italian Business Forum held at the Federation of Saudi Chambers.
The event saw the participation of the Italian Ambassador to Saudi Arabia, Carlo Balducci, alongside representatives from over 140 companies and government agencies from both nations.
Attilio Fontana, president of the Lombardy Regional Government, emphasized the economic importance of Lombardy, with a GDP exceeding $444 billion. He highlighted the region’s openness to international investors and expressed a commitment to enhancing Italian contributions to Saudi projects, offering incentives to Saudi investors.
Eng. Kamel Al-Munajjed, chairman of the Saudi-Italian Business Council, noted the significant growth in trade between Saudi Arabia and Italy, now valued at SR38 billion. Lombardy’s exports, including machinery, chemicals, and automotive products, play a crucial role. He identified opportunities for Italian investors in logistics, infrastructure, and digital technologies, as well as construction expertise for Saudi Arabia’s large-scale projects.
Lombardy, known for its financial and industrial prowess, hosts the Italian Stock Exchange and attracts global investments in sectors such as automobiles, space, life sciences, biotechnology, artificial intelligence, and advanced technology.