An Italian business association representing 7,000 companies plans to increase investments in Saudi Arabia and collaborate with local investors as part of Saudi Vision 2030. This group includes major firms from key economic sectors.
The announcement was made at the Saudi-Italian Business Forum, held at the Federation of Saudi Chambers’ headquarters. The event was attended by Italian Ambassador Carlo Balducci, along with over 140 companies and representatives from both governments.
Attilio Fontana, president of the Lombardy Regional Government, emphasized the region’s economic importance with a GDP of over $444 billion. He highlighted Lombardy’s openness to international investors and expressed a commitment to supporting Saudi projects in investment, science, and culture. Fontana also mentioned incentives for Saudi investors.
Eng. Kamel Al-Munajjed, chairman of the Saudi-Italian Business Council, noted the growth in trade between Saudi Arabia and Italy, now valued at SR38 billion. Lombardy significantly contributes through exports such as machinery, chemicals, and automotive products. Al-Munajjed pointed out opportunities in logistics, infrastructure, and digital technologies for Italian investors, particularly in large-scale Saudi projects.
Lombardy, as a financial and industrial hub, hosts the Italian Stock Exchange and attracts global investments in sectors like automobiles, space, life sciences, biotechnology, artificial intelligence, and advanced technology.