Italy is strengthening one of its most promising strategic relationships for business: the partnership with Saudi Arabia. Within the framework of Vision 2030—the Kingdom’s ambitious economic transformation plan—investment opportunities for foreign companies are multiplying, particularly in key sectors driving industrial diversification.
For Italian companies, this scenario represents a concrete opportunity to access one of the most dynamic and promising markets in the MENA region, supported by an increasingly favorable regulatory environment for foreign investors.
In this context, during Italian Prime Minister Giorgia Meloni’s official visit to Riyadh on January 26, 2025, bilateral agreements were signed for industrial cooperation between Italy and Saudi Arabia, amounting to a total of $10 billion.
These agreements involve strategic sectors such as energy, defense, infrastructure, and technology. Participating Italian companies include Leonardo, Fincantieri, Snam, and Gewiss, which are engaged in projects related to green hydrogen, shipbuilding, and electric mobility.
A central component is the memorandum of understanding between the two countries’ energy ministries, paving the way for the export of green hydrogen and ammonia from Saudi Arabia to Europe. In the defense sector, Italy has expressed openness to Saudi Arabia joining the GCAP (Global Combat Air Programme), a multinational initiative to develop next-generation fighter jets.
The most immediate opportunities for Italian businesses lie in sectors such as renewable energy, infrastructure, construction, smart city technologies, electric vehicles, industrial equipment, aerospace, and technical education. Saudi Arabia is actively seeking technology partners, specialized manufacturers, and sustainable, high-value-added solutions.These agreements represent a real opportunity for Italian companies to gain a foothold in a rapidly expanding market while supporting Saudi Arabia’s strategic goals. This new bilateral alliance is more than just a diplomatic arrangement—it’s a genuine call to action for Italian businesses ready to innovate, internationalize, and embrace the challenges of global economic transformation.
