ROME – The United Arab Emirates (UAE) will invest $40 billion in Italy, Prime Minister Giorgia Meloni announced on Monday at the Italy-United Arab Emirates Business Forum in Rome. Although no specific timeline was provided, Meloni hailed the investment as a “historic day” and a significant milestone in the growing relationship between the two nations.
Since taking office in 2022, Meloni has actively pursued closer ties with Gulf countries, setting aside human rights concerns that were a priority for previous Italian administrations. “We chose to focus this partnership on strategic sectors, such as artificial intelligence, data centres, space research, renewable energy, and rare earths,” Meloni said at the forum.
The announcement comes on the heels of Italy securing agreements worth approximately $10 billion with Saudi Arabia last month, further solidifying its economic ties in the Gulf region. The $40 billion investment from the UAE is expected to boost Italy’s technological and energy sectors, positioning both nations as strategic partners in innovation and sustainable development.