United Arab Emirates to invest $40 billion in Italy's strategic sectors

In an ambitious move to strengthen ties with Gulf nations, Italian Prime Minister Giorgia Meloni has announced during a Italy-United Arab Emirates Business Forum in Rome that the United Arab Emirates will invest a remarkable $40 billion in Italy.

The investments, which will focus on cutting-edge sectors like artificial intelligence, data centres, space research, renewable energy, and rare earths, are seen as a significant step forward in the growing partnership between the two nations.

Since taking office in 2022, Meloni has been keen to build deeper economic and strategic relationships with Gulf countries, overlooking past concerns over human rights. Last month, Italy also secured agreements worth approximately $10 billion with Saudi Arabia. For now, it remains to be seen how these investments will reshape Italy's economy in the coming years.