Signing of 3 MoUs between the UAE and Italy to support joint investments

Follow-up Alkhaleej Daily News website management

His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, and Giorgia Meloni, Prime Minister of the Republic, witnessed, on Monday, part of the activities of the "Emirati-Italian Forum", as part of an official visit by His Highness to the Italian Republic.

Prime Minister Giorgia Meloni welcomed with great satisfaction the concrete will of the United Arab Emirates to invest $ 40 billion in Italy: This, without fear of denial, is one of the most important and impressive foreign investments in the history of our nation, as well as an exceptional demonstration of trust and friendship towards Italy, its production system and its economy.

The President explained, "We want to focus our work with the United Arab Emirates on issues that will be central in the coming years. From the development of artificial intelligence to data centers, from the underwater field to space research, from renewable energy to rare metals.

His Highness Sheikh Mohammed bin Zayed Al Nahyan and Italian Prime Minister Meloni expressed their “shared commitment to promoting space exploration” and encouraging innovation in advanced technologies. This is what we read in the joint statement of the governments of Italy and the United Arab Emirates published after the meeting between the two leaders at the Chigi Palace. “As both countries are at the forefront of space and scientific research, Italy and the UAE agreed to explore new avenues of cooperation. The two leaders agreed to strengthen cooperation in the fields of science, technology and innovation, praising Italy’s technological progress and the ambitious Emirati initiatives, such as the UAE’s mission to Mars (Hope Probe) and the development of space exploration programmes, including recent cooperation in the UAE’s mission to the asteroid belt, the UAE’s lunar mission and the Rashid rover.

The forum sessions, which were attended by Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, Sheikh Mohammed bin Hamad bin Al Maktoum, Advisor to the President of the State, and a number of members, in addition to members of the President of the UAE arriving in Italy, shed light on energy solutions, infrastructure, knowledge in the field of healthcare, in addition to the interest of the UAE and Italy in smart sectors. Between the businesses of Emiratis and Italians, there is an opportunity to build new investment and trade partnerships.

The UAE, represented by the Ministry of Investment, today signed three memoranda of understanding with the Italian Republic to support joint investments and enhance cooperation in the pharmaceutical and metals sectors, in addition to data centers and artificial intelligence, during the “state visit” of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, “may God protect him,” to the Italian Republic.

These memoranda aim to establish a framework for investment cooperation that stimulates innovation, knowledge exchange, and the integration of technology and artificial intelligence to drive progress in the value chains of life sciences, metals, and technology in both countries.

These new partnerships contribute to strengthening bilateral relations between the UAE and Italy, based on the 1984 Economic, Industrial, Technological and Financial Agreement and the 1995 Investment Promotion and Protection Agreement between the governments of the two countries.

The memoranda of understanding were signed by His Excellency Mohammed bin Hassan Al Suwaidi, Minister of Investment, and His Excellency Adolfo Urso, Minister of Business and Italian Industries.

His Excellency Mohammed bin Hassan Al Suwaidi said: “Our cooperation with Italy reflects the strength of our bilateral relations and our shared commitment to achieving sustainable economic growth. The signing of these MoUs today represents an important step to enhance cooperation in the fields of healthcare and the transition to digital energy, and reflects the UAE’s commitment to establishing influential partnerships that look to the future and enhance shared prosperity while facing global challenges. As our solid relations continue to develop over the decades, we affirm our commitment to expanding the horizons of cooperation in strategic and innovative sectors, and we look forward to the long-term benefits that these MoUs will bring to both countries.

” For his part, His Excellency Adolfo Urso said: “The signing of these MoUs represents a major advance in the strong partnership between Italy and the UAE. By enhancing cooperation in the fields of pharmaceuticals, minerals and digital infrastructure, we are opening up new horizons of opportunity, and reflecting our two countries’ commitment to strengthening international cooperation and leveraging shared expertise in advanced industries to drive economic progress. We are excited to see the practical benefits that these partnerships will bring, not only to Italy and the UAE, but also to the global community as a whole.”

• Memorandum of Understanding confirms the two countries’ commitment to enhance cooperation in the fields of healthcare, biotechnology, and the pharmaceutical industry

The UAE Ministry of Investment and the Italian Ministry of Business and Industries signed a memorandum of understanding confirming the two countries’ commitment to enhance cooperation in the fields of healthcare, biotechnology, and the pharmaceutical industry. The main areas of innovation will include oncology, cardiovascular diseases, metabolic diseases, immune diseases, and rare diseases, with a focus on meeting unmet medical needs, in addition to marketing innovative medicines inside and outside the UAE, leveraging existing infrastructure, and developing new channels to access markets.

• Memorandum of Understanding to enhance cooperation in the field of sustainable mining and mineral exploration

The Ministry of Investment also signed a five-year Memorandum of Understanding with the Ministry of Business and Industries and the Ministry of Environment and Energy Security in Italy to enhance cooperation in the field of sustainable mining, mineral exploration, extraction, development, processing, marketing, recycling, and development of skills working in this sector. Through this cooperation, the UAE and Italy will explore investment opportunities and economic partnerships by leveraging government efforts to connect businesses and encourage investments across the mineral value chain. The memorandum also focuses on enhancing responsible and sustainable governance of the mineral sector, developing capabilities through specialized training and education, and establishing monitoring and evaluation systems to ensure continuous progress.

• MoU to enhance cooperation and mutual investments in the digital infrastructure sector

The Ministry of Investment and the Italian Ministry of Business and Industries also signed a MoU to enhance cooperation and mutual investments in the digital infrastructure sector, with a focus on data centers and artificial intelligence. The partnership focuses on supporting the vital economy and the transformation in the energy sector, in addition to exchanging technical knowledge, developing skills, and enhancing expertise. The two countries will cooperate to attract investments to establish new data centers, including green data centers, with a plan to increase future capacity to 2 gigawatts through the UAE’s leadership in technological development, and the expertise of MGX and G42 in investing in and operating artificial intelligence and digital infrastructure, in addition to the future “AI Factory” in Italy.

The two parties will explore the establishment of “virtual data embassies” on their respective territories to ensure the continuity of digital data and enhance its security across borders.

Leading companies in both countries, such as MGX, G42, Khazna, and Eni, will play a pivotal role in developing and operating data center capacity.

Additional initiatives include attracting major cloud computing providers, expanding cloud services in local and regional markets, and developing local talent in AI, high-performance computing, and digital education, areas in which MGX and G42 are actively investing. In addition, the UAE and Italy will work to enhance knowledge exchange through scholarship programs, expert exchanges, and specialized educational workshops on AI and data center technologies.