AlUla 2025: Italy and Saudi Arabia Sign 26 Strategic MoUs

AlUla 2025: Strengthening Italy-Saudi Strategic Partnerships

During a high-level roundtable in AlUla, Italy and Saudi Arabia signed 26 memoranda of understanding (MoUs) to expand collaboration across construction, renewable energy, cultural exchange, and advanced technologies.

The event featured Italian Prime Minister Giorgia Meloni, Saudi Minister of Investment Khalid Al-Falih, CEOs, private sector leaders, and representatives from major companies in both countries.

Investment Opportunities and Key Sectors

Italian businesses aim to leverage SR11.8 trillion in Saudi inward investment expected over the next six years. Key collaboration areas include:

Green energy: solar and wind projects, sustainability initiatives.

Advanced manufacturing and construction technologies.

Automotive and advanced engineering.

Tourism and heritage tourism: skills development and creation of 1.6 million jobs by 2030.

Agri-food and cultural innovation.

Growing Bilateral Trade

Saudi exports to Italy: SR18.5 billion (mainly fuels and petrochemicals).

Italian imports to Saudi Arabia: SR22 billion (machinery, pharmaceuticals, advanced engineering solutions).

Italian investment licenses in Saudi Arabia 2024: 63 (+110% year-on-year), reflecting strong interest in advanced manufacturing, construction, and renewable energy.

Hegra UNESCO Visit

On the second day, PM Meloni visited the Hegra archaeological site, Saudi Arabia’s first UNESCO World Heritage site, accompanied by Prince Salman bin Sultan, Minister of Commerce Majed Al-Qasabi, Acting CEO of the Royal Commission for AlUla Abeer AlAkel, and officials from both countries.

The visit included Qasr Al-Farid and other historic landmarks, highlighting shared commitment to sustainable tourism and cultural exchange.