Italy looks to attract additional investments from PIF

May 05, 2023

The Italian government is looking to increase investment in the country from the Public Investment Fund, the sovereign wealth fund of Saudi Arabia. A delegation of Saudi entrepreneurs and investors, led by the President of the Saudi- Italian Business Council Kamel Al- Munajjed, met in Rome on Thursday with the Italian Minister for Economic Development- Adolfo Urso. The meeting discussed strengthening commercial and economic relations between Italy and Saudi Arabia. “Our bilateral economic relationship is experiencing a very positive moment. Now we must work together on a progressive consolidation of this strategic partnership,” Urso said. The minister noted that the PIF is increasing its investments in Italy, particularly in the luxury aspects of the automotive, shipbuilding, and hotel sectors.

Read the original article in Arab News: Italy seeks greater PIF investment