The United Arab Emirates (UAE) is set to invest $40 billion (€38.2 billion) in Italy as the two nations seek to deepen their economic and strategic ties.
The announcement was made by Italian Prime Minister Giorgia Meloni following the first-ever state visit to Italy by UAE President Sheikh Mohamed bin Zayed Al Nahyan.
The investment will span multiple sectors, including energy, artificial intelligence, renewable resources, subsea activities, and rare earth minerals. A significant portion will also be directed toward Italy’s defence and security sector, with plans for joint military production and intelligence-sharing.
Meloni emphasized that this partnership would enhance bilateral relations and support Italy’s Mattei Plan, an initiative aimed at fostering African development to curb migration flows into Italy. The UAE is also partnering with Italy and Albania on an undersea electricity cable project in the Adriatic Sea, first announced in January.
A joint statement from both governments highlighted that over 40 agreements were signed, solidifying cooperation in economy, investment, defence, energy—including peaceful nuclear energy—space, and cultural heritage. The leaders also discussed expanding partnerships in high-tech industries, artificial intelligence, cybersecurity, infrastructure, water technology, and education.
In the defence sector, the UAE and Italy will collaborate on modernizing military equipment, joint production, and research & development. The two nations also plan to work together on counter-terrorism efforts, cybersecurity, and disaster response.
This broad cooperation is expected to drive sustainable development, enhance digital economic growth, and create long-term opportunities for both nations.
