Abu Dhabi [UAE], February 25: The Ministry of Investment has signed three Memoranda of Understanding (MoUs) with the Republic of Italy to support mutual investments and strengthen cooperation in pharmaceuticals, minerals, as well as data centres and artificial intelligence (AI). Respectively, these agreements establish a framework for investment collaboration, fostering innovation, knowledge transfer, and the integration of technology and artificial intelligence to drive progress across the life sciences, minerals, and technology value chains in both countries.
The new partnerships will benefit the advancement of bilateral relations between the UAE and Italy, building on the foundation of the 1984 Economic, Industrial, Technological, and Financial Cooperation Agreement and the 1995 Investment Promotion and Protection Agreement between the Government of the United Arab Emirates and the Government of Italy.
The MoUs were officially signed by Mohamed Hassan Alsuwaidi, UAE's Minister of Investment, and Adolfo Urso, Minister of Enterprises and Made in Italy.
Mohamed Hassan Alsuwaidi, UAE Minister of Investment, said: "Our collaboration with Italy underscores the strength of our bilateral relationship and our shared commitment to sustainable economic growth. The three MoUs signed today mark a significant milestone in advancing cooperation across healthcare, energy transition, and digital transformation and reflect the UAE's dedication to fostering impactful, forward-looking partnerships that drive mutual prosperity while addressing global challenges. Building on decades of strong ties between our two nations, we reaffirm our commitment to deepening cooperation in key strategic and innovative sectors. We are confident that they will not only strengthen economic and technological collaboration but also pave the way for long-term benefits for both the UAE and Italy."
Adolfo Urso, Italian Minister of Enterprises and Made in Italy, said: "The signing of these three MoUs marks a significant step forward in the strong and enduring partnership between Italy and the UAE. By fostering collaboration in pharmaceuticals, minerals, and digital infrastructure, we are creating new opportunities, reflecting both our nations' commitment to strengthening international cooperation and leveraging mutual expertise in cutting-edge industries to drive economic progress. We look forward to the tangible benefits these partnerships will bring, not only for Italy and the UAE but also for broader global progress."
The Investment cooperation in the pharmaceutical sector which signed between the UAE Ministry of Investment and the Italian Ministry of Enterprises and Made in Italy, reaffirms both countries' commitment to advancing cooperation in healthcare, biotechnology, and pharmaceuticals. The parties will explore opportunities in technology transfer, vaccine production, and regulatory policy development to support human and animal health. The partnership will also focus on research and development of new treatments, capacity building through specialised training, and the establishment of strategic alliances with leading institutions and pharmaceutical companies.
Key areas of innovation include oncology, cardiovascular and metabolic diseases, immunology, and rare diseases, addressing critical unmet patient needs. Furthermore, the collaboration will extend to the commercialisation of innovative medicines in the UAE and beyond, utilising existing infrastructure and developing new market pathways. Strategic engagements with AI and
technology companies will also be pursued to optimise research and development, automate manufacturing processes, and implement forward-thinking go-to-market models.
The UAE Ministry of Investment, with the Italian Ministry for Enterprises and Made in Italy and the Ministry of Environment and Energy Security, signed a five-year MoU to advance collaboration in sustainable mining practices, mineral exploration, extraction, development, processing, marketing, recycling, and workforce development. As part of the collaboration, the UAE and Italy will explore investment opportunities and economic partnerships, leveraging governmental efforts to connect businesses and promote investments across the mineral value chain. The agreement also emphasises the promotion of responsible and sustainable mineral sector governance, capacity building through specialised training and education, and the establishment of monitoring and evaluation systems to ensure continuous progress.
The UAE Ministry of Investment and the Italian Ministry of Enterprises and Made in Italy have also signed an MoU to strengthen cooperation and reciprocal investments in the digital infrastructure sector, with a particular focus on data centres and AI. The partnership places a special emphasis on advancing the bio-economy and energy transition while fostering technical knowledge exchange, skills development, and expertise sharing. Leveraging the UAE's leadership in technological development, MGX and G42's expertise in AI and digital infrastructure investment and operations, as well as Italy's future AI Factory, both countries
will collaborate to drive investment in the establishment of new data centres, including green data centres with a future capacity target of up to 2 GW. Additionally, both countries will explore the creation of "Virtual Data Embassies" within each other's territory, to ensure digital continuity and enhance secure cross-border data resilience. Leading companies in both countries such as MGX, G42, Khazna, and ENI will play a key role in developing and operating the data centre capacity. Further initiatives include attracting major cloud service providers, expanding cloud services in local and regional markets, and upskilling local talent in AI, high performance computing, and digital education - areas where MGX and G42 are actively investing. The UAE and Italy will also promote knowledge exchange through scholarship programs, expert exchanges, and educational workshops focused on AI and data centre technologies.
In addition to the MoU with Italy, the UAE has also recently announced a partnership with France on AI, with MGX and G42 driving AI infrastructure investments as part of this broader strategic vision, further solidifying the UAE's leadership in the sector. These strategic collaborations underscore the UAE, MGX and G42's commitment to building strong international alliances and advancing AI-driven innovation on a global scale.
The UAE and Italy have cultivated growing political cooperation and a robust economic partnership. Non-oil trade between the two nations has experienced significant growth over the past decade. In 2023, Italian exports to the UAE reached approximately US$ 7.22 billion, surging 22% in early 2024. Conversely, UAE exports to Italy were valued at US$ 1.57 billion in 2023.
Over 600 Italian companies operate in the UAE, reflecting deepening economic ties and commitment to bilateral trade.
As the UAE and Italy continue to deepen their bilateral ties, these agreements will serve as catalysts for further innovation, economic diversification, and global leadership in healthcare, resource development, and digital transformation
Source: Emirates News Agency
