The UAE Ministry of Investment has formalized three Memoranda of Understanding (MoUs) with the Republic of Italy to enhance mutual investments and reinforce cooperation in the fields of pharmaceuticals, minerals, as well as data centers and artificial intelligence (AI). These agreements, WAM reported, create a structured framework for investment collaboration, promoting innovation, knowledge exchange, and the integration of technology and artificial intelligence to propel progress across the life sciences, minerals, and technology value chains in both nations.
Strengthening bilateral relations
These new partnerships are poised to enhance the advancement of bilateral relations between the UAE and Italy, building on the groundwork laid by the 1984 Economic, Industrial, Technological, and Financial Cooperation Agreement and the 1995 Investment Promotion and Protection Agreement between the Government of the UAE and Italy.
The MoUs were officially executed by Mohamed Hassan Alsuwaidi, UAE’s Minister of Investment, and Adolfo Urso, minister of Enterprises and Made in Italy.
Commitment to sustainable economic growth
Mohamed Hassan Alsuwaidi, UAE minister of Investment, stated: “Our collaboration with Italy underscores the strength of our bilateral relationship and our shared commitment to sustainable economic growth. The three MoUs signed 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.”
Read more: UAE to invest $40 billion in Italy across key sectors, over 40 new agreements signed
Enhancing international cooperation
Adolfo Urso, Italian minister of Enterprises and Made in Italy, remarked: “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.”
Advancing cooperation in pharmaceuticals
The investment cooperation in the pharmaceutical sector, signed between the UAE Ministry of Investment and the Italian Ministry of Enterprises and Made in Italy, reiterates both countries’ commitment to advancing collaboration in healthcare, biotechnology, and pharmaceuticals. The parties will investigate opportunities in technology transfer, vaccine production, and regulatory policy development to bolster human and animal health. The partnership will also concentrate on research and development of new treatments, capacity building through specialized training, and forming strategic alliances with leading institutions and pharmaceutical companies.
Key areas of innovation
Key areas of innovation encompass oncology, cardiovascular and metabolic diseases, immunology, and rare diseases, addressing critical unmet patient needs. Furthermore, the collaboration will extend to the commercialization of innovative medicines in the UAE and beyond, leveraging existing infrastructure and developing new market pathways. Strategic engagements with AI and technology companies will also be pursued to optimize research and development, automate manufacturing processes, and implement forward-thinking go-to-market models.
Sustainable mining practices
The UAE Ministry of Investment, along with the Italian Ministry for Enterprises and Made in Italy and the Ministry of Environment and Energy Security, signed a five-year MoU aimed at advancing collaboration in sustainable mining practices, mineral exploration, extraction, development, processing, marketing, recycling, and workforce development. As part of this collaboration, the UAE and Italy will explore investment opportunities and economic partnerships, utilizing governmental efforts to connect businesses and promote investments across the mineral value chain. The agreement also underscores the promotion of responsible and sustainable mineral sector governance, capacity building through specialized training and education, and the establishment of monitoring and evaluation systems to ensure continuous progress.
Strengthening digital infrastructure cooperation
The UAE Ministry of Investment and the Italian Ministry of Enterprises and Made in Italy have also signed an MoU to enhance cooperation and reciprocal investments in the digital infrastructure sector, with a particular focus on data centers and AI. This 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 centers, including green data centers with a future capacity target of up to 2 GW.
Additionally, both nations 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 pivotal role in developing and operating the data center 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 center technologies.
Expanding global alliances
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.
Growing economic partnership
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 $ 7.22 billion, surging 22 percent in early 2024. Conversely, UAE exports to Italy were valued at $ 1.57 billion in 2023.
Over 600 Italian companies operate in the UAE, reflecting deepening economic ties and a 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.
