UAE, Italy sign 3 investment MoUs in pharma, minerals and AI sectors
The partnership agreements provide frameworks for investment in the life sciences value chain, resource development and digital infrastructure
The UAE and Italy have signed three memoranda of understanding (MoUs) to enhance cooperation in pharmaceuticals, minerals, and digital infrastructure, including data centres and artificial intelligence (AI).
The agreements aim to foster investment, innovation, and knowledge exchange in these key sectors, building on decades of strong bilateral ties.
The MoUs were signed by Mohamed Hassan Alsuwaidi, UAE Minister of Investment, and Adolfo Urso, Italian Minister of Enterprises and Made in Italy.
Alsuwaidi 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.”
Urso added: “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.”
UAE-Italy MoUs to advance different sectors
The partnerships will focus on advancing healthcare, sustainable mineral development, and digital infrastructure, with a special emphasis on AI and green data centres.
In the pharmaceutical sector, the UAE and Italy will collaborate on technology transfer, vaccine production, and R&D for new treatments.
The minerals agreement targets sustainable practices in mining, mineral processing, and recycling.
Meanwhile, the digital infrastructure MoU will drive investment in AI and data centres, with a focus on green initiatives and secure cross-border data resilience.
These agreements reflect the growing economic ties between the two nations, with non-oil trade surpassing $8.79bn in 2023.
The UAE and Italy aim to leverage these partnerships for long-term economic growth and technological advancement, further solidifying their global leadership in key industries.
Read: Italy’s Eni, UAE’s ADQ to strengthen supply chains for critical minerals
