Strategic Partnership: PIF and SACE Collaborate to Boost Italian Business in Saudi Arabia.

The Public Investment Fund (PIF) of Saudi Arabia and Italy’s SACE have signed a Memorandum of Understanding (MoU) to provide financing support of up to $3 billion.

This strategic collaboration aims to facilitate Italian companies’ participation in projects aligned with Saudi Vision 2030, enhancing bilateral economic relations. The MoU focuses on providing financing support for cooperation between Italian companies in the private sector and PIF and its portfolio companies. This initiative represents a continuation of PIF’s strategy to build and maintain strong relationships with leading international financial institutions and further diversifies its range of financing instruments.

As Saudi Arabia continues to transform its economy under Vision 2030, Italian businesses are well-positioned to contribute to and benefit from the Kingdom's ambitious projects. This partnership not only opens doors for Italian companies to expand their operations but also fosters knowledge exchange and technological advancements between the two nations. The collaboration underscores the commitment of both countries to fostering economic growth and innovation, paving the way for a prosperous future.