The United Arab Emirates plans to invest $40 billion in Italy, the two countries said at a bilateral summit in Rome, without providing any time frame.

Prime Minister Giorgia Meloni said the United Arab Emirates will invest $40 billion in Italy after Rome hosted a visit of UAE President Sheikh Mohamed bin Zayed Al Nahyan.

Apart from energy and tech, the UAE is also expected to invest heavily in Italy’s defence and security sector. The deal will involve joint military production and the sharing of information. View on e

The United Arab Emirates plan investments in Italy worth 40 billion dollars, Italian Prime Minister Giorgia Meloni said on Monday, without giving a time frame. Meloni has been trying to pursue stronger ties with Gulf countries since taking office in 2022,