After a video call with Saudi Investment Minister Khalid al-Falih, Orso said in a statement that the kingdom is ready for more investment in Italy.
Orso said the Saudi investment minister “expressed his willingness to facilitate the exchange of visits at the government and business owner level, and underlined that the Saudi sovereign wealth fund is ready to invest more in Italy.” .
The Italian minister said he and Al-Falih were discussing hydrogen energy projects, which Saudi Arabia is already working on intensively, and suggested “greater cooperation” between the two countries in Africa.
The statement added that a delegation of Saudi companies led by Al-Faleh is expected to visit Italy next September.
The government of Italian Prime Minister Giorgia Meloni intends to create a fund to invest in “national companies with high potential” through financial instruments or investment funds managed by the bank “Casa Deposit e Priestiti” , according to a bill seen by Reuters.
Officials said the cabinet is expected to approve the plan next week.
According to the bill, the fund will invest in companies operating in “national strategic supply chains” that include energy and the purchase of raw materials.
The bill also says Rome will operate “on market terms” to avoid breaching EU rules restricting state aid rules.
To launch the fund, the Treasury can allocate around 1 billion euros ($1.1 billion) to be disbursed in several tranches.
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