NCW carries out study of marine biodiversity in Red Sea

Turin: The Saudi-Italian Business Forum concluded on Wednesday in Turin, bringing together officials, business leaders and experts from both countries.

Cristina Tumiatti, vice president of Piccola Industria Unione Industriali Torino, opened the third day of the forum with a speech on industrial excellence.

“Saudi Arabia represents a market of extraordinary strategic potential. Its geographic position and dynamic economic environment make it a natural hub for businesses,” she said.

Tumiatti shared her personal expereinces in the Kingdom and praised its rapid transformation: “I have witnessed firsthand the progress and openness that characterize the Saudi business environment.”

She also emphasized Italy’s focus on Middle East partnerships: “Our initiatives promote digital ecological manufacturing and investments aimed specifically at companies entering the Saudi market.”

Waleed Al-Rubaie, general manager of petrochemicals at the Ministry of Investment, addressed global economic challenges and stressed the need for international cooperation.

“We come together at a time where the world is facing many challenges, and we can only overcome these by working together,” he said.

Al-Rubaie reaffirmed Saudi Arabia’s green commitment: “We are dedicated to balancing energy availability with sustainability through our new green initiatives.”

His remarks underscored the energy sector’s shift toward sustainability as key to tackling climate change and ensuring long-term economic resilience.

Fahad Al-Subaie, director of clubs investment at the Ministry of Sports, spoke about the link between sports and economic development.

“We are targeting a 3 percent GDP contribution by 2030, aiming to create around 200,000 jobs,” he said.

He highlighted major investments since 2018, including the Newcastle acquisition and Formula One partnerships.

“These initiatives are not just about sports; they are about creating opportunities and driving economic growth,” he added, noting their impact on tourism and jobs.

Al-Subaie also pointed to Saudi Arabia’s global ambitions: “Our successful hosting of the 2024 World Cup is a testament to our commitment, as we are the first nation to achieve this with the highest attendance in history.”

Marco Osnato, president of the Bilateral Friendship Section UIP Italy-Saudi Arabia, highlighted the strengthening ties between the two countries.

“Under the leadership of Prime Minister Meloni, Italy and Saudi Arabia are becoming strategic partners. This partnership is reflected in our growing economic relations,” he said.

He stressed the role of political dialogue in boosting economic ties: “Frequent visits and agreements between our nations serve to solidify our commitment to mutual growth.”

Osnato added: “Italy is well-positioned to become a key player in the hydrogen supply chain,” pointing to shared goals in energy transition and sustainability.

Kamel Al-Munajjed, chairman of the Saudi-Italian Business Council, reaffirmed Saudi Arabia’s commitment to Italy. “This is the largest Saudi business mission to ever visit Italy, reflecting our serious commitment to collaboration,” he said.

Al-Munajjed led a delegation of nearly 70 Saudi representatives, highlighting the forum’s importance in strengthening business ties.

Sara Al-Faiez, senior manager at the Saudi Investment Promotion Authority, Invest Saudi, presented the Kingdom’s investment landscape: “Our goal is to create an attractive investment environment through policy reforms and partnerships.”

She noted the Kingdom’s strategic location: “Saudi Arabia is a global hub, with 80 percent of the world’s population within a seven-hour flight.”

Al-Faiez highlighted strong investment opportunities, especially in sectors aligned with Vision 2030.

As the forum concluded, both nations reaffirmed their commitment to stronger cooperation, leveraging shared strengths to navigate global challenges.

Discussions and partnerships formed during the forum are expected to deliver mutual benefits as Saudi Arabia and Italy pursue new opportunities in a shifting global economy.

Riyadh: Greece and Saudi Arabia are longstanding strategic partners and will remain so for many years to come, Greek Ambassador Alexis Konstantopoulos said on Tuesday.

Speaking at the National Day reception at the Greek Embassy in Riyadh, Konstantopoulos said many important Greek companies and entrepreneurs contributed to the building of Saudi Arabia since the early 1960s, such as the Latsis Group, Archirodon and others.

He added Greek Prime Minister Kiriakos Mitsotakis visited AlUla last January and was warmly received by Crown Prince Mohammed bin Salman at his private desert camp, marking the first ever official state visit to take place there, a testament to the level of Greek-Saudi bilateral relations and their personal friendship.

Mitsotakis was accompanied by nine ministers and deputy ministers and participated in high-level strategic dialogue, setting solid foundations, a comprehensive framework and concrete action plans in different fields — political, defense, investment and commerce, energy, culture, tourism and sports — which the ambassador called an ambitious, far-reaching and comprehensive program to advance every aspect of the two sides’ bilateral relations for many years to come.

“Having had the privilege to serve in the Kingdom for some years, I can testify to the incredible changes that have taken place in this country — it completely transformed Saudi Arabia, its people and the Kingdom’s regional and global position,” he noted.

“We look forward to enhancing not only our government-to-government relations but also our business-to-business and people-to-people level links. I take this opportunity to welcome here today the CEO of Piraeus Bank, which together with Eurobank and the National Bank of Greece, as well as many other Greek companies, have a strong interest in the Saudi market. Our common ambitions are strong, we are complementary in many fields and our cooperation will add significant added value to our economies,” said Konstantopoulos.

He added: “Tonight we are celebrating the national day of Greece, the beginning of the fight for independence against Ottoman rule, which falls on March 25 and was accordingly postponed since it was Ramadan. Together, tonight, we celebrate our two countries, our great history, our common friendship, and our mutual respect.

“Our Greek community is warmly welcomed here, adding significant added value to the Saudi public and private sector, a fine example of Greek know-how and expertise. We are looking forward to welcoming more Greek tourists in the diverse and beautiful natural environment of Saudi Arabia and to welcoming more visitors from Saudi Arabia in our home country Greece.

“Aegean has more than seven-weekly flights from Riyadh and Jeddah to Greece and Saudia will start this summer to operate flights to Greece, almost on a daily basis,” said the ambassador.

“This is the celebration of a true friendship between two peoples with an ancient heritage, a booming present and a brilliant future,” he added.

Konstantopoulos thanked Prince Mohammed bin Abdulrahman bin Abdulaziz, deputy governor of Riyadh region, for honoring the reception with his presence.