A Memorandum of Understanding was signed in Riyadh to support new partnerships between Italian and Saudi companies through CDP Business Matching and the Federation of Saudi Chambers network
Cassa Depositi e Prestiti (CDP) and the Federation of Saudi Chambers (FSC) have signed a Memorandum of Understanding aimed at strengthening cooperation between their respective business communities. The agreement seeks to facilitate Italian companies’ access to opportunities offered by the Saudi market and to support Saudi companies interested in developing partnerships and business opportunities in Italy.
The signing took place in Riyadh during a business roundtable chaired by H.E. Emad Al Fakhari, Vice President of the Federation of Saudi Chambers, in the presence of members of the Saudi-Italian Business Council, representatives of the Saudi business community, and officials from institutions and the financial sector.
The collaboration will focus on three main areas of activity. First, the two organisations intend to use the CDP Business Matching platform and the Federation of Saudi Chambers network to connect Italian and Saudi companies, identify potential business partners and support the organisation of business meetings, including for small and medium-sized enterprises.
CDP and FSC will also promote the exchange of information and the dissemination of opportunities available in their respective markets. This includes support for Italian companies interested in Saudi Arabia’s development programmes, including Expo 2030 Riyadh, as well as for Saudi companies and investors seeking business and investment opportunities in Italy.
Finally, CDP and FSC will identify dedicated points of contact to coordinate business requests and follow-up activities. In this context, the Saudi-Italian Business Council will help engage Saudi companies and develop opportunities of mutual interest together with CDP and its Italian partners. SIMEST’s presence in Riyadh may also further strengthen this commitment by supporting Italian companies interested in developing business activities in the Saudi market.
Dario Scannapieco, Chief Executive Officer of CDP, said: “The agreement with the Federation of Saudi Chambers represents a concrete step towards strengthening economic relations between Italy and Saudi Arabia. Through the CDP Business Matching platform, we will foster new partnerships between companies from the two countries, supporting Italian businesses in seizing the opportunities offered by the Kingdom’s main development programmes, starting with Expo 2030 Riyadh. This cooperation aims to generate new growth and investment opportunities, with a particular focus on small and medium-sized enterprises.”
H.E. Emad Al Fakhari, Vice President of the Federation of Saudi Chambers, said: “Saudi and Italian companies have significant opportunities to expand their cooperation and build mutually beneficial partnerships in both markets. Through the Federation of Saudi Chambers and the Saudi-Italian Business Council, we are ready to work with CDP to connect companies, facilitate access to opportunities and support the development of promising partnerships between the two countries.