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.

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.

The UAE is to invest $40 billion in key sectors of Italy’s economy as the two countries strengthen ties. Italy and the UAE signed 40 new agreements covering sectors including economy and investment, defence,

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. Italian Prime Minister Giorgia Meloni has pursued stronger ties with Gulf countries since taking office in 2022,