Unlocking Export Opportunities in Saudi Arabia: A Strategic Guide for Italian Companies

Summary 

L'export to Saudi Arabia now represents one of the most promising frontiers for Italian companies, thanks to the epochal transformation driven by the Vision 2030 programme. With $10 billion worth of bilateral agreements signed in January 2025 and Italian exports growing by +27% in 2024, the market  Saudi Arabia is emerging as a strategic hub for the internationalisation of Made in Italy. Infrastructure mega-projects such as NEOM, booming renewable, manufacturing 4.0, HORECA and luxury sectors, combined with a favourable tax framework, create unprecedented opportunities. However, success requires a focused strategy, understanding of the local context and strategic partnerships to effectively navigate this rapidly changing market. 

L'export to Saudi Arabia is emerging not only as an opportunity linked to a global energy power, but also as one of the most dynamic and strategic frontiers for the internationalisation of Italian companies. The country is undergoing an unprecedented socio-economic transformation, catalysed by the ambitious "Vision 2030″. This strategic plan, launched in 2016 under the leadership of Crown Prince Mohammed bin Salman, aims to radically redefine the fundamentals of the Saudi economy, reducing the historical dependence on hydrocarbon rents to build a diversified development model based on knowledge, innovation and private investment. 

In this context of profound renewal, bilateral relations between Italy and Saudi Arabia have reached an unprecedented level of maturity and cooperation. This bond, founded on solid political, economic and cultural foundations, has resulted in a strategic partnership that goes beyond mere commercial logic. Italian companies, with their unrivalled manufacturing know-how, technological excellence and globally recognised creativity, are ideally positioned to become protagonists of this epochal transitiontransforming the potential of exporting to Saudi Arabia into a strategic growth lever. This article analyses in detail the framework of opportunities, the regulatory environment and operational strategies for Italian companies wishing to take advantage of the challenges and immense potential of this booming market. 

Export to Saudi Arabia acquires new strategic dimensions 

The growing convergence of interests between Rome and Riyadh has been enshrined in a series of institutional meetings and high-profile agreements. A key moment was the Italy-Saudi Arabia Investment Forumheld in Milan in September 2023. The event, which was attended by over a thousand companies and included speeches by the Minister of Enterprise and Made in Italy, Adolfo Urso, and the Saudi Minister of Investment, Khalid Al-Falih, highlighted the joint desire to take cooperation to the next level by exploring synergies in innovative sectors such as renewable energy, digital, aerospace and pharmaceuticals. 

This trajectory peaked on 26 January 2025, with the visit of Prime Minister Giorgia Meloni to Al'Ula. On this occasion, a declaration of partnership was signed, unlocking trade and industrial agreements with a total value of some USD 10 billion. "This figure gives an idea of the extraordinary leap we are committed to taking together," said the PM, emphasising that these agreements constitute "platforms on which we can build further opportunities together". This agreement does not represent a point of arrival, but a solid basis for a future of integrated collaboration, in which Italian expertise can directly support the goals of Vision 2030. 

Vision 2030: the architecture of a new future 

To fully understand the scope of the opportunities, it is essential to analyse the architecture of Vision 2030. It is not a simple business plan, but a holistic project that rests on three pillars: 

1. A dynamic society: promote a healthy lifestyle, preserve the cultural and Islamic heritage and develop the entertainment and tourism sector. 
2. A thriving economy: diversifying sources of income, stimulating private and foreign investment, developing small and medium-sized enterprises and creating skilled jobs for young Saudis. 
3. An ambitious nationincrease the efficiency of public administration, promote transparency and accountability and position the Kingdom as a global logistics hub connecting Asia, Europe and Africa. 

This programme translates into a series of 'Giga-projects' worth hundreds of billions of dollars, veritable open-air construction sites requiring engineering, technological and creative skills of the highest level. These include NEOMthe $500 billion futuristic city-state that will include 'The Line', a 170 km long, zero-emission linear metropolis; the Red Sea Project and AMAALAluxury tourist destinations focused on sustainability and well-being; and Qiddiya, an entertainment, sports and arts capital on the outskirts of Riyadh. These projects, together with the development of industrial hubs and special economic zones, represent the beating heart of demand for goods and services, directly fuelling opportunities for the Made in Italy supply chain. 

Data and strategies for exports to Saudi Arabia 

The Italian government promptly recognised the strategic potential of the Saudi market, including it among the priorities of the "Action Plan for Accelerating Exports to High Potential Non-EU Markets“presented by Foreign Minister Antonio Tajani on 21 March 2024. The objective is clear: to bring the total value of Italian exports to 700 billion by the end of the parliamentary term, starting from EUR 623.5 billion in 2024. 

Data confirms the validity of this strategy. In 2024, Italian exports to Saudi Arabia performed exceptionally well, reaching an increase of +27% compared to the previous year.  

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Sector Analysis of Opportunities for Made in Italy 

Saudi economic diversification opens up prairies for Italian supply chains. The opportunities are not limited to traditional sectors, but extend to innovative and high-tech sectors. 

• Infrastructure, Construction and Design: Giga-projects are the main driver of this sector. There is massive demand not only for large civil works, but also for high-quality building materials, sustainable building technologies (green building), advanced plant engineering (HVAC, electrical, plumbing) and, above all, for interior design and the supply of furniture for luxury residential, hotel and commercial complexes. Italian know-how in managing complex projects and in the contract supply chain is a key competitive asset. 

• Renewable Energy and Sustainability: The target of generating 50% of energy from renewable sources by 2030, coupled with an ambitious green hydrogen programme, creates immense opportunities for Italian companies specialising in photovoltaics, wind power, energy storage technologies and water efficiency and waste management solutions. Italian expertise in engineering and components can be seamlessly integrated into the Kingdom's major energy projects. 

• Advanced Manufacturing and Industry 4.0: Saudi Arabia is building a modern industrial fabric from scratch. This requires automation technologies, robotics, mechatronics and machinery for processing different materials. Italian companies, leaders in these segments, can supply not only the machinery, but also the software solutions (IoT, AI, digital twin) for the creation of smart factories.  

• Agribusiness and HORECA supply chain: The evolution of consumption, the opening up to international tourism and the expansion of the large-scale retail trade are fuelling growing demand. This scenario makes the agri-food sector one of the most promising export sectors in Saudi Arabia. In addition to finished products (pasta, oil, canned goods, dairy products), there are great opportunities in food processing technologies, packaging and cold chain logistics. The hospitality and catering (HORECA) sector is booming, demanding professional kitchen equipment, restaurant and café furniture and food service products. 

• Fashion, Luxury and Design: Made in Italy, synonymous with style and quality, perfectly intercepts the aspirations of a middle and upper class with growing purchasing power. The opportunities go beyond clothing and accessories to include jewellery, cosmetics and the entire lifestyle ecosystem, which finds expression in the new shopping centres and luxury districts under development. 

The operating environment: tax advantages and business platforms 

 To attract investment and expertise, the Saudi government has implemented a extremely favourable regulatory and fiscal framework. The main advantages include: 

• Competitive taxation: no personal income tax, a corporate income tax rate of 20% and an agreement with Italy to avoid double taxation. 

• Investment Incentives: no import duties for machinery, equipment and raw materials for new industrial projects. 

• Bureaucratic support: the Regional Headquarters (RHQ) programme offers a package of incentives, exemptions from the 'Saudiisation' (localisation of the workforce) regulation, and facilitation of visas and residence permits for qualified personnel. 

Strategic business platforms have been set up to facilitate the meeting between supply and demand. The Saudi-Italian Business Forum has already established itself as a crucial event.  

 In the HORECA sector, a key event will be Host Arabia, organised by Fiera Milano in Riyadh from 15 to 17 December 2025 in conjunction with Saudi HORECA. This initiative aims to capitalise on the growth of the GCC market for the sectors represented at HostMilano. 

Challenges and critical success factors 

 Navigating the Saudi market, as promising as it is, requires meticulous preparation to be successful in exporting to Saudi Arabia. The main challenges include: 

• Cultural and normative understanding: it is essential to understand local customs, business practices and an ever-changing regulatory framework. 

• International competition: the opportunities offered by Vision 2030 have attracted competitors from all over the world. Standing out requires not only quality, but also constant innovation and a strong local presence. 

• Strategic partnerships: Identifying a reliable local partner is often crucial to overcome bureaucratic barriers, access qualified networks and manage local dynamics. Joint ventures are an effective entry model for long-term projects. 

The time to act is now, with the right strategy 

Saudi Arabia is no longer just a destination market, but a strategic partner with whom to build the future. The scale of its transformation offers Italian companies a generational opportunity to position themselves in one of the most important economic hubs of the 21st century. However, export success in Saudi Arabia cannot be improvised. It requires vision, planning, investment and, above all, in-depth knowledge of the terrain. 

Tackling a market of this magnitude without expert guidance can turn a great opportunity into a costly risk. It is essential to rely on someone who knows the local dynamics, regulatory procedures and the most effective strategies to penetrate the market and consolidate one's presence. 

Octagona is the leading consulting company in accompanying Italian companies on their internationalisation paths. With a consolidated experience in Middle Eastern markets and a tailor-made approach, it offers the support needed to Turning the potential of the Saudi market into concrete results. From defining entry strategy to partner search, from market analysis to legal and tax assistance, we can be the reference for your growth in Saudi Arabia, whatever the sector concerned. Contact us for any information.