UAE’s Investment Ministry signed two new MoUs with Italy to expand cooperation in minerals development, data centers, and AI, state news agency Wam reports. The agreements are part of the UAE’s recent USD 40 bn investment pledge in Italy announced after UAE President Mohamed bin Zayed Al Nahyan wrapped his visit to Rome.

Sustainable minerals development: A five-year MoU will drive collaboration in sustainable mining, covering exploration, extraction, processing, recycling, and workforce training. The agreement promotes responsible mineral sector governance and seeks to attract investment across the mineral value chain.

Data centers and AI expansion: The UAE and Italy will invest in green data centers — targeting up to 2 GW of capacity — and explore Virtual Data Embassies to strengthen cross-border data resilience. Leading companies MGX, G42, Khazna, and Eni will drive investment in cloud services, AI infrastructure, and talent development in high-performance computing.

ICYMI- Earlier this week, Eni and Abu Dhabi’s AI fund MGX and state AI firm G42 signed a letter of intent to develop blue-powered data centers with an initial 1 GW capacity in Italy. UAE’s sovereign wealth fund ADQ also signed an agreement with Eni to develop a critical minerals supply chain.

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