Based on your one-year experience in the country, please share insights about the Omani market.
H.E. Pierluigi D’Elia: Well, we look at the market with great interest because we see significant economic growth and reciprocal investment potential. Oman has introduced Vision 2040, which promotes a new social and economic agenda and presents numerous business opportunities.
Additionally, Oman’s unique geographical position makes it very attractive for many Italian companies looking to expand into new markets. The government is also making substantial efforts to make Oman more welcoming to foreign investments, boosting internal growth and job creation.
What is your strategy for contributing to the continuous growth of the Oman-Italian bilateral relations?
H.E. Pierluigi D’Elia: Here at the embassy, we have strengthened our human resources focused on bilateral commercial relationships also our ICE Desk Oman is working diligently to enhance these relationships, primarily through B2B engagements.
For instance, last April, we successfully hosted the first Omani-Italian matchmaking business forum, organized by TOIFA (The Omani Italian Friendship Association) which saw substantial participation from Italy. The results were promising, showcasing the importance of Italian and Omani companies getting to know each other and sharing business opportunities. This is one of our primary roles here in Oman.
This relates to the Italian Trade Agency, which was launched recently and aims to promote Italian partnerships. Can you describe the benefits for Middle Eastern businesses looking to set up in Italy?
H.E. Pierluigi D’Elia: The Italian Trade Agency is a crucial factor in the internationalization of our businesses. They have an extensive network of offices worldwide, offering services to Italian companies interested in exploring foreign markets. I am particularly proud that the agency has established a desk in Oman. The aim is to support business opportunities abroad, improve the image of Italy, and promote industrial collaboration and foreign investment in Italy.
Italy is well-known for its leadership in various European industries, including renewable energy. What is your outlook on the Italian green energy market, and how can Omani businesses benefit from it?
H.E. Pierluigi D’Elia: Italy’s renewable energy sector has made significant strides recently. In 2023, 40% of our energy production came from renewable sources, including hydroelectric power, solar, photovoltaic, wind, geothermal, and biomass. The sector is growing rapidly, and under the National Resilience and Recovery Plan, which is EU-funded, we are investing 59 billion euros in the green transition from 2021 to 2026. This significant investment is set to transform Italy’s circular economy and green energy landscape, and we believe there are opportunities for Omani businesses to collaborate in this field, mainly through exchanging know-how and new technologies.
You mentioned that Italy is growing in technology and other sectors besides renewable energy. What kind of brands or services would you like to see in Oman?
H.E. Pierluigi D’Elia: We already have well-established Italian brands in Oman. While it’s not my place to mention specific companies, there are certain sectors where we hope to see more Italian expertise. These include the traditional sectors connected to the creative industries, such as fashion, food, and furniture, known as the 3Fs.
Additionally, technology in the biomedical industry, pharmaceuticals, green energy, and sustainability are areas where we actively seek more engagement. For example, waste management and the circular economy are sectors in which Italy is a global leader. Italian companies could significantly contribute to Oman’s development in these areas, supporting the government’s agenda linked to Vision 2040.
Waste management and the circular economy are vital areas in Europe, particularly Italy. What are your insights regarding the region’s circular economy and waste management, and what can be done here in the GCC to improve it?
H.E. Pierluigi D’Elia: It’s an ongoing process. I’ve observed considerable commitment from both Oman’s private and public sectors. Change is happening, but it requires a shift in habits and a restructuring of basic waste management infrastructure. It takes time, but the commitment is evident. Policy decisions must be made regarding technology and the desired outcomes of recycling processes.
The market also plays a crucial role in determining the convenience and profitability of recycling. Where the market falls short, public policy and incentives are necessary to boost the sector. I am optimistic about Oman’s potential in this field and have seen many positive movements, with many Italian companies interested in collaborating with Oman.
Oman is working hard to promote the country in terms of tourism and attract new investors. What kind of country promotion would be interesting for the Italian audience?
H.E. Pierluigi D’Elia: Oman is doing an excellent job in this area. I remember visiting the Omani pavilion at the Milan Expo 2015, which was beautifully presented. More recently, Oman’s participation in the Venice Art Biennale in 2022 and 2024 showcased contemporary Omani art in one of the most prestigious venues globally.
Initiatives like the Omani Golf Trophy have also successfully attracted Italian businesses, and they are expected to be expanded this year. There are many initiatives from both the Italian and Omani governments, and I believe Oman remains highly attractive to Italian tourists and businesses. The interest is certainly growing.
In which areas do Italian companies expect significant growth in the GCC and Oman?
H.E. Pierluigi D’Elia: Digital and green transitions are two interconnected sectors that will see significant growth in the near future. Within these areas are several focus sectors: green mobility, circular economy, and sustainable energy. We’ve seen a growing number of companies dedicated to these sectors, and we are investing tens of billions of euros to advance sustainable mobility, improve our railway system, and enhance green mobility in cities, including better public transport and cycling infrastructure.
In terms of energy, numerous projects are underway, including the development of energy communities and investments in building energy efficiency. However, two main factors are essential to accelerate these developments: incentives and simplified regulations. These are key to boosting these sectors in our countries.
