Pierroberto Folgiero: Fincantieri’s Role in Saudi Arabia’s Vision 2030
In an interview, Pierroberto Folgiero, Chief Executive Officer and Managing Director of Fincantieri, delves into the company’s pivotal role in shaping Saudi Arabia’s rapidly evolving shipbuilding, defense, and maritime sector, crucial to the Kingdom’s Vision 2030 agenda.
Driving Growth in Saudi Arabia and the GCC Region
Fincantieri’s expansion in Saudi Arabia and the wider GCC region is fueled by the region’s strategic importance, strong economy, and increasing investments in maritime and defense industries. Positioned at the intersection of global trade routes, the GCC plays a vital role in international shipping and logistics. With ambitious initiatives like Saudi Arabia’s Vision 2030 focusing on economic diversification and infrastructure development, the shipbuilding and maritime sectors are at the core of this transformation.
With over 230 years of advanced shipbuilding experience, Fincantieri is uniquely positioned to support these regional endeavors. As the sole shipbuilding group involved in all high-tech marine industries, we are leading the way in enhancing local shipbuilding capabilities and technological advancements. Our leadership will continue to bolster the region’s reputation as a global maritime hub while safeguarding strategic waterways and facilitating energy exports crucial to the region’s economic prosperity.
Contributing to Saudi Arabia’s Maritime Advancement
Fincantieri is solidifying its role as a key facilitator of Saudi Arabia’s Vision 2030 through its local subsidiary, Fincantieri Arabia for Naval Services. Established in 2024, the subsidiary showcases Fincantieri’s extensive shipbuilding expertise across maritime systems and naval logistics support services, including advanced training and simulation capabilities. Fincantieri Arabia for Naval Services paves the way for expanding our regional presence by managing relationships with stakeholders in the Kingdom and identifying collaboration opportunities within the shipbuilding and maritime sectors.
Committed to Vision 2030, we transfer our technological shipbuilding know-how, create opportunities for Saudi nationals, and drive innovation across the cruise, defense, and offshore sectors. Our focus on green ship development aligns with Saudi Arabia’s sustainability goals, aiming for net-zero emissions by 2060. By developing new clean technologies, Fincantieri establishes itself as a competitive force in the global maritime industry.
Moreover, our vertically integrated business model and track record of innovation, advancing digitalization in shipyard operations with technologies like digital twins, AI, welding robots, and uncrewed vehicles, position Fincantieri as a strong partner in supporting Saudi Arabia’s aspirations to become a global hub for maritime technology and excellence.
Localization and Partnership: Fincantieri’s Support for Vision 2030
With Saudi Arabia’s emphasis on localization under Vision 2030, Fincantieri aligns its strategy with the Kingdom’s goal of enhancing local industries. By establishing joint ventures and fostering partnerships, we embed ourselves in the local industrial ecosystem, ensuring sustainable collaboration beyond individual projects.
For example, we collaborate with King Abdullah University for Science and Technology (KAUST) on cybersecurity initiatives to secure naval communications and protect onboard automation systems. This partnership combines KAUST’s academic excellence with our industry expertise to address critical cybersecurity challenges in the maritime sector and fortify the Kingdom’s technological infrastructure.
Our dedication to training local talent and transferring advanced technologies to Saudi workers plays a central role in this localization effort, propelling our operations forward and supporting Saudi Arabia’s broader industrialization and economic diversification goals under Vision 2030.
Strategic Priorities for Expansion in Saudi Arabia and the GCC Region
As Fincantieri reinforces its commitment to enhancing Saudi Arabia’s defense capabilities, we acknowledge the evolving role of our operations in the region’s maritime and defense industries. Central to this evolution are localization, knowledge transfer, and technological innovation. With the region facing growing geopolitical complexities and the imperative to secure vital maritime routes, our advanced naval solutions will be crucial in ensuring stability in the Red Sea, essential to Saudi Arabia’s Vision 2030.
With a growing footprint in the region, Fincantieri is well-placed to lead the development of advanced, sustainable solutions for Saudi Arabia’s maritime and defense sectors. We anticipate playing a significant role in the Kingdom’s defense supply chain, setting new standards for shipbuilding and contributing to the region’s strategic objectives.
Beyond defense, we see Saudi Arabia’s ambitious projects like NEOM and the Red Sea coastline development as transformative for the global cruise and tourism industries. These projects, blending innovation, luxury, and sustainability, align with Vision 2030’s aim of positioning Saudi Arabia as an international tourism hub. Futuristic cities such as The Line and Sindalah Island, alongside the eco-tourism focus of the Red Sea Project, will offer unique, sustainable experiences enhancing the Kingdom’s competitiveness in the global tourism market.
Saudi Arabia’s substantial investments in world-class cruise infrastructure will further solidify its position as a regional hub for maritime connectivity. These developments will create opportunities for homeports and regional cruise itineraries while preserving the delicate Red Sea ecosystem. Leveraging our expertise in designing eco-friendly ships and developing green port infrastructure, Fincantieri is well-equipped to support these efforts and contribute to Saudi Arabia’s cruise ambitions, driving economic growth, creating jobs, and elevating the Kingdom’s status as a global leader in luxury and eco-tourism.
