Over 25 MoUs signed during Brazil-Saudi Investment Forum  

Saudi Gazette report

SÃO PAULO — More than 25 Memoranda of Understanding (MoUs) were signed between government agencies of Saudi Arabia and Brazil during the Brazil-Saudi Investment Forum in Sao Paulo.

The forum was organized by the Kingdom’s Ministry of Investments with the presence of officials from both countries including Saudi Minister of Investments Eng. Khalid Al-Falih and Brazil’s Vice President and Minister for Development, Industry, Trade and Services Geraldo Alckmin.

The forum witnessed the signing of MoUs between government agencies and the private sector as well as between the private sector in each country in the fields of petrochemicals, health, defense, food, real estate, tourism, water desalination and treatment, and agriculture.

The activities of the forum included presentations on investing in Saudi Arabia, investing in the Special Economic Zones of the Kingdom, Riyadh Expo 2030, and the investment potential in Brazil, and the investment environment in the state of São Paulo.

The forum constituted an important opportunity for Saudi and Brazilian companies to exchange experiences and discuss cooperation and partnership opportunities.

A number of dialogue sessions were held to deal with various topics in such sectors as transportation, logistics services, mining, food industries, agriculture, health care, sports and entertainment.

On Tuesday, the Brazilian-Saudi roundtable meeting will be held with the aim of discussing investment opportunities, upgrading investment relations between the two countries, and strengthening efforts to develop economic and investment ties in fields of common interest.

The forum comes within the framework of the official visit of Eng. Al-Falih and his accompanying delegation to Latin America from 31 July.

The official visit aims to expand the scope of cooperation and joint work, develop mutual investments and stimulate partnerships between the private sector from both sides, in addition to discussing opportunities for developing cooperation in various sectors.