• The Brazilian – Saudi Investment Forum showcased opportunities to expand and deepen ties between the two countries, following a recent series of high-level bilateral meetings.
  • 25 Memoranda of Understanding were signed across sectors including Petrochemicals, Food Processing, Tourism, Healthcare, Real Estate, Aerospace and Defense. 

Riyadh, Saudi Arabia: The Ministry of Investment of Saudi Arabia (MISA) participated in the Brazilian - Saudi Investment Forum on the 31st July 2023 in São Paulo, Brazil. The event comes at the beginning of a broader visit encompassing six countries across Latin America, led by His Excellency Khalid Al-Falih, Minister of Investment for Saudi Arabia. The visit will span Brazil, Chile, Costa Rica, Argentina, Panama and Paraguay.

The forum came as Brazil and Saudi Arabia mark 50 years since the opening of the Saudi embassy in Brazil and the first official bilateral government visit. Since 1973, bilateral and economic ties have deepened significantly. In 2021, the value bilateral trade amounted to around $3.62bn and the complementarity of the export profiles of the two countries suggest strong potential for further growth.

25 Memoranda of Understanding (MoUs) were signed at the Brazilian – Saudi Investment Forum, across sectors including Petrochemicals, Food Processing, Tourism, Healthcare, Real Estate, Aerospace & Defense. This includes an MoU between civil construction company OEC and MISA for the former to open a Regional Headquarters (RHQ) in the Kingdom to explore construction opportunities in Saudi Arabia in consortium with Saudi construction companies. Light Capital also signed an MoU with MISA to open a RHQ which will explore payment systems in the Middle East.

This potential for Saudi and Brazilian investors to partner to help to address key global challenges was highlighted earlier this month when Manara Minerals, a joint venture between Ma’aden and the Public Investment Fund (PIF), signed an agreement to invest in Vale’s Energy Transition Metals business.

This transaction builds on other key partnerships such as the 25% stake in Minerva Foods, a Brazilian company that is one of the largest meat producers in South America, held by SALIC (The Saudi Agricultural and Livestock Investment Company) and PIF’s Brazilian program, under which it aims to invest up to $10bn in Brazil as part of its wider international investment strategy.

Following engagements in Brazil, the Saudi delegation will continue to Paraguay, Chile, Argentina, Uruguay, Costa Rica and, finally, Panama, where the visit will conclude on 9th August. During the visit, the delegation will host a series of high-level meetings as well high-level business-to-business roundtables which will provide the opportunity to explore potential to deepen existing partnerships.

The visit reflects growing economic ties between Saudi Arabia and the Americas. Last year saw the first Saudi-Caribbean Investment Forum held in the Dominican Republic while earlier this year, a senior Saudi delegation, led by MISA, visited Costa Rica, the Dominican Republic, Panama and Colombia.

MISA will be promoting the unparalleled investment opportunities for Latin American investors in Saudi Arabia. The Kingdom has seen strong growth in the non-oil sector in recent years and is looking to unlock more than $3tn in investment opportunities through its National Investment Strategy.

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Media Contact
misa@consulum.com 

About the Ministry of Investment

The ongoing transformation of Saudi Arabia under the Vision 2030 economic development and diversification plan is unlocking new investment opportunities at an unprecedented pace. The Ministry of Investment of Saudi Arabia (MISA) is facilitating access to these opportunities by developing a vibrant cross-government investment ecosystem, facilitated by Saudi Arabia’s National Investment Strategy.

Through a network of representative offices across the world, MISA partners with businesses of all scales and sizes—from startups to blue-chip multinationals—to help make investing in Saudi Arabia as simple as possible. MISA also plays a leading role in improving Saudi Arabia’s overall business environment by facilitating investment data across regions and sectors, creating investment incentives, spearheading business reforms and opening up investment opportunities.

For more information on MISA, please visit the website 

About Invest Saudi 

Overseen by Saudi Arabia’s Ministry of Investment (MISA), Invest Saudi is the Kingdom’s investment attraction and promotion entity charged with communicating and facilitating investment opportunities.

Invest Saudi is the primary point of contact for foreign investors seeking information and assistance before, during and after their entry into Saudi Arabia. It is committed to working in partnership with potential and current investors to make their investment journey a seamless experience.