Saudi Gazette report

RIYADH — Minister of Investment Eng. Khalid Al-Falih is heading a high-level Saudi Arabian delegation on an official tour of Latin American countries.

The delegation includes a number of government officials, executives of national companies, and representatives from the private sector. The official visit from 31 July to 9 August will take the delegation to Brazil, Chile, Costa Rica, Argentina, Panama, Paraguay and Uruguay.

The visit aims to enhance investment relations and review existing strategic partnerships between Saudi Arabia and the countries of Latin America, in addition to acquainting them with unprecedented opportunities that the Kingdom offers in all fields.

On the first day of the tour, Al-Falih and his team attended a Saudi-Brazilian investment Forum in Brazil with the participation of a number of officials to strengthen the investment relations between the countries in various fields.

The forum reviewed environmental projects and investment opportunities in Saudi Arabia and Brazil, in addition to holding dialogue sessions regarding a number of topics that contribute to enhancing investment relations in fields of common interests, such as mining, food processing, agriculture, transportation, logistics services, health care, entertainment, medicines and vital technology.

The meeting highlighted the possibility of partnerships between investors in both countries with the participation of the representatives of government agencies, the private sector, and major Saudi and Brazilian companies.

Saudi Arabia and Brazil enjoy historical relations. The two countries celebrated during the forum the 55th anniversary of the opening of the Saudi Embassy in Brazil, and the first official bilateral government visit in 1973 AD.

The forum came with the aim of strengthening the investment cooperation between Saudi Arabia and Brazil, and discussing opportunities for enhancing the relations between the two countries, as well as finding qualitative projects that enable the private sector to invest in Brazil, which would contribute to increasing economic cooperation between them.

After the visit to Brazil, Eng. Al-Falih and his accompanying delegation will travel to Chile, Costa Rica, Argentina, Panama, Paraguay, and Uruguay, where they will hold a number of meetings and roundtable sessions with companies.

The meetings will explore opportunities to enhance and deepen investment partnerships with the region. This visit comes as an extension of previous visits organized by the Ministry of Investment to a number of Caribbean and South American countries, which affirmed Saudi Arabia's keenness to build a communication bridge with various countries of the world.