SAUDI INVESTMENT MINISTRY HOSTS SENIOR BRAZILIAN INVESTMENT MEETING

• His Excellency Khalid Al Falih, Minister of Investment for Saudi Arabia welcomed a senior delegation led by Admiral Flavio Rocha, Brazil’s Secretary for Strategic Affairs, to the Brazilian Investment Meeting

• Representatives from the Saudi and Brazilian government and private sectors discussed mutually beneficial investment opportunities in ICT, agriculture, chemicals and healthcare at the Ministry of Investment (MISA)-hosted event

• The meeting was part of the Brazilian delegation’s three-day visit to the Kingdom, where they were received by multiple Saudi government and commercial entities Riyadh, Saudi Arabia, 2 June 2022: The Ministry of Investment of Saudi Arabia (MISA) today hosted a senior Brazilian delegation at the Brazilian Investment Meeting, where mutually beneficial investment opportunities were discussed in multiple sectors.

The meeting was opened by Minister of Investment Khalid Al Falih, Brazil’s Secretary for Strategic Affairs Admiral Flavio Rocha, who led the Brazilian delegation on its three-day visit to Saudi Arabia, and Engineer Tareq Alhaidari, Vice Chair at the Federation of Saudi Councils.

The meeting included illuminating fireside chats between Saudi and Brazilian private sector representatives about key topics shaping the global investment landscape today, such as food security, fertilizer manufacturing, quantum computing and regenerative medicine.

More than 40 representatives from Brazilian private sector bodies and companies attended the event, joining bilateral meetings with Saudi government and commercial entities including the Public Investment Fund (PIF) Saudi Drug and Food Authority (SDFA), the Saudi Agriculture and Livestock Investment Company (SALIC) and Saudi Basic Industries Company (SABIC) to explore future collaboration across these key sectors.

The Brazilian Investment Meeting follows several successful events this year hosted by the Ministry of Investment to strengthen global bilateral relationships to support foreign investment attraction. Events held between investment counterparts in Greece, Austria, France, Thailand and South Africa have resulted in enhanced co-operation and multiple MoUs signed to explore investment opportunities in many sectors.

Saudi Arabia has seen strong growth in foreign direct investment in recent years as the Kingdom’s economic reforms have unlocked a broad range of opportunities for international investors. Last year net FDI growth increased by an unprecedented 257.2%, with inflows totalling almost $20bn for the year – the highest they have been for a decade. Even amidst the pandemic-induced global lockdowns of 2020, Saudi Arabia’s FDI inflows continued to expand against global declines of 35%, which was preceded by several years of steady underlying growth.