The Saudi Arabian Ministry of Investment reported a 19% increase in licenses in the first quarter of this year.
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Such was the hike in 2018/2019 from the preceding fiscal year, driven by the petroleum industry. The administration expects industry to be a major driver of GDP growth this year.
Brazilian Agricultural Research Corporation president Celso Moretti visited the Arab country and discussed partnerships in several fronts, including Africa. The institution could open an office in Abu Dhabi. “We’ve identified four big pillars of cooperation,” he told ANBA.
Representations of the Oman Chamber of Commerce and Industry and the country’s ambassador visited the Arab Brazilian Chamber. They participated in the organization’s board meeting.
The announcement was made in Davos, Switzerland during the World Economic Forum. Summit will run in October, before the G20 meetings.
Global foreign direct investment flow totaled USD 1.39 trillion last year, down 1% from a year before. But in Brazil they increased 26%, in Saudi Arabia 9%, and in Egypt 5%.
MENA accounted for 20% of total portfolio flows to emerging financial markets from 2016-2018.
Value apportioned in the budged to be invested is USD 5.5 billion, the lowest one since 2004.
Negative current balance stood at USD 2.1 billion in November and USD 45 billion year-to-date. But foreign direct investment made up for it.
The process includes four units with ‘binding’ status, where investors can look into the risks involved in the deals and make their bids.
The 18th Arab Businessmen and Investors Conference is taking place from November 11 to 13 in Manama.
A September survey from the Brazilian Micro and Small Business Support Service (Sebrae) shows that owners of micro and small enterprises are planning to make investments.
The upcoming edition of the conference on foreign direct investment is slated for March 2020 in Dubai. The southern Brazilian state is planning to present proposals worth as much as USD 85 million between them.
Brazil’s president is slated to travel to the UAE, Qatar and Saudi Arabia from October 25 to 31. The Ministry of Foreign Affairs said the trip is intended to publicize investment opportunities in Brazil and foster exports.
