At a meeting in Riyadh, the president of Brazil and the crown prince of Saudi Arabia discussed strengthening relations between their countries. The Arab nation’s sovereign wealth fund is expected to invest USD 9 billion in the Brazilian market over the next seven years. The presence of Brazilian companies in Saudi Arabia was also one of the topics.
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The Saudi crown prince and prime minister welcomed the Brazilian president and his delegation at the royal palace this Tuesday evening (28). Ministers of Energy of Brazil and Saudi Arabia signed an agreement.
Mohammed bin Salman held a phone call on Friday (13) with the Brazilian president Jair Bolsonaro.
Saudi Arabia’s crown prince said the country will work to lead the coming green era. The megaprojects announced last week are set to plant 50 billion trees and reduce carbon emissions by 60% in the Middle East.
Analysis carried out by lawyers Fábio Amaral Figueira and Mostafa Elfar shows how foreign investment fits in the Vision 2030 strategy of Saudi Arabia to diversify its economy and reduce oil dependence.
