The Saudi Arabian Ministry of Investment reported a 19% increase in licenses in the first quarter of this year.
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The food processing facility was bought in a USD 8 million deal by the Brazilian company, which is planning to increase the plant’s output fivefold.
The announcement was made in Davos, Switzerland during the World Economic Forum. Summit will run in October, before the G20 meetings.
Partnerships were entered into during a seminar that featured president Jair Bolsonaro, including between ANBA and Arab News newspaper.
A delegation from the Saudi Arabian General Investment Authority paid a visit to the Arab Brazilian Chamber of Commerce in a bid to publicize opportunities in strategic sectors within the Arab country.
