{"id":333236,"date":"2023-07-31T19:53:50","date_gmt":"2023-07-31T22:53:50","guid":{"rendered":"https:\/\/anba.com.br\/ministro-arabia-saudita-quer-investir-em-energia-verde\/"},"modified":"2023-08-03T17:48:40","modified_gmt":"2023-08-03T20:48:40","slug":"ksa-wants-to-invest-in-green-energy-minister-says","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/ksa-wants-to-invest-in-green-energy-minister-says\/","title":{"rendered":"KSA wants to invest in green energy, minister says"},"content":{"rendered":"

S\u00e3o Paulo \u2013 Green energy and food security are two main sectors Saudi Arabia is interested in investing in Brazil. The financial, automotive, agricultural, transport & logistics, infrastructure, ecotourism, and entertainment sectors were others mentioned by the Saudi Arabian minister of Investment, Khalid Al-Falih, at the Brazil-Saudi Arabia Investment Forum<\/strong>, which took place this Monday (31) morning at the headquarters of the Federation of Industries of the State of S\u00e3o Paulo (FIESP), in the city of S\u00e3o Paulo.<\/p>\n

\u201cWith the evolution of the Global South coupled with shared ideals between Brazil and Saudi Arabia, aligned strategic interests, and solid private sectors, which we respect, why couldn\u2019t we become a top five investor in each other\u2019s economy? I believe we could, should, and it is feasible. This is the goal<\/strong> of each delegation member, both public and private sector; this was the guidance we received from our leadership with this historic mission we are carrying out,\u201d declared Al-Falih in his speech at the event. The Saudi delegation has around 100 people.<\/p>\n

Al-Falih stated Brazil and Saudi Arabia have many qualities in common, despite the geographic distance. \u201cWe are two proud members of the G20 and major energy producers. We are well-positioned to be strategic partners, the economic leaders of our respective regions,\u201d he said.<\/p>\n

Regarding climate change, he recalled the goals of zeroing carbon emissions are also close. \u201cBrazil\u2019s long-term commitment is to have zero emissions by 2050 and reduce emissions by 50% by 2030, and the Kingdom aims to reach zero emissions by 2060, which will be quite challenging for Saudi Arabia, given we are a significant producer of hydrocarbons [oil and gas] and a very industrialized country. We don\u2019t have the blessings of the Amazon to absorb our carbon emissions, but we\u2019re looking for it,\u201d he said.<\/p>\n

The minister mentioned a Saudi green hydrogen project had over USD 10 billion in investments, and his country wants to replicate it in Brazil. \u201cWe also launched green initiatives in Saudi Arabia and the Middle East to boost renewable energy and circular economy and plant 50 billion trees, 10 billion of which in Saudi Arabia,\u201d he said.<\/p>\n

The Kingdom has also been advancing in the automotive sector and aims to produce half a million electric vehicles annually. The minister said they will need investment in batteries and other supplies.<\/p>\n

The Saudis have also been investing in the country to become a regional food security hub, want to invest in Brazilian agricultural production, and continue to be a prominent supplier of fertilizers.<\/p>\n

\u201cFor this, we need a robust transport and logistics sector, considering Brazil\u2019s vast territory and economic scale. This need is to ensure everything runs smoothly, especially in the global supply chain, for commodities and imported goods. An infrastructure improvement would reduce logistics costs in Brazil,\u201d he declared.<\/p>\n

Saudi Arabia intends to attract 100 million tourists by 2030, and for that, it has been investing in ecotourism and entertainment and sees Brazil as a reference in these sectors. Al-Falih mentioned the Fasano Hotel signed a Memorandum of Understanding (MoU) to invest in one or two projects in Saudi Arabia.<\/p>\n

Saudi Arabia also wants to invest in Brazilian biofuels and biochemicals and sees this market could have great potential. The Arab country wants to host Expo 2030 and is optimistic about the election.<\/p>\n

\u201cWhat I\u2019ve mentioned here are just a few of the many sectors we\u2019ve found great potential. But our interest and support extend to all opportunities for large, medium, small companies, and innovative startups,\u201d he said. Al-Falih also mentioned interest in the pharmaceutical, biotechnology, agrotechnology, and aerospace industries and said he would visit Embraer. The Brazilian financial sector was also mentioned.<\/p>\n

\"\"
Alckmin received a gift from the Saudi minister<\/em><\/figcaption><\/figure>\n

The minister of Development, Industry, Commerce, and Services and vice president<\/strong> of Brazil, Geraldo Alckmin, also spoke at the event. He recalled Arabs are strongly present in Brazilian culture and the state of S\u00e3o Paulo and said his name could have an Arab origin.<\/p>\n

For the vice president, there are great opportunities for partnerships and investments between the countries, such as in petrochemicals, energy, automotive, ethanol, sustainable aviation fuel (SAF), and infrastructure.<\/p>\n

He said Brazil has a significant lithium reserve<\/strong> and made its first ore export from the Jequitinhonha Valley in Minas Gerais through a port in Esp\u00edrito Santo. \u201cNow we have the challenge of taking the most important step, which is the production of cells and batteries for electric vehicles,\u201d he said.<\/p>\n

Alckmin stated Brazil has been growing with stability and predictability. \u201cBrazil is growing, the GDP is up, unemployment has dropped, our currency has appreciated, and the stock market has climbed. It encourages us to carry out even more reforms and seek greater economic efficiency,\u201d he said. Alckmin highlighted the tax reform would stimulate the Brazilian industry by reducing the \u201cBrazil cost\u201d and relieving taxes on investments in Brazil and exports.<\/p>\n

The minister and vice president also mentioned the reduction in deforestation in the first half of this year. \u201cWe can proudly state deforestation fell by over 50% in this first half. Brazil is committed to fighting climate change and [protecting] the Amazon rainforest,\u201d he said.<\/p>\n

The forum was a partnership between FIESP, Sete Partners, and Invest Saudi, Saudi Arabia\u2019s investment agency, with support from the Arab Brazilian Chamber of Commerce (ABCC).<\/p>\n

Translated by El\u00fasio Brasileiro<\/strong><\/p>\n

Ayrton Vignola\/Fiesp<\/div>\n
Ayrton Vignola\/Fiesp<\/div>\n","protected":false},"excerpt":{"rendered":"

According to the minister of investment of Saudi Arabia, Khalid Al-Falih, his country is interested in investing in Brazil\u2019s food, financial, automotive, transport & logistics, infrastructure, ecotourism, and entertainment sectors. He spoke at the Brazil-Saudi Arabia Investment Forum.<\/p>\n","protected":false},"author":2305,"featured_media":333202,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[102,91,114],"tags":[11910,44177,43961,44169,44178,2734,8502,37792,28968,9829,44165,15971,37799,38158,44179,9595,44180,27500,31186],"class_list":{"0":"post-333236","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-agribusiness","8":"category-economy","9":"category-news","10":"tag-arabia-saudita-en","11":"tag-biocombustiveis-en","12":"tag-biofuels","13":"tag-brazil-saudi-arabia-investment-forum","14":"tag-carro-eletrico-en","15":"tag-electric-cars","16":"tag-electric-vehicles","17":"tag-energia-verde-en","18":"tag-evs","19":"tag-food-security-en","20":"tag-forum-de-investimentos-brasil-arabia-saudita-en","21":"tag-geraldo-alckmin-en","22":"tag-green-energy","23":"tag-khalid-al-falih-en","24":"tag-ministro-de-investimentos-saudita-en","25":"tag-saudi-arabia-en","26":"tag-saudi-investment-minister","27":"tag-seguranca-alimentar-en","28":"tag-seguranca-alimentar-en-2"},"wps_subtitle":"According to the minister of investment of Saudi Arabia, Khalid Al-Falih, his country is interested in investing in Brazil\u2019s food, financial, automotive, transport & logistics, infrastructure, ecotourism, and entertainment sectors. He spoke at the Brazil-Saudi Arabia Investment Forum.","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/333236","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2305"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=333236"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/333236\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/333202"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=333236"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=333236"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=333236"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}