With a Portuguese business delegation visiting Saudi Arabia, the president of the Saudi Arabia-Portugal Business Council has told Lusa that the Saudi economy is booming, and this represents “opportunities for Portuguese companies”.
“Saudi businesspeople are very interested and want to find the right way to invest in Portugal,” said Alwalid Albaltan in Riyadh, where a two-day visit by the Minister of Economy and Territorial Cohesion, Manuel Castro Almeida, is underway.
The Saudi Arabia-Portugal Business Council and its Portuguese counterpart began working about a year ago to promote investment, organising business missions and information sessions on business in both countries – and according to Alwalid Albaltan “everything is coming together” for “building something big for the future”.
Saudi interest when it comes to investment takes in sectors such as tourism, industry, agriculture and energy, he said.
Albaltan referred to Portugal’s organisation with Spain and Morocco of the World Cup in 2030. Four years later, it will be the turn of Saudi Arabia. “This is the time to launch tourism,” he stressed.
In the same vein, president of the Portugal-Saudi Arabia Business Council, Abílio Alagôa da Silva, predicted that “The next 10 years will be ones of great prosperity” in Saudi Arabia, citing the “transformative” capacity of the so-called “Vision 2030”, a strategic plan launched in 2016 to diversify the country’s economy beyond oil”.
This plan includes major projects such as Expo 2030; Qiddiya, a future entertainment and sports hub, which will include the future Al-Nassr stadium and training centre; King Salman Park – set to become the largest urban park in the world – in the Saudi capital; the futuristic city of NEOM; and luxury tourism projects on the Red Sea coast.
“There is a wave now, and we have to take advantage of it,” said Abílio Alagôa da Silva, stating that Saudis have “a great affinity” with the Portuguese.
Portugal also has an informal “ambassador”: footballer Cristiano Ronaldo, who currently plays for the Saudi club Al-Nassr.
“He has done a lot to bring the two countries closer together. We love him and already see him as a Saudi,” said Alwalid Albaltan.
Riyadh has been hosting a business and investment forum with around 50 Portuguese companies and more than 200 Saudi companies participating.
During this meeting, 15 memoranda of understanding are expected to be signed in different sectors of the economy.
Minister Castro Almeida’s visit includes bilateral meetings with members of the Saudi government and the seventh joint commission meeting between Portugal and Saudi Arabia.
*** Lusa news agency travelled at the invitation of the Ministry of Economy and Territorial Cohesion ***
Source: LUSA
