Saudi Gazette report

LISBON — The Saudi-Portuguese Business Council, led by Chairman Alwaleed Al-Baltan, has concluded a successful visit to Portugal, marking significant progress in enhancing economic cooperation between the two nations.

During the visit, the delegation engaged with key Portuguese officials, including the ministers of economy, agriculture, parliamentary affairs and sports, infrastructure and housing, as well as the mayors of Porto and Leiria.

A major highlight of the visit was the signing of a tripartite framework agreement between the Saudi-Portuguese Business Council, the Arab-Portuguese Chamber of Commerce and Industry, and the Portuguese Business Council. This agreement aims to strengthen economic relations and explore collaborations in aviation, tourism, sports investment, media, education, healthcare, agriculture, and fish farming.

During the visit, more than 260 Portuguese companies expressed readiness to enter the Saudi market.

The delegation held meetings with officials from the sports and aviation sectors, underscoring the wide-ranging potential for collaboration. Additionally, the delegation met with Saudi Arabia's Ambassador to Portugal Prince Saud bin Abdul Mohsen to discuss the outcomes of the visit.

In Lisbon, workshops were organized to introduce Portuguese companies to investment opportunities in Saudi Arabia. With participation from Al-Hawaishel Law Firm and Bank AlJazira, these sessions detailed the Kingdom's investment systems, incentives, and financing solutions.

The delegation visited several prominent Portuguese firms specializing in ports, marine warehouses, real estate, technology, media, tourism, transportation, and infrastructure. Notably, Microsaur, a technology solutions and protection systems company, and Etermar, a specialist in port operations, announced plans to establish regional headquarters in Saudi Arabia.