“Brazil has sea of opportunities,” Bolsonaro says in Saudi Arabia
On the last day of his visit to Asia and the Middle East, President Jair Bolsonaro today (Oct 30) signed deals with Saudi Arabia and said Brazil has a “sea of opportunities” and a lot to offer investors. “Brazil is on the right track. Today, there’s real independence between the Executive and Legislative branches, with each working towards the same goal: the development of our country,” he said at a forum on future investment.
“I believe that no country in the world has what we have: definitely one of the globe’s best farming lands, which may ensure food security to you. The same holds true to meat—we have a massive market; our meatpacking plants have received more and more international certification,” he said. He also mentioned low interest and inflation, the reduction in unemployment, the Brazil risk, and the passing of the pension reform, which he described as “the medicine we had to administer so that Brazil could survive.”
Before the event, in Riyadh, Bolsonaro met with SoftBank Group CEO Masayoshi Son, and Saudi Arabia King Salman bin Abdulaziz Al Saud. Talks were held on multiple fields, like defense and military services; industrial research, development, and technology for defense; cultural cooperation; and partnerships were forged between Saudi agencies and the Brazilian Trade and Investment Promotion Agency (Apex-Brasil), and the National Economic and Social Development Bank (BNDES).
A deal was also inked to facilitate the issuance of visas for Brazilian and Saudi citizens. Visitor visas for nationals of both countries will allow several entries and be valid for five years, with a 90-day stay period.
Last night (29), Bolsonaro also dined with authorities and investors from several countries and unveiled a partnership with the Saudi Public Investment Fund (PIF), which may lead to the development of projects of up to $10 billion in Brazil.
The president is leaving the Saudi capital today. Previously, he paid visits to Japan, China, the United Arab Emirates, and Qatar, talking about the reforms that the government has been implementing in the economic arena and the investment opportunities in the country.
