Saudi Minister of Investment Eng. Khalid Al-Falih and Argentinian Minister of Foreign Affairs International Trade and Worship Santiago Andres Cafiero have signed a memorandum of understanding concerning cooperation to encourage direct investment between Saudi Arabia and Argentina.
The memorandum was reached during the Saudi delegation's visit to Latin American countries.
The ministers held a meeting in the attendance of several representatives from the private sector and Saudi and Argentinian companies.
Al-Falih and Cafiero discussed strengthening relations and boosting investment in the two countries through important projects in vital sectors and fields of joint interest.
The Saudi minister reviewed the Ministry's role in attracting investments, enabling sectors to grow, setting up regulations and policies, improving access to services through public-private sector partnerships, as well as carrying out the social and economic transformation envisaged in the Saudi Vision 2030.
The Ministry supports Saudi and foreign private sectors to develop and contribute to economic development and to make it easy to deal with the relevant authorities in the Kingdom and abroad.
Moreover, Al-Falih held a Saudi-Chilean investment roundtable meeting, in Chile's capital Santiago, that discussed investment opportunities and ways to advance the investment relationships between the two countries.
The meeting was held in the attendance of several government officials from both countries, in addition to the participation of the representatives of the private sector from the Kingdom and Chile.
During the meeting, the two countries discussed ways of enhancing the efforts to develop the economic and investment ties between Saudi Arabia and Chile. They also discussed ways to develop qualitative investments and empower the private sector to benefit from the investment opportunities of both countries.
The two sides have also discussed aspects of investment partnership in several fields with common interests, and ways to strengthen them.
Al-Falih has met with several Chilean ministers, such as Alberto van Klaveren, minister of foreign affairs, as well as Nicolás Grau, minister of economy, development, and tourism, in addition to Jessica Lopez Saffie, minister of public works.
The Saudi delegation also visited Paraguay to discuss reinforcing investments and to showcase the qualitative unprecedented opportunities of the Kingdom.
The Minister of Investment is heading a high-level delegation of a number of government agencies, national companies, and representatives of the private sector on an official tour to Latin American nations between July 31 and August 9.
The tour includes Brazil, Chile, Costa Rica, Argentina, Panama, Paraguay, and Uruguay.
The tour aims to strengthen investment relations, review the existing strategic partnership between the Kingdom of Saudi Arabia and Latin American countries, and highlight the qualitative and unprecedented opportunities that the Kingdom abounds in all fields.
