Page 35 - ABCC PR REPORT DECEMBER 2023

12/14/23, 4:29 PM Saudi Arabia To Receive Brazilian Business Mission In March | MENAFN.COM
Memorandum of Understanding (MoU) as part of the preparations for the mission (pictured
above, the speakers at the event).

In his presentation at the event, Mansour said Saudi Arabia is undergoing an economic

transformation to make the country a hub for attracting investment and generating
opportunities in the next 15 to 20 years.“It is a very promising moment for Brazilian

companies, not only in commodities, but we want to add [to the trade basket between the
countries] value-added products from all sectors,” said Mansour.

The executive also said Brazil and Saudi Arabia will have many opportunities for mutual

investments in the coming years. Brazil will host the G20 summit next year, a meeting
between the leaders of the world's largest economies, and the United Nations Conference on

Climate Change (COP30) in 2025. Saudi Arabia will host the 2029 Asian Winter Games, Expo
2030, and the 2034 World Cup.

Mourad (L) and Doria Neto (R): Signing of MoU

Mourad added that Saudi Arabia is undergoing a transformation under a young leader, prime
minister and crown prince Mohammed bin Salman, who is conducting the country towards an

economic shift guided by the“Vision 2030” roadmap, which has the main goal of transitioning
the Saudi economy towards lower dependency on hydrocarbons.

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