Closing bell: Saudi Arabia’s main index slips to close at 11,478 

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SAO PAULO: The Federation of Saudi Chambers desires to ascertain an workplace in Sao Paulo, its assistant secretary-general has mentioned.

Waleed Al-Orainan visited the Arab Brazilian Chamber of Commerce on Tuesday in Sao Paulo, the place he’ll keep for just a few extra days earlier than returning to Riyadh.

Mishal bin Hithlain, chairman of the Saudi Brazilian Enterprise Council, was additionally on the go to, and mentioned the Kingdom is working to ascertain the workplace as quickly as doable.

The Kingdom’s commerce attache in Washington, Reem Al-Tharwa, was a part of the delegation, together with Abdulrahim Al-Muaibid, relations supervisor for the Americas and director of the council; council member Abdulmalik Al-Qahtani; and Omar Al-Mughamis, representing the Saudi Authority for International Commerce.

Bin Hithlain mentioned the Kingdom desires extra Brazilian corporations to ascertain themselves there, as Saudi Arabia is the biggest economic system within the Center East.

He added that it will be significant for each nations’ personal sector to work together extra and study one another’s enterprise cultures.

Al-Orainan mentioned partnerships in tourism, oil and fuel, and meals safety are prospects. “We’re very inquisitive about selling cooperation,” he added.

“If you wish to do enterprise with Saudi Arabia, you need to go there to see the nice transformations which were going down,” he mentioned.

“Our ambition is what drives us, what will get us up within the morning,” he mentioned, including that Saudi unemployment has dropped from 13 % to eight %, and that the Kingdom has a younger and energetic inhabitants, in addition to giga-projects in several areas and sectors similar to NEOM, The Line and Qiddiya, which offer quite a few enterprise alternatives.

Giga-projects are a part of the Kingdom’s Imaginative and prescient 2030 plan for financial diversification, and the tourism sector is being closely invested in.

The FSC delegation mentioned it desires to extend the variety of visits of businesspeople between the nations by commerce missions.

“Our mission is to assist and facilitate visits. We invite you to go to Saudi Arabia with a enterprise delegation, and we are able to work collectively to make an agenda for enterprise conferences. We’re the umbrella representing our personal sector,” mentioned Al-Orainan.

“We’re inquisitive about growing this relationship with out limits, and we consider will probably be a strategic partnership for the federation.”

Al-Orainan and Bin Hithlain instructed actions, similar to lectures and seminars, to boost consciousness about how you can do enterprise in each nations.

The Saudis had been welcomed by Arab Brazilian Chamber of Commerce President Osmar Chohfi, its institutional relations director Fernanda Baltazar, and director Mohamad Abdouni.

Chohfi has already been to Riyadh, and mentioned subsequent time he desires to go to Jeddah. “We must always promote a direct flight (between Sao Paulo and Riyadh) by a Saudi airline,” he added.

Additionally they mentioned enterprise alternatives for Brazilian entrepreneurs within the enormous halal market, not solely with regard to meals and drinks but additionally tourism, vogue, cosmetics and prescribed drugs.

Sustainability was one other subject mentioned on the assembly. Baltazar mentioned each nations may create a joint agenda, contemplating that COP28 will happen in Dubai later this 12 months, in order that taking part Brazilian corporations can go to Saudi Arabia afterward.

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