Saudi ties deepen as it declares Portugal is ‘gold’ to its investors

Portugal’s “institutional stability and credibility” are the bedrock upon which investors from Saudi Arabia want to build.

That’s according to Alwalid Albaltan, president of the Saudi-Portugal Business Council (SPBC) who has declared Portugal to be “gold” when it comes to its potential.

Following a string of visits over recent weeks to build economic ties between the two nations, the entrepreneur was clear in his views.

Speaking to the Portuguese title Executive Digest, he said: “Portugal has a huge business potential, which we intend to explore in an increasingly close way.

“Following visits I have made to Portugal, it has been possible to identify a clear set of priority sectors: housing, green energy, infrastructure and, increasingly, technology and AI.

“Portugal has recognised skills in these areas and an execution strategy that is particularly valued by Saudi investors.

“But the Portuguese potential is not limited to two or three sectors. In our view, Portugal is gold.”

The bilateral SPBC has more than 70 members and has conducted a string of visits to Portugal.

Albaltan recently completed a series of meetings in Lisbon and Porto, engaging with organisations including the Portuguese Chamber of Commerce and Industry, AEP, ANJE, and AIMMAP.

Its president adds: “The balance is positive and the future auspicious. I hope the next few years will confirm this trajectory, with more consistent Saudi investment in Portugal and more Portuguese companies entering the Saudi Arabia market.”

ANJE (The Portuguese Association for Young Entrepreneurs) has opened an office in Saudi Arabia, and AICEP (the Portugal Trade and Investment Agency) now has representatives in the kingdom - concrete signs that commercial links are strengthening on both sides.

Albaltan also confirmed that his group has already opened its first Portuguese company, SDCI (Strategic Deals Company for Investment). "On our side, there is a great deal of willingness to make things happen," he concluded.

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