Saudi Fund for Development will visit Argentina to define investments

Inspenet, January 20, 2023

Next Monday, January 23, a delegation from the Saudi Fund for Development (SFD) will visit Argentina with the aim of “defining investment priorities.”

Last week, a team from the Ministry of Economy headed by the Secretary of Development Planning and Federal Competitiveness, Jorge Neme, and the Secretary of Mining, Fernanda Ávila, made a “lightning” tour of Saudi Arabia. There is already a list of works that have the endorsement of Foreign Minister Santiago Cafiero and also of Economy Minister Sergio Massa, which includes projects related to energy and regional economies.

The government team participated in a relevant fair in the mining sector and held meetings with the main government officials of the Arab country, including the heads of the Saudi Fund for Development. Jorge Neme, who was part of the delegation, said that: “the meeting was very positive and the managers expressed their interest in strengthening trade and cooperation ties with Argentina.”

Government sources detailed that “the Saudi Fund is already analyzing the information on energy and irrigation projects that the Ministry of Economy had previously sent them.” On this point, they argued that “during the trip they will make to the country at the end of January, they aspire to define investment priorities together with government authorities.”

Since the beginning of its operations in 1975, the SFD has financed more than 650 projects with an average investment of USD 25.2 million per initiative. “We are talking about a fund that operates in more than 80 countries. It is a very solid cooperation instrument that Saudi Arabia has with the rest of the world and especially with developing countries,” explained one of the officials.

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