Brazilian President Jair Bolsonaro visited three GCC countries
in October — Saudi Arabia, Qatar and the UAE.
In Saudi Arabia, it was announced that the Saudi Public
Investment Fund would be willing to invest up to US$10 billion in
Brazil. Brazil would be the sixth country to receive investments
from this fund, which has a portfolio of US$320 billion. Although
the sectors to receive the investments are not yet defined, it is
said that the investments would be made within three years.
Moreover, Brazil and Saudi Arabia should soon be signing an
accord that would facilitate the granting of visas. The validity of
the visas would no longer be one year, but rather five years and
with multiple entries. It is also intended that the fee related to
the issuance of the visas would decrease.
