Salic, a Saudi Arabian fund, is in discussions with Brazil’s Ministry of Agriculture to renew 40 million hectares of pasture.
This move could double Brazil’s food production area, with no deforestation.
Japan, South Korea, and the UAE are also in talks. However, Saudi Arabia is likely to invest the most via Brazil’s national bank.
These talks started after Carlos Fávaro, Brazil’s Agriculture Minister, met Salic’s Acting CEO in Riyadh.
Both countries aim to form a working group. This group will focus on agriculture and related supplies.
Additionally, Salic plans to form a second group. This team will identify Saudi companies interested in the program.
In another development, Saudi Invest and InvestSP are forming a partnership. This aims to bring foreign investment to São Paulo.
It will also open doors for São Paulo companies in Saudi Arabia.
São Paulo’s governor signed the agreement with a Saudi delegation. The early phase of this deal will share information.
This will boost São Paulo’s ties with Saudi Arabia in sectors like food and energy.
Background Pasture Renewal Brazil
This partnership marks a pivotal moment in Brazil-Saudi relations. It shows both countries’ commitment to sustainable agriculture.
The program could set a global example for increasing food production without harming the environment.
Furthermore, it signifies Saudi Arabia’s active role in international agricultural investment.
The deal also has implications for São Paulo’s economy. Being Brazil’s economic hub, it stands to gain significantly from foreign investment.
As the program unfolds, it will be crucial to monitor its environmental impact.
This initiative could herald a new era in sustainable agriculture and international cooperation.