Saudi Wants Family Offices to Help Build Americas Investment

Ties with Brazil are growing with two-way investments
Abdulrahman Bakir helped lead tour of 100 delegates to region

Abdulrahman Bakir, head of the Americas for the Saudi Ministry of Investment, speaks during the Brasil Investment Forum in Brasilia on Nov. 8, 2023. Photographer: Andressa Anholete/Bloomberg

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By Daniel Cancel

June 19, 2024 at 12:55 PM UTC

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Before 2020, Saudi Arabian investment in Brazil was so small that it didn’t even appear in the central bank’s database for relevant foreign inflows.

That figure jumped sevenfold to $4 billion through 2023, and should keep growing, said Abdulrahman Bakir, managing director of the Americas for the Saudi Investment Ministry.