OPEC+ panel keeps policy unchanged against backdrop of stronger oil market

OPEC+ panel keeps policy unchanged against backdrop of stronger oil market

MONTEVIDEO, Uruguay: Saudi Investment Minister Khalid Al-Falih led a 60-member delegation that took part in an investment forum in Uruguay’s capital Montevideo on Thursday.

It was the third high-level Saudi visit in 18 months, including one in May by Foreign Affairs Minister Adel Al-Jubeir.

Uruguayan authorities and business leaders are confident that the country can serve as Saudi Arabia’s point of entry for South America.

“Uruguay offers economic, legal and social stability for companies looking to do business and invest here,” Alfredo Ferrari, investment manager of the country’s promotion agency Uruguay XXI, told Arab News on the sidelines of the forum.

Ammar M. Altaf, assistant deputy of services sectors in the Saudi Investment Ministry, stressed the similarities between Uruguay and the Kingdom.

“We believe there’s complementarity. Uruguay has competitive sectors and offers an opening for investment opportunities,” said Altaf, spokesperson for the delegation that included representatives of the agriculture, real estate, sports and technology sectors. “It’s not surprising to see the opportunities here given the economic and policy indicators.”

Uruguay, a country of just 3.5 million people sandwiched between giants Argentina and Brazil, is promoting investment options in a number of areas, with emphasis on agribusiness and renewable energy, and its capacity to be a new