Saudi Arabia, Brazil ink energy collaboration deal  

Crown Prince Mohammed bin Salman and Brazil’s President Luiz Inacio Lula da Silva attended the agreement signing. SPA.
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Updated 29 November 2023
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Saudi Arabia, Brazil ink energy collaboration deal  

RIYADH: Energy collaboration between Saudi Arabia and Brazil is poised to strengthen after a key agreement was inked during the visit of the president of the South American country to the Kingdom.  

The deal aims to establish a comprehensive framework for cooperative efforts across various fields, including oil and gas, petrochemicals, and electricity. It will also cover renewable energy, hydrogen, energy efficiency, and the carbon cycle economy.  

According to the Saudi Ministry of Energy, Crown Prince Mohammed bin Salman and Brazil’s President Luiz Inacio Lula da Silva attended the agreement signing at the Al-Yamamah Palace in Riyadh. 

The deal was inked by Saudi Minister of Energy Prince Abdulaziz bin Salman and Brazilian Minister of Mining and Energy Alexandre Silveira. 

Following the signing, Silveira posted on his official X account that his country will develop important partnerships in energy, oil, gas, green hydrogen, and other areas. 

“We are attracting investments to the country, promoting economic and social development in Brazil, generating jobs, income and combating inequalities,” he said.

Speaking at the Brazil-Saudi Arabia Investment Forum, held in July at the Federation of Industries of the State of Sao Paulo, Saudi Minister of Investment Khalid Al-Faleh said that green energy and food security are two of the main sectors in which Saudi Arabia is interested in investing in Brazil. 

Al-Faleh cited finance, automotive, agriculture, transport and logistics as areas of interest, along with infrastructure, ecotourism and entertainment sectors. 

“With the evolution of the Global South coupled with shared values between Brazil and Saudi Arabia, aligned strategic interests and strong private sectors, which we have so much respect for, why couldn’t we become a top-five investor in each other’s economy?” he said at the time.

Brazilian exports to Saudi Arabia recorded robust growth in the first seven months of the year to reach $1.87 billion, the highest amongst all Arab countries, Emirates News Agency reported in August, citing data from the Arab-Brazilian Chamber of Commerce. 

Additionally, Brazilian imports from the Kingdom were the highest among Arab countries, standing at $1.98 billion. 


Saudization rates in marketing, sales professions announced

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Saudization rates in marketing, sales professions announced

RIYADH: Saudi Arabia’s Ministry of Human Resources and Social Development has announced the issuance of two decisions to increase Saudization rates in marketing and sales professions.

This comes as part of the ministry’s efforts to enhance the participation of national talent in the labor market, raise the level of Saudization in specialized professions, and provide stimulating and productive job opportunities for Saudi citizens across the Kingdom.

The first decision stipulates raising the Saudization rate to 60 percent in marketing professions in the private sector, effective Jan. 19, 2026. It applies to establishments with three or more employees in marketing professions, with a minimum wage of SR5,500 ($1,466). 

The targeted professions include: marketing manager, advertising agent, and advertising manager, as well as graphic designer, advertising designer, and public relations specialist. They also include advertising specialist and marketing specialist, as well as public relations manager and photographer.

The decision will be implemented three months after the announcement date to allow establishments sufficient time to prepare and implement it.

The second decision stipulates raising the Saudization rate to 60 percent in sales positions within the private sector, effective Jan. 19, 2026. This applies to establishments with three or more employees in sales roles, including: sales manager, retail sales representative, and wholesale sales representative as well as sales representative, IT and communications equipment sales specialist, and sales specialist. They also include a commercial specialist and a goods broker.

The decision will take effect three months after the announcement date to allow targeted establishments time to fulfill the requirements and achieve the Saudization target.

The entity clarified that private sector establishments will benefit from a package of incentives offered by the Ministry of Human Resources and Social Development, including support for recruitment, training and development, and employment, as well as job stability and priority access to Saudization support programs and programs of the Human Resources Development Fund.

The ministry also confirmed that its decision to raise Saudization rates in marketing and sales professions was based on analytical studies of labor market needs, in line with the number of job seekers in related specializations and the current and future requirements of the sales and marketing sectors.

It noted that implementing these decisions would enhance the attractiveness of the labor market, contribute to increasing quality job opportunities, and promote job stability for Saudi nationals.

The ministry further published the procedural guide for the two decisions on its website, which includes details of the targeted professions, the mechanisms for calculating Saudization rates, and the required compliance steps.

It urged all covered establishments to comply with the implementation to avoid penalties and to take advantage of the grace period provided for preparation and fulfillment of the requirements.