Portugal sees major investment openings in Saudi Arabia, economy minister says

Portugal’s Economy Minister Manuel Castro Almeida speaks during his visit to Riyadh, where he highlighted new investment opportunities between Portugal and Saudi Arabia. AN Phto
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Updated 24 November 2025
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Portugal sees major investment openings in Saudi Arabia, economy minister says

RIYADH: Portugal is looking to expand its economic presence in Saudi Arabia as Riyadh’s Vision 2030 reforms accelerate opportunities across energy, tourism, construction, and consumer sectors, the country’s Economy Minister Manuel Castro Almeida said. 

Speaking to Arab News in Riyadh, Castro Almeida said the scale of Saudi Arabia’s economic transformation is drawing growing interest from Portuguese companies seeking international expansion. “Vision 2030 is a very big opportunity for us,” he said, pointing to immediate prospects in home-related manufacturing, construction, infrastructure, agri-food, renewable energy, fashion, and tourism. 

The minister said ties between the two countries remain early but are only at the beginning of what Lisbon expects will develop into a long-term economic partnership. 

Energy opportunities  

Among the sectors highlighted by the minister, renewable energy stands out as one of the most promising pillars of future cooperation. Portugal ranks among Europe’s clean-energy leaders — fourth after Norway, Denmark, and Austria — and generated 75.2 percent of its electricity from renewable sources as of January 2025. 

Castro Almeida elaborated on Portugal’s aims to raise its leading percentage to 100 percent renewable energy in the upcoming years. “We have highly specialized human resources in renewable energy and energy efficiency,” Castro Almeida said. “There are many opportunities for Saudi investment in this field and Saudi capital is very welcome.” 

He added that Portuguese firms active in markets such as the US are also evaluating Saudi Arabia for expansion, supported by government incentives at home. 

The minister proceeded to encourage dialogue between companies as a means of pursuing a fruitful partnership in energy between Portugal and the Kingdom, stating: “The first dialogue must be between the enterprises. Once they see a viable opportunity, the government will support them fully.” 

Tourism and cultural sectors  

As the minister elaborated on the diverse sectors that guide investment and partnership between Portugal and Saudi Arabia, he underlined the tourism industry as a focal point of future collaboration — especially in terms of cultural exchange. 

“It is a field for good cooperation and training of people in tourism services from high levels… There are many opportunities in Portugal for investment by Saudi enterprises in tourism,” he added, after sharing that Portugal possesses highly specialized human capital with expertise in the tourism and hospitality sector. 

As tourism continues to bloom in the Kingdom, Portuguese cultural exchange takes many shapes, but at the forefront are the sports and fashion sectors. 

Castro Almeida took a moment to reflect on the power of sports in tourism as he recalled how Cristiano Ronaldo’s move to the Kingdom reshaped global attention: “The image of Saudi Arabia in Portugal, Europe, and all over the world has changed,” alluding to the Kingdom’s increased visibility on the global stage as a result of the footballer’s arrival.   

Likewise, fashion has operated as another ambitious tool of cultural exchange and investment between the two countries. The minister elaborated on the many “fashion capacities” that Portugal possesses, sharing that many luxury Portuguese products are expanding to the Kingdom following the visit, adding that “many of these brands are here for the first time.” 

One of the most crucial forces powering the momentum behind this partnership comes from a growing shift among Portuguese companies to explore opportunities in the Kingdom. As Riyadh continues to emerge and establish itself as a global business hub, Portuguese players have been keen on joining the diversifying capital’s economic landscape. 

As of January 2025, the Saudi-Portuguese Business Council at the Federation of Saudi Chambers in Lisbon has organized for over 250 Portuguese companies looking to invest in the Kingdom to be enrolled in a training program specialized in market entry.  

As these companies learn about foreign investor privileges in Saudi Arabia, their commitment to the market’s promising investment prospects underscores the fulfillment of Vision 2030’s headquarters mission.   

When asked about Portuguese companies’ transition into the Saudi market, Minister Castro Almeida explained that as of February, there are Portuguese agencies that help Portuguese enterprises invest in Saudi Arabia, stating: “We cooperate on the investments… In terms of bureaucracy and administrative difficulties, we help speed up the intentions of investment.”  

Minister Castro Almeida’s excitement for this visit is one without boundaries, as he hopes to tap into Portugal’s and the Kingdom’s diverse investment opportunities and industries. 

“I will be happy if we can increase our exports to Saudi Arabia and if we can receive Saudi investments… We are friends.”  

In reference to Portugal’s support for investment, the minister cited the decrease in taxes on profits of enterprises, adding: “The Portuguese government appreciates the investment, and we have nothing against the word profit.” 


Saudi Arabia looks to Swiss-led geospatial AI breakthroughs

Updated 12 December 2025
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Saudi Arabia looks to Swiss-led geospatial AI breakthroughs

  • IBM’s Zurich lab is shaping tools policymakers could use to protect ecosystems

ZURICH: For Gulf countries such as Saudi Arabia, AI-powered Earth observation is quickly becoming indispensable for anticipating climate risks, modeling extreme weather and protecting critical national infrastructure. 

That reality was on display inside IBM’s research lab in Zurich, where scientists are advancing geospatial AI and quantum technologies designed to help countries navigate a decade of accelerating environmental volatility.

The Zurich facility — one of IBM’s most sophisticated hubs for climate modeling, satellite analytics and quantum computing — provides a rare look into the scientific foundations shaping how nations interpret satellite imagery, track environmental change and construct long-term resilience strategies. 

Entrance to IBM Research Europe in Zurich (left); inside IBM’s hardware development lab, (top, right); and IBM’s Diamondback system. (AN Photos by Waad Hussain)

For Saudi Arabia, where climate adaptation, space technologies and data-driven policy align closely with Vision 2030 ambitions, the lessons emerging from this work resonate with growing urgency.

At the heart of the lab’s research is a shift in how satellite data is understood. While traditional space programs focused largely on engineering spacecraft and amassing imagery, researchers say the future lies in extracting meaning from those massive datasets. 

As Juan Bernabe-Moreno, director of IBM Research Europe for Ireland and the UK, notes, satellites ultimately “are gathering data,” but real impact only emerges when institutions can “make sense of that data” using geospatial foundation models.

r. Juan Bernabe Moreno, Director of IBM Research Europe for Ireland and the UK/(AN Photo by Waad Hussain)

These open-source models allow government agencies, researchers and local innovators to fine-tune Earth-observation AI for their own geography and environmental pressures. Their applications, Bernabe-Moreno explained, have already produced unexpected insights — identifying illegal dumping sites, measuring how mangrove plantations cool cities, and generating flood-risk maps “for places that don’t usually get floods, like Riyadh.”

The relevance for Saudi Arabia is clear. Coastal developments require precise environmental modeling; mangrove restoration along the Red Sea is a national priority under the Saudi Green Initiative; and cities such as Riyadh and Jeddah have recently faced severe rainfall that strained existing drainage systems. 

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The ability to simulate these events before they unfold could help authorities make better decisions about zoning, infrastructure and emergency planning. Today’s satellites, Bernabe-Moreno said, provide “an almost real-time picture of what is happening on Earth,” shifting the challenge from collecting data to interpreting it.

This push toward actionable intelligence also reflects a larger transformation in research culture. Major advances in Earth observation increasingly depend on open innovation — shared data, open-source tools and transparent models that allow global collaboration. “Open innovation in this field is key,” Bernabe-Moreno said, noting that NASA, ESA and IBM rely on openness to avoid the delays caused by lengthy IP negotiations.

Scientific posters inside IBM’s research facility showcasing decades of breakthroughs in atomic-scale imaging and nanotechnology. (AN Photo by Waad Hussain)

Saudi Arabia has already embraced this direction. Through SDAIA, KAUST and national partnerships, the Kingdom is moving from consuming global research to actively contributing to it. Open geospatial AI models, researchers argue, give Saudi developers the ability to build highly localized applications adapted to the region’s climate realities and economic priorities.

Beyond Earth observation, IBM’s Zurich lab is pushing forward in another strategic frontier: quantum computing. Though still in its early stages, quantum technology could reshape sectors from logistics and materials science to advanced environmental modeling. 

Alessandro Curioni, IBM Research VP for Europe and Africa and director of the Zurich lab, stressed that quantum’s value should not be judged by whether it produces artificial general intelligence. Rather, it should be viewed as a tool to expand human capability. 

 Dr. Alessandro Curioni, VP of IBM Research Europe and Africa & Director of IBM Research Zurich/ (AN Photo by Waad Hussain)

“The value of computing is not to create a second version of myself,” he said, “it’s to create an instrument that allows me to be super-human at the things I cannot do.”

Curioni sees quantum not as a replacement for classical computing but as an extension capable of solving problems too complex for traditional machines — from simulating fluid dynamics to optimizing vast, interdependent systems. But he cautioned that significant challenges remain, including the need for major advances in hardware stability and tight integration with classical systems. Once these layers mature, he said, “the sky is the limit.”

DID YOU KNOW?

• Modern satellites deliver near real-time views of Earth’s surface.

• Geospatial foundation models transform vast satellite datasets into clear, actionable insights.

• These tools can produce flood-risk maps for cities such as Riyadh, analyze how mangroves cool urban areas, and even detect illegal dumping sites.

Saudi Arabia’s investments in digital infrastructure, sovereign cloud systems and advanced research institutions position the Kingdom strongly for the quantum era when enterprise-ready systems begin to scale. Curioni noted that Saudi Arabia is already “moving in the right direction” on infrastructure, ecosystem development and talent — the three essentials he identifies for deep research collaboration.

His perspective underscores a broader shift underway: the Kingdom is building not only advanced AI applications but a scientific ecosystem capable of sustaining long-term innovation. National programs now include talent development, regulatory frameworks, high-performance computing, and strategic partnerships with global research centers. Researchers argue that this integrated approach distinguishes nations that merely adopt technology from those that ultimately lead it.

Inside IBM’s hardware development lab, where researchers prototype and test experimental computing components. (AN Photo by Waad Hussain)

For individuals as much as institutions, the message from Zurich is clear. As Curioni put it, those who resist new tools risk being outpaced by those who embrace them. Generative AI already handles tasks — from literature reviews to data processing — that once required days of manual analysis. “If you don’t adopt new technologies, you will be overtaken by those who do adopt them,” he said, adding that the goal is to use these tools “to make yourself better,” not to fear them.

From geospatial AI to emerging quantum platforms, the work underway at IBM’s Zurich lab reflects technologies that will increasingly inform national planning and environmental resilience. 

For a country like Saudi Arabia — balancing rapid development with climate uncertainty — such scientific insight may prove essential. As researchers in Switzerland design the tools of tomorrow, the Kingdom is already exploring how these breakthroughs can translate into sustainability, resilience and strategic advantage at home.