‘Portugal is gold’, says Saudi business leader

With Portugal featuring on so many foreigners’ horizons, Saudi-Portuguese Business Council chief, Alwalid Albaltan, has been giving his impression of the country, and what investors are looking for.

In a nutshell, he urges faster routes to major projects (something the PM has already said is being dealt with).

Stand-out major projects include housing, green energy, infrastructure and AI.

In interview with Executive Digest, Albaltan stressed that Saudi investors are ready to commit more capital to Portugal, but bureaucratic hurdles and limited access to key decision-makers are slowing investment opportunities.

Listing the ‘attractions’ of Portugal, Albaltan highlighted ‘political stability, strong technical expertise and an ability to deliver complex projects’

Saudi investors target housing, renewable energy and AI

Albaltan recently returned to Portugal for a series of meetings in Lisbon and Porto with business organisations, industry associations and institutions including the Portuguese Chamber of Commerce and Industry, AEP, ANJE and AIMMAP.

He said Saudi investors are increasingly attracted to Portugal’s housing market, renewable energy sector, infrastructure projects and fast-growing technology industries, particularly artificial intelligence.

“Portugal has recognised expertise in these areas combined with an execution capability that Saudi investors value highly,” he said.

Industrial technology, construction, healthcare and advanced materials are also attracting growing interest – reflecting what Albaltan described as Portugal’s broader economic potential.

Calls for less bureaucracy

But despite the strong interest, Albaltan warned that accessing information about large-scale investment projects remains difficult for foreign investors.

He argued that streamlining administrative procedures and creating clearer links between investors, municipalities, business organisations and government agencies would accelerate project development and help attract more foreign direct investment.

“The more efficient this process becomes, the faster we will see real investment reaching regional and national projects,” he said.

Albaltan added that institutional bridge-building has become a central part of the council’s strategy, helping investors navigate Portugal’s regulatory and business environment.

Economic ties entering a new phase

Albaltan believes economic relations between Portugal and Saudi Arabia are entering a period of consolidation after years of relationship-building.

The business council now has more than 70 members and has organised multiple trade missions designed to attract Saudi investment to Portugal while helping Portuguese companies expand into the Gulf kingdom.

He pointed to the opening of an ANJE (national association of young businesspeople) office in Saudi Arabia and the presence of AICEP (Portugal’s global trade and investment agency) representatives in the country as evidence that commercial links are strengthening in both directions.

“As Saudi investors look increasingly at Portugal, Portuguese companies are also beginning to see Saudi Arabia as a market with the scale they need for expansion,” he said. This was particularly clear during a working visit to Saudi Arabia by the Minister of Economy, alongside Portuguese business leaders, a few months ago.

Opportunities linked to Saudi mega-projects

Looking ahead, Albaltan said Saudi Arabia’s preparations for major international events — including Expo 2030 Riyadh and the 2034 FIFA World Cup — will create significant demand for infrastructure, services and specialist expertise.

He believes Portuguese companies are well placed to benefit from those opportunities if they establish a presence early.

“We expect the relationship to become increasingly solid, with projects materialising in both countries,” he said.

Albaltan also confirmed ambitions for larger-scale Saudi investments in Portugal, revealing that his group has already opened its first Portuguese company, SDCI (standing for Strategic Deals Company for Investment).

“On our side, there is a great deal of willingness to make things happen,” he said.

His message to Portuguese policymakers is equally clear: investor appetite exists, capital is available, and the next step is ensuring faster and more direct access to opportunities.

For Saudi investors, he concluded the interview, “Portugal is gold.”

Source: Executive Digest