June 01, 2023
As Latin American countries have been moving to enhance their energy infrastructure and meet the needs brought by economic development, investors worldwide have been demonstrating their desire to explore the region’s new opportunities. Gulf nations, especially Saudi Arabia and the UAE, have been among the most promising partners in the region’s upcoming energy endeavors. The most recent announcement regarding Latin American-Middle Eastern energy partnerships was made last week, when Paraguayan authorities met with their Emirati counterparts and discussed the terms of a memorandum on economic cooperation. In January, during Abu Dhabi Sustainability Week, Paraguayan officials met with directors of the Abu Dhabi Fund for Development, who promised to fund — or at least lend money for — renewable energy projects in the South American country. In February, Saudi Minister of Economy and Planning Faisal Al-Ibrahim told Mexican magazine Expansion that investments in energy were part of the potential partnerships between the two countries.
Read the original article in Arab News: Gulf nations invest in Latin America energy projects