Riyadh, August 06, 2023,In a significant development, the Minister of Investment, Eng. Khalid Al-Falih, embarked on an official visit to the Argentine Republic. During this visit, a momentous event unfolded as Minister Al-Falih joined forces with his Argentinian counterpart, Minister of Foreign Affairs, International Trade, and Worship Santiago Andres Cafiero, to sign a memorandum of understanding. This memorandum aims to foster a collaborative environment that will stimulate direct investment between the Kingdom of Saudi Arabia and Argentina. During a recent meeting, Al-Falih and Cafiero engaged in discussions centered around the imperative task of fortifying bilateral relations and augmenting investments by means of private sector enterprises. Both parties underscored the urgency of enhancing investments in crucial sectors through the implementation of significant projects. In a recent development, the Saudi Minister of Investment has undertaken a comprehensive review of the ministry's pivotal role in attracting investments and fostering the growth of various sectors. This review encompasses a wide range of responsibilities, including the establishment of regulations and policies, enhancing access to services through strategic partnerships between the public and private sectors, and most notably, driving the ambitious social and economic transformation outlined in the Saudi Vision 2030. This move highlights the minister's commitment to ensuring a conducive environment for investment and propelling the nation towards its long-term goals. In a bold move, the ministry has taken a stance in favor of both Saudi and non-Saudi private sectors, aiming to foster their growth and facilitate their contributions to the economic development of the nation. By streamlining interactions with relevant authorities within the Kingdom and beyond, the ministry seeks to create an environment that is conducive to business and investment. During the Saudi delegation's visit to Latin American countries, a significant memorandum was reached.