Saudi business delegation explores investment in Portugal

A delegation of nearly 20 Saudi-linked businesses is visiting northern Portugal to explore investment and cooperation opportunities in strategic sectors, including healthcare, technology, industry, and innovation. Led by Alwalid Albaltan, the mission includes visits to institutions in Porto and Braga, such as the International Iberian Nanotechnology Laboratory (INL) and Católica Porto Business School.

As part of this initiative, four Portuguese companies—DigestAID, Ciberbit, ITGest, and NB Clinic—are set to sign memorandums of understanding with Saudi investors. These agreements focus on artificial intelligence, healthcare technology, IT systems, and aesthetic medicine. The deals aim to help the Portuguese firms establish local representation or begin operations in Riyadh without requiring Saudi investors to take equity stakes.

Notable participants include DigestAID, a University of Porto spin-off specializing in AI for gastrointestinal diagnosis, and ITGest, a provider of hospital monitoring systems. This visit is the third by a Saudi delegation to Portugal this year, part of a broader strategy by the Saudi Arabia–Portugal Business Council to foster long-term economic ties.