The Brazilian company JBS, which is the world’s largest producer of chicken and meat, plans to establish a meat and poultry farm in the Qassim region with investments that could exceed $2 billion.
Wesley Batista, Chairman of JBS Economic Company, stated that Saudi Arabia is one of the largest markets for meat and poultry consumption in the Middle East region.
He indicated that the planned factory to be established within the farm will not only serve the Saudi market but also export a portion of the production to neighboring markets.
It is worth mentioning that the Brazilian company has expanded its operations across 6 continents and its products reach over 100 countries. According to the economic newspaper, its net income in the third quarter of 2023 reached around 116 million US dollars.
Within the framework of the incentives received by foreign companies to invest in Saudi Arabia, Batista confirmed that they have received many incentives to support their entry into the Saudi market and facilitate it.
He explained that he has had several discussions with a number of Saudi officials, including Khalid Al-Falih, the Saudi Minister of Investment, on the sidelines of the World Economic Forum in Davos to explore new opportunities and the quality of these incentives.
