Saudi Arabia and Japan aim to boost their economic ties after signing 14 agreements in sectors such as water, energy, finance, healthcare, telecoms, and industry.
This intent was shared at the Saudi-Japanese Investment Forum 2023 in Riyadh, where Saudi Investment Minister Engineer Khalid al-Falih highlighted plans for over 12 trillion Riyals in investments to fulfill ‘Vision 2030’ goals.
Saudi-Japanese Investment Forum Overview
Khaled Al-Falih, Minister of Investment, participated today in the Saudi-Japanese Investment Forum. The forum was attended by more than 45 major Japanese companies, and more than 400 representatives from the public and private sectors in both countries.
Investment Goals, Market Growth
Initially, Minister of Investment Khaled Al-Falih said that Saudi Arabia aims to attract $3 trillion in investments by 2030. He anticipates growth in the Saudi financial market, with opportunities worth 1.7 trillion Riyals.
Consequently, this growth will create new opportunities for the Japanese financial sector in the Kingdom.
Strategic Investments, Future Goals
Furthermore, in his speech at the Saudi-Japanese Investment Forum, Al-Falih revealed plans to invest up to $600 billion in the petrochemical sector by 2030.
Therefore, Saudi Arabia’s investment target would exceed $3 trillion by 2030, aiming to become the world’s leading producer of clean hydrogen.
Key Sectors, International Partnerships
Moreover, Al-Falih highlighted that the forum will be graced the announcement of 14 agreements between Saudi and Japanese companies.
These agreements span sectors such as water, telecommunications, information technology, energy, financial services, and healthcare.
National Water Company, Fuji Clean Collaborate in Saudi Arabia
Its worthy to mention that the Kingdom’s National Water Company signed a memorandum of understanding with Fuji Clean, a globally leading Japanese company in the field of manufacturing sewage treatment systems, to localize water treatment technologies in Saudi Arabia.”
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