RIYADH — The Saudi Arabian General Investment Authority (SAGIA) hosted more than 20 Japanese businessmen for an investment meeting last Monday to discuss opportunities under Vision 2030, and the efforts underway to enhance Saudi Arabia’s business environment in cooperation with other governmental authorities under the “Tayseer” campaign.

The meeting to discuss how to pave the way for greater Japanese investment comes as SAGIA has recently stepped up its engagement with investors to highlight opportunities in the Kingdom to attract foreign investments to meet the aspirations of Vision 2030.

Both Japan and Saudi Arabia have taken steps to strengthen bilateral ties in recent months, an effort which was given a boost by the visit of the Custodian of the Two Holy Mosques King Salman to Japan last March. SAGIA also granted the Japan External Trade Organization (JETRO) a license to open an economic and technical representation office during the visit of the Minister of Commerce and Investment Dr. Majid Bin Abdullah Al-Kassabi to Tokyo in September last year.

Speaking about the meeting, Eng. Ibrahim Al Omar, Governor of SAGIA, said: “At SAGIA, we are delighted to host a delegation of leading Japanese companies and their representatives from various sectors. Saudi Arabia has enjoyed a strong relationship with Japan spanning over six decades that has included a robust trade and investment relationship across many industries. As the third largest economy in the world and home to many corporate household names, Japan is indeed a strategic investment partner. SAGIA is committed to building upon our existing ties with Japanese investors to support both Saudi Arabia's Vision 2030 and the National Transformation Program to diversify the economy, attract more investments, and create more job opportunities for Saudi nationals.”

SAGIA similarly hosted a delegation of more than 50 representatives and businessmen from Chinese companies in SAGIA headquarters in Riyadh last Thursday, a reflection of the growing opportunity to attract investment from East Asia. — SG