RIYADH — Saudi Arabia's Ministry of Investment and Japan's Ministry of Economy, Trade, and Industry virtually co-organized on Tuesday the fifth ministerial meeting as part of the Saudi-Japanese Vision 2030 in the presence of Saudi Minister of Investment Khalid Al-Falih, Japan's Minister of Economy, Trade, and Industry Kajiyama Hiroshi, Japan's minister of state for foreign affairs and a number of officials of the two governments.

During the meeting, Al-Falih delivered a speech in which he indicated that the ministerial meeting represents a major step of the historical relations between the two countries, stressing commitment to the next phase of Saudi Arabia and Japan 2030 Vision. He affirmed that Japan is one of the Kingdom's closest and oldest economic partners.

He added that the Kingdom has embarked on a national transformation journey led by the Kingdom Vision 2030, stressing that foreign investment will play an important role in this process. He pointed out the full commitment to enable the Japanese investors in order to expand their business in the Kingdom and explore large investment opportunities.

The ministers appreciated the efforts made by the two countries to achieve progress to achieve the project of the Saudi-Japanese Vision 2030, affirming their continued commitment to the partnership between the two countries and the importance of exploring new ways of cooperation that would mitigate the repercussions of the "COVID-19" pandemic.

The "Saudi-Japanese Vision 2030", which was launched in 2017, represents the nucleus of a permanent strategic partnership between Japan and the Kingdom.

For his part, the Japanese economy minister said that "it is important to develop joint aspects of cooperation in order to meet societal challenges such as carbon neutrality and water management, through cooperation projects."

Meanwhile, the activities of the Saudi-Japanese Vision 2030 business forum will be launched on Wednesday. — SG