Saudi Gazette report

TOKYO — Saudi Arabia and Japan signed more than 30 memorandums of understanding (MoUs) in the fields of energy, manufacturing, and financial activities. The pacts were inked on the sidelines of the Saudi Arabia -Japan Vision 2030 Business Forum in Tokyo on Tuesday.

Minister of Energy Prince Abdulaziz bin Salman and Minister of Investment Khalid Al-Falih were among those who addressed the forum. In his address, Al-Falih said that Saudi Arabia’s non-oil income has doubled and is looking for an accumulated investment of over $3 trillion. He noted that this offers big opportunities for Japanese stakeholders.

In her speech, Sara Al-Sayed, deputy minister of investment for international partnerships, outlined Saudi Arabia’s plans for further collaboration with Japan. “Under the Saudi-Japan Vision 2030, we aim to take this partnership to a new level,” she said.

Saudi Minister of Information Technology and Communication Abdullah Al-Swaha spoke at the “Digital Entertainment Roundtable” held as part of the forum. More than 300 Saudi and Japanese business and industry leaders and government officials are participating in the forum, which aims to boost bilateral trade, investment and cultural ties.

During the business forum, Japanese Minister of Industry Ken Saito met with senior Saudi officials, including Minister of Energy Prince Abdulaziz bin Salman and Minister of Investment Khalid Al-Falih, as well as senior executives of Saudi Aramco and other major Saudi companies. Speaking on the occasion, Ken Saito said that Saudi Arabia is the largest supplier of crude oil to Japan, and one of the most important partners with regard to energy security.