Sat Nov 18 2017, 18:35:35 +03

Business Forum of Saudi-Japan Vision 2030 Concluded in Tokyo

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(Tokyo, Jumada II 16, 1438) The Business Forum of Saudi-Japan Vision 2030 concluded in Tokyo on the sidelines of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud's visit to Japan.

 

The forum is organized by the Saudi trade and investment bodies and the Japan Cooperation Center for the Middle East.

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According to Saudi Press Agency, the forum discussed ways of achieving the executive programs emanating from the Kingdom Vision 2030 and enhancing cooperation in implementing the initiatives in various fields in addition to discussing ways of enhancing volume of trade exchange and investment between the two friendly countries.

 

The Saudi trade and investment bodies represented by the Saudi General Authority for Investment provided a preview for the goals of the Kingdom Vision 2030 and investment opportunities in the fields of technology, communications, transportation, logistics, medical equipment and energy.

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On the sidelines of the forum, bilateral meetings with the Japanese giant companies were held. Investment agreements in the fields of investment, energy, manufacturing, technology and housing were exchanged by the private sectors of the two countries.

 

The Saudi General Authority for Investment granted Mitsubishi UFJ Financial Group a license to Mitsubishi Bank MUFG to work in the Kingdom whereby the bank can launch branches in the Kingdom to engage in banking, project finance and trade finance.

 

Japan Cooperation Center for the Middle East (JCCME) was granted a license to open economic and technical office to exchange experiences and studies. A joint cooperation agreement was signed between the Saudi Stock Exchange “Tadawul” and the Japan Exchange Group.

 

The Saudi National Industrial Complex Development Program and Toyota Company signed a memorandum of understanding for a joint feasibility study on local manufacturing of Toyota auto and spare parts in the Kingdom. Abdul Latif Jameel and Saiberdin Company signed a contract of commercial partnership.

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The Saudi Aramco and the Japan Nippon Foundation for oil and energy signed an agreement to conduct studies to explore future cooperation with mutual benefit in the fields of oil, petrochemicals, oil trade, environmental technologies and training programs. The Saudi Aramco also signed a number of agreements with Yokogawa Corporation for Electric and Electronic Engineering to cooperate in achieving the Kingdom Vision 2030.

 

A number of agreements between the two sides in the fields of space science and technology, electricity and desalination were also signed.