Arab News, Mon, Jan 13, 2025 | Rajab 13, 1446
Saudi Arabia, Japan strengthen investment ties with strategic MoU
Saudi Arabia:
The Saudi Investment Promotion Authority on
Monday signed a memorandum of understanding with Japan’s Mizuho Bank Ltd. in an
effort to enhance investment opportunities between the two countries.
The MoU was signed by Assistant Minister of
Investment Ibrahim bin Yousef Al-Mubarak and bank CEO Masahiko Kato.
The agreement means the Saudi Investment Promotion
Authority will provide its expertise and information to help integrate support
services to Japanese companies interested in investing in the Kingdom, according
to the Saudi Press Agency.
The memorandum comes within the Vision 2030
framework, which aims to diversify the national economy by attracting foreign
investments, supporting economic partnerships with international companies,
strengthening bilateral investment relations and long-term partnerships, and
opening new qualitative areas for cooperation in the investment and economic
fields.
On Sunday, the Saudi Japanese Joint Business
Council Meeting convened in Riyadh with Minister of Investment Khalid Al-Falih
and Japanese Minister of Economy, Trade and Industry Muto Yoji.
Attending the meeting were more than 80
representatives of companies and entities from both nations.
The Japanese delegation included those from
industrial and commercial companies, as well as financial institutions focusing
on modern technologies with an interest in the Saudi market.