Saudi-Japan Business Collaboration
RIYADH — The Saudi-Japanese Joint Business Council convened in Riyadh, featuring key figures like Saudi Minister of Investment Khalid Al-Falih and Japan’s Minister of Economy, Trade, and Industry, Motoo Yuji. Over 80 company and entity representatives from both nations attended.
Japan’s delegation comprised industrial, commercial, and financial experts focusing on modern technologies for Saudi markets.
The meeting explored ways to bolster investment partnerships across sectors highlighted by the Saudi-Japanese Vision 2030.
Al-Falih emphasized the council’s role in enhancing bilateral ties and economic cooperation, with Vision 2030 as a strategic partnership catalyst.
He highlighted Saudi Arabia’s investment incentives, noting expanded collaboration in areas like renewable energy, automotive, biotechnology, AI, and more.
Japan’s minister underscored the private sector’s crucial role in supporting trade and economic relations, with promising prospects in shared vision sectors like industry and technology.
Walid Al-Arinaan, Federation of Saudi Chambers secretary-general, praised the joint vision for strengthening strategic partnerships, emphasizing the business council’s foundational role.
Tariq Al-Qahtani, council chairman, urged Japanese companies to leverage Saudi incentives, aligning with Japan’s strengths in advanced industries and education.
Japan stands as Saudi Arabia’s second-largest trading partner, with a trade exchange of $41.1 billion in 2023, favoring Saudi exports.
The Saudi-Japanese Vision 2030 targets growth in infrastructure, energy, investment, SMEs, healthcare, and entertainment, fostering significant economic agreements.