Saudi, Japan Strengthen Ties at Vision 2030 Business Forum in Tokyo

24 May, 2024

Saudi, Japan Strengthen Ties at Vision 2030 Business Forum in Tokyo

The Saudi Arabia-Japan Vision 2030 Business Forum took place in Tokyo, bringing together over 300 industry leaders to discuss enhancing trade, investment, and cultural ties. In her keynote speech, Sara Al-Sayed, Saudi Arabia’s deputy minister of international partnerships at the Ministry of Investment, emphasized plans for deepening collaboration between the two nations. She highlighted the potential for leveraging mutual strengths to drive sustainable economic growth, technological innovation, and cultural exchange. Al-Sayed noted the significant increase in Japanese companies establishing operations in Saudi Arabia over the past decade and expressed optimism that the forum would catalyze further investment and growth.

Saudi Arabia’s Minister of Investment Khalid Al-Falih, Minister of Energy Prince Abdulaziz bin Salman Al Saud, and Japan’s Minister of Economy, Trade and Industry SAITO Ken attended the forum, delivering speeches that underscored the robust relationship between the two countries. Saito affirmed Japan's commitment to supporting business expansion with Saudi Arabia, while Prince Abdulaziz emphasized the Kingdom’s dedication to collaborative efforts in energy and national transition processes.

Al-Falih highlighted Saudi Arabia’s doubling non-oil income and the potential for substantial investment opportunities, particularly as the Kingdom prepares to host Expo 2030, the Winter Olympics in NEOM, and the World Cup 2034. Sessions at the forum covered topics such as manufacturing collaboration, sustainability, circular economy, entertainment, gaming industries, and healthcare cooperation. A notable highlight was the "Digital Entertainment Roundtable," focusing on Saudi Arabia's burgeoning gaming industry, which is set to grow significantly, with 58 gaming companies currently operating and major events like the Esports World Cup boosting the sector.

The forum showcased Saudi Arabia's commitment to strengthening its partnership with Japan, leveraging Japanese expertise and technology to enhance various industries and promote economic growth. The discussions and sessions aimed at reinforcing ties, exploring new opportunities, and setting the stage for future collaborations, particularly in the digital and entertainment sectors.