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Saudi Arabia Sign Over 30 MoUs With Japan at Vision 2030 Forum

Saudi Arabia and Japan are working to consolidate their cooperation in the energy, manufacturing and finance sectors.

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Saudi Arabia Sign Over 30 MoUs With Japan at Vision 2030 Forum

The governments of Saudi Arabia and Japan have signed over 30 memorandums of understanding, covering multiple fields including but not limited to energy, manufacturing and finance. The agreements were signed at the Saudi Arabia-Japan Vision 2030 Business Forum in Tokyo. 

More than 300 Saudi and Japanese business people, industry leaders and government officials participated in the forum, aiming to boost bilateral trade, investment and cultural ties. 

The Saudi Ministers of Energy and Investment were among those who addressed the forum. The latter declared in his address that Saudi Arabia’s non-oil income has doubled and is looking for an accumulated investment of USD 3 trillion. He made it clear that this could be a huge opportunity for Japanese stakeholders. 

Future plans for further collaboration with Japan were also outlined at the forum by the Ministry of Investment for International Partnerships. The Japanese Minister of Industry commented that Saudi Arabia is the largest supplier of crude oil to Japan, and one of their most important partners in regards to energy security.

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