Friday 24 January 2025
 
»
 
»
Story

Saudi, Japan extend private sector collaboration

RIYADH, December 17, 2020

Saudi Arabia’s Ministry of Investment has furthered the kingdom’s private sector collaboration with Japan at the fifth Saudi-Japan Vision 2030 Business Forum, which took place virtually in Riyadh and Tokyo on December 16 and 17.

The event was held in partnership with the Saudi-Japan Vision Office, Japan External Trade Organization (JETRO) and Japan’s Ministry of Economy, Trade and Industry under the Saudi-Japan Vision 2030 umbrella. This year’s edition brought together over 300 Saudi and Japanese private sector and government leaders to explore the emerging business opportunities in the Kingdom’s tourism and entrepreneurship sectors.

The event also showcased the initiatives launched in Saudi Arabia to provide SMEs and start-ups with the skills, resources and funding to succeed in key growth industries such as travel and tourism.

Speaking at the forum, Khalid Al Falih, Minister of Investment of Saudi Arabia, said: “Saudi Arabia is adapting its transformation strategy to ensure growth in the changing global economy and attract partnerships and investments that meet our needs in this new environment. Through our historic partnership with Japan, we have identified tourism and entertainment and start-ups as leading enablers of post-Covid-19 economic growth and innovation. Both are nascent yet rapidly developing sectors in the Kingdom that offer significant investment and capacity building potential to Saudi and Japanese entrepreneurs and businesses of all sizes.”

A total of 14 memoranda of cooperation (MoC) were signed across diverse sectors, in a sign of deepening ties between Saudi and Japanese organizations on technological and human capital development in critical sectors of the future such as healthcare, energy and ICT.

These include agreements between Abdul Latif Jameel Enterprises and the Japanese Organization for Medical Device Development for the training of medical professionals and Castalia Co and Advanced Idea to introduce programming education for Saudi students.

Kajiyama Hiroshi, Japan’s Minister of Economy, Trade and Industry said: “The relationship between Japan and Saudi Arabia is now more strategic than ever, and the Saudi-Japan Vision 2030 since its launch in 2017 has been leading successful projects in several fields such as health and small businesses. Since July, MISA’s Japan office has been very active towards achieving this vision.” – TradeArabia News Service




Tags:

More Finance & Capital Market Stories

calendarCalendar of Events

Ads