Search form

Last updated: 2 min 15 sec ago

You are here

Saudi Arabia

King’s visit to Asia enhances KSA’s leading role in Mideast economies, say experts

Saudi Arabia's King Salman bin Abdulaziz al-Saud (L) is escorted by Japan's Prime Minister Shinzo Abe (R) during a banquet at Abe's official residence in Tokyo on Monday. (AFP)

RIYADH: The visit of King Salman to Japan and China will enhance the leading role of the Kingdom in the economies of the Middle East and Arab countries, economists and businessmen told local media.
They said the visit represents a historic shift of the Kingdom’s accession to one of the fastest growing economies in the world.
They expected the visit would witness the signing of investment and strategic deals supportive of Vision 2030.
Businessman Mohammed Hasan Yusuf said the king’s visit to China and Japan would bolster the economic dimension and further enhance the Kingdom’s economic leadership in the region.
He said the visit also carries political and social dimensions that will allow decision-makers to study the needs of Saudi knowledge-seekers and scholarship students.
Osama Mulla, acting secretary general of General Union of Car Drivers, said the visit would play a key role in strengthening Kingdom’s relations with Japan and China.
He said the announcement of Toyota to establish a car plant in the Kingdom, which coincides with the start of king’s visit to Japan, is a big step in the localization of the car industry that will have a positive impact on the transport sector in the Kingdom.
Abdullah Dahlan said the king’s visit to China, Japan, Malaysia and Indonesia is a chance to speed up Vision 2030 and to benefit from international experiences.
The historic visit aims to strengthen Vision 2030 and promote Saudi investments through the establishment of the biggest sovereign investment fund in the world, he said.
Economist Saifullah Mohammed Sharbatalli said the king’s visit reflects enormous eagerness to realize the objectives of Vision 2030, which focuses on opening new markets for Saudi products, and building partnerships with big countries. “We cannot ignore the weight of China and Japan at the international and global levels,” he said.
He said Vision 2030 will contribute to more openings to the world, and lead to the signing of agreements between the Kingdom and the countries visited in a manner that will positively affect the growth of the Saudi economy and globally enhance its position.
Abdullah Ahmed Al-Maghlouth, a member of the Saudi Economic Association, said the King’s visit to China is proof that Saudis are aspiring toward Chinese investments and experiences in a manner that will help them achieve Vision 2030.

MORE FROM Saudi Arabia