Crown Prince Mohammed bin Salman to meet Macron in Paris soon: Al-Jubeir

Crown Prince Mohammed bin Salman
Updated 06 January 2018
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Crown Prince Mohammed bin Salman to meet Macron in Paris soon: Al-Jubeir

PARIS: Crown Prince Mohammed bin Salman will travel to Paris to meet French President Emmanuel Macron around the end of February or early March, Saudi Foreign Minister Adel Al-Jubeir told French TV CNEWS.
Asked if Prince Mohammed would be visiting Paris, Al-Jubeir said: “Yes, God willing. He received an invitation from President Emmanuel Macron. We’re thinking about an end February-early March date.”
He said the exact date had not been finalized yet but would be decided upon in the coming weeks. Al-Jubeir’s comments were broadcast via a French translation.
Prince Mohammed is leading sweeping economic and social reforms intended to remodel the world’s top oil exporter and biggest Arab economy into a modern state no longer dependent on petroleum. These include the planned the sale of five percent of state oil giant Saudi Aramco, which could be the biggest IPO in history.


High-level investment forum aims to further boost business between Saudi Arabia and Japan

Updated 18 June 2019
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High-level investment forum aims to further boost business between Saudi Arabia and Japan

  • Japan is one of Saudi Arabia’s most important economic partners

TOKYO: More than 300 government, investment and industry leaders on Monday took part in a high-level gathering aimed at further boosting business opportunities between Saudi Arabia and Japan.

The Saudi Arabian General Investment Authority (SAGIA) welcomed key figures from the public and private sectors to the Saudi-Japan Vision 2030 Business Forum, held in Tokyo.

Hosted in partnership with the Japan External Trade Organization (JETRO), the conference focused on the creation of investment opportunities in strategic sectors of the Kingdom. Delegates also discussed key reforms currently underway to enable easier market access for foreign companies.

Speaking at the event, Saudi Economy and Planning Minister Mohammed Al-Tuwaijri, said: “Today’s forum is a testimony to the success of the strategic direction set by the Saudi-Japanese Vision 2030 two years ago, which seeks to drive private-sector involvement, both by partnering with public-sector entities.”

SAGIA Gov. Ibrahim Al-Omar said: “At SAGIA, we have been working on creating a more attractive and favorable business environment in Saudi Arabia, which is making it easier for foreign companies to access opportunities in the Kingdom.”

Japan is one of Saudi Arabia’s most important economic partners. It is the Kingdom’s second-largest source of foreign capital and third-biggest trading partner, with total trade exceeding $39 billion.

JETRO president, Yasushi Akahoshi, said: “Saudi-Japan Vision 2030 has made great progress since it was first announced. Under this strategic initiative, the number of cooperative projects between our two countries has nearly doubled, from 31 to 61, and represents a diverse range of sectors and stakeholders.”

Since 2016, the Saudi government has delivered 45 percent of more than 500 planned reforms, including the introduction of 100 percent foreign ownership rights, enhancing legal infrastructure and offering greater protection for shareholders.

As a result, the Kingdom has climbed international competitiveness and ease-of-doing-business rankings, with foreign direct investment inflows increasing by 127 percent in 2018 and the number of new companies entering Saudi Arabia rising by 70 percent on a year-on-year basis in the first quarter of 2019.