Crown prince, Iraqi PM hold talks in Riyadh

Crown Prince Mohammed bin Salman meets Iraqi Prime Minister Adel Abdul Mahdi in Riyadh. (SPA)
Updated 18 April 2019

Crown prince, Iraqi PM hold talks in Riyadh

RIYADH: Crown Prince Mohammed bin Salman met with Iraqi Prime Minister Adel Abdul Mahdi at Al-Yamamah Palace in Riyadh on Wednesday.

They discussed Saudi-Iraqi relations and issues of mutual interest, after which they held official talks in the presence of delegations from both countries.

The crown prince commended the distinguished relations between the two countries, while Abdul Mahdi expressed his happiness at visiting Saudi Arabia and meeting with the king and crown prince.

During the official talks, they reviewed bilateral relations and cooperation, as well as the latest regional developments.

Earlier, Abdul Mahdi held talks with King Salman, who said he was keen to enhance cooperation between Iraq and Saudi Arabia. Abdul Mahdi said he was hoping to develop “areas of bilateral cooperation.” 

In a statement on his Facebook account, he said his visit to Saudi Arabia “symbolizes the Iraqi government’s vision in aiming to bolster ties with the Kingdom in all fields.”

The two countries signed 12 agreements and memorandums of understanding between their various ministries, covering many areas including energy, education, culture and political consultations.

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

Updated 18 June 2019

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.