Saudi Arabia, Japan sign new agreements

Saudi and Japanese officials after the signing of MoUs and agreements. (SPA)
Updated 20 June 2019
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Saudi Arabia, Japan sign new agreements

  • Japan is the Kingdom’s second-biggest source of foreign capital and its third-largest commercial partner

RIYADH: The Saudi Arabian General Investment Authority (SAGIA) announced the signing of memorandums of understanding (MoUs) and agreements, along with the handing of permits to Japanese corporations to work in the Kingdom.

The announcements were made on the sidelines of the Saudi-Japan Vision 2030 Business Forum in Tokyo.

“The signed agreements covered various strategic fields such as financing, education, industry and manufacturing,” SAGIA said.

“This comes as part of the Vision 2030 goal to create investment opportunities in the Kingdom.”

SAGIA’s Gov. Ibrahim Al-Omar said: “The signing of these agreements highlights the Kingdom’s openness to attract foreign investment.”

He added: “Japan is one of the Kingdom’s key economic partners. This partnership can become broader in light of the Kingdom’s economic reforms and constant progress in the business sector.”

The signed agreements included one between SAGIA, Mitsubishi UFJ Financial Group and Mizuho Bank to discuss the Kingdom’s investment opportunities.

Another agreement was signed between SABIC and Yokogawa Electric Co. to establish a local franchise. An MoU was signed between King Faisal University and the National University of Oita. Another one was signed between the Saudi Industrial Development Fund and Sumitomo Mitsui Banking Corp. to finance opportunities and develop human capital.

The forum, co-hosted by SAGIA and the Japan External Trade Organization, saw the participation of more than 300 representatives of government bodies and corporations, as well as investors and business people from both countries.

Japan is the Kingdom’s second-biggest source of foreign capital and its third-largest commercial partner.


Saudi Arabia’s crown prince receives Yemeni prime minister in Riyadh

Updated 23 July 2019
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Saudi Arabia’s crown prince receives Yemeni prime minister in Riyadh

  • During the meeting, they reviewed the latest developments on the Yemeni conflict
  • Efforts exerted by both sides to ensure the security, stability and development of Yemen were also discussed

RIYADH: Saudi Arabia’s Crown Prince Mohammed bin Salman met with Yemeni prime minister Dr. Moeen Abdulmalik in Riyadh on Tuesday.
During the meeting, they reviewed the latest developments on the Yemeni conflict and efforts exerted by both sides to ensure the security, stability and development of Yemen.
The meeting was also attended by Prince Khalid bin Salman, Deputy Minister of Defense as well as Head of General Intelligence Khalid Al-Humaidan and the Ambassador of Saudi Arabia in Yemen.