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

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More than 300 officials took part in the gathering. (SPA)
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Japan is the Kingdom’s second-largest source of foreign capital and third-biggest trading partner
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.


Tolerance key to promoting inclusive society: EU envoy

Updated 17 October 2019

Tolerance key to promoting inclusive society: EU envoy

  • Intellectuals, diplomats discuss challenge of blending cultures, faiths and values

RIYADH/JEDDAH: The European envoy to Saudi Arabia on Wednesday called for more tolerance and respect to help bring diverse societies closer together.

Ambassador Michele Cervone d’Urso, head of the EU delegation to the Kingdom, made his appeal as he welcomed attendees to a high-profile lecture to discuss Saudi and European perspectives on religious tolerance and diversity.

Organized by the King Faisal Center for Research and Islamic Studies (KFCRIS), the event gathered together top intellectuals, diplomats and scholars to debate the issues of tolerance, forgiveness and acceptance of others.

Opening the lecture at the King Faisal Foundation building in Riyadh, d’Urso spoke about tolerance and how it was core to the transformation of societies, especially in Europe which had become more diverse.

“Today’s European society is a mixture of cultures, faiths, values, ideas, and habits. The challenge is to make sure our society is more inclusive, enhance mutual understanding and promote tolerance and respect,” the envoy said.

He pointed to the UN’s blossoming partnership with the KFCRIS and the importance of the lecture as key building blocks in the process of bridging cultural and religious gaps between societies.

“I think there are few more teams that are exchanging on the Saudi and European perspectives of religious tolerance and diversity. All of us know that the KFCRIS builds from the legacy of the late King Faisal and has been a pillar in promoting Islam,” d’Urso added.

HIGHLIGHTS

  • Ambassador Michele Cervone d’Urso, head of the EU delegation to the Kingdom, made his appeal as he welcomed attendees to a high-profile lecture to discuss Saudi and European perspectives on religious tolerance and diversity.
  • Dr. Mohammed bin Abdulkarim Al-Issa, secretary-general of the Muslim World League (MWL), told delegates that when he talked about tolerance in Islam, he also meant tolerance in Saudi Arabia as a state that applied and was governed by Shariah law.
  • The director of the European Network Against Racism (ENAR), Dr. Michael Privot, who converted to Islam 26 years ago, spoke about how the EU was characterized by increasing diversity, including religious and philosophical beliefs, even from the Muslim perspective.

He noted that in Europe there were many people of faith that had respect for coexistence. 

Dr. Mohammed bin Abdulkarim Al-Issa, secretary-general of the Muslim World League (MWL), told delegates that when he talked about tolerance in Islam, he also meant tolerance in Saudi Arabia as a state that applied and was governed by Shariah law.

He said a state that respected others, human existence and brotherhood could not exist “unless there is respect for diversity and differences as a universal norm that no one can collide.”

According to Al-Issa, the Charter of Madinah (regarded as the first Islamic state constitution) was considered one of the best achievements of civil legislation in human history. “This document was held by the Prophet Muhammad, peace be upon him, with the Jews and represented binding legislation for Muslims toward religious minorities.”

The MWL chief noted that the document included the protection of civil and religious rights. “The document cannot be absorbed by extremism, it is clear. These rights and freedoms have been preserved by this legislation. And the Prophet Muhammad coexisted with everyone and understood these differences and diversity.”

In his speech, Al-Issa explained how the Qur’an gave Jews and Christians a special name to celebrate their religious origins where they were called “people of the book,” in reference to the Torah and the Gospel. The history of Christians and Jews was also never omitted.

Addressing the event, director of the European Network Against Racism (ENAR), Dr. Michael Privot, who converted to Islam 26 years ago, spoke about how the EU was characterized by increasing diversity, including religious and philosophical beliefs, even from the Muslim perspective.

“We encounter such a diversity of ways of being Muslim from a theoretical, cultural, philosophical, ideological point of view. Any single Muslim group or community is represented somewhere in Europe and this situation puts European Muslims in a very unique environment which is different from any other Islamic majority society in the world,” said Privot.

He pointed out that for the first time in history Muslim groups from Uzbekistan and Senegal were living together and trying to become a community in European societies.

“Societies, which have completely liberalized the market of religions, believe all faiths are accepted,” he added.

Earlier on Monday, an MWL forum in Makkah recommended that Islamic discourse should adhere to the principles of the Qur’an and Sunnah, the Muslims’ uppermost legislative sources, which are also known as the Two Divine Revelations.

The forum, titled “The Service of the Two Revelations,” called upon concerned authorities in the Muslim world to regulate Islamic fatwas in a way that prevented extremism and stopped producing any misguided explanations of the divinely revealed texts.

The participants also encouraged the use of modern technology, especially social media, to better serve the Qur’an and Sunnah to help link Muslim youths with the two revelations.

In addition, the gathering proposed establishing platforms for producing software and smart apps related to the Qur’an and Sunnah and the launch of an international service award under the umbrella of the MWL.

Al-Issa added that the MWL had staged a number of Qur’an memorization programs in 78 countries and said there were now 68 colleges and institutes where 7,500 students were studying the Qur’an.

“Some 61,275 Qur’an readers have graduated from these institutes, with 5,055 reciters having obtained authentic reading certificates. The IOQAS (International Organization of Qitab and Sunnah) has also carried out 193 training courses and provided nearly 3,000 scholarships,” he said.