Saudi Arabia, Japan sign new agreements

Saudi and Japanese officials after the signing of MoUs and agreements. (SPA)
Updated 20 June 2019

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 deserves praise for best Hajj arrangements

Muslim pilgrims leave after offering noon prayers outside the Namirah mosque on Arafat Mountain, during the annual hajj pilgrimage, outside the holy city of Makkah, Saudi Arabia, Monday, Aug. 20, 2018. (AP)
Updated 26 January 2020

Saudi Arabia deserves praise for best Hajj arrangements

  • Presence of 2.6 million Indian expats in Saudi Arabia boosts bilateral ties

On the occasion of India’s 71st Republic Day, I extend my best wishes to my fellow Indian citizens in the western region of the Kingdom of Saudi Arabia.

India and Saudi Arabia enjoy cordial and friendly relations which reflect centuries-old economic and socio-cultural ties.
Visits by Prime Minister Narendra Modi to Saudi Arabia in April 2016 and in October 2019 plus the exchanges of other high-level visits have further strengthened the warm relations between the two countries.
As our prime minister said during his visit in October 2019, India would work hand-in-hand with Saudi Arabia on the Kingdom’s Vision 2030 plan.  
The presence of over 2.6 million Indian expatriates in the Kingdom has also contributed immensely to the strength of economic and socio-cultural ties between our two nations.
Bilateral trade delegations have also increased in the last few years. Indian business delegations are now a regular feature of trade exhibitions in Jeddah and other parts of the Kingdom. The Indian Consulate in Jeddah works tirelessly and diligently to provide the best possible service to Indian nationals residing in the western region of the Kingdom.
This good service includes reducing to three working days the length of time required for issuing/reissuing passports.
The introduction of an e-visa facility for Saudi nationals has further streamlined visa processing and provides a smooth first step for those wanting to visit India.
The Indian government and the people of India are grateful to King Salman, Crown Prince Mohammed bin Salman and Hajj Minister Dr. Mohammed Benten for making excellent arrangements during Hajj 2019. In that year, 200,000 Indian nationals performed Hajj and more than 650,000 Indians came for Umrah.
The Indian side remains committed to partnering closely with Saudi Arabia and working toward a very successful Hajj 2020.
We sincerely express our gratitude to King Salman, Crown Prince Mohammed bin Salman and the Saudi ministries of foreign affairs, labor, interior and the authorities of Jawazat, Tarheel and other concerned agencies who have always provided exemplary assistance to the consulate which has enabled the comfortable stay of the many Indians visiting, living, and working in the Kingdom.


• Md. Noor Rahman Sheikh is India’s consul general in Jeddah.