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 environmental art exhibition opens in Jeddah

Updated 28 January 2020

Saudi environmental art exhibition opens in Jeddah

JEDDAH: A Saudi art exhibition highlighting environmental concerns on Tuesday opened in Jeddah.

Organized by the Saudi Art Council with the support of the Ministry of Culture, the seventh edition of 21,39 Jeddah Arts will run until April 18 under the title, “I Love You, Urgently.”

The central theme of the exhibition will examine pressing issues related to the natural world, global climate change and environmental sustainability through a series of individual artistic explorations.

The event will include a range of artistic, cultural and social activities held throughout the city including multiple art exhibitions for Saudi youth with different methods and schools of contemporary and conceptual art aimed at putting the modern art scene under the spotlight.

The 21,39 name for the event is derived from the geographical coordinates of the latitude and longitude of Jeddah city.