[Event Report] Japan-Gulf Business & Investment Forum 2026 Held in Dubai: Expanding Investment Opportunities Between Japan and the Middle East

On January 14, JETRO co-hosted the Japan-Gulf Business & Investment Forum 2026 with the Japan Exchange Group (JPX) in Dubai, United Arab Emirates (UAE). The event was attended by UAE government agencies, investors, and financial sector representatives with an interest in investing in or collaborating with Japan.

Investment from the Middle East into Japan has been steadily expanding, primarily driven by sovereign wealth funds (SWFs). Cases of Japanese startups receiving investment from the Middle East and expanding their businesses in the region have begun to emerge. On the other hand, Middle Eastern countries' understanding of Japan's political and economic environment and institutional reforms is not necessarily sufficient. Against this backdrop, the forum was organized with the aim of having the public and private sectors along with the media work together to directly communicate the attractiveness of the Japanese market and specific investment opportunities on the ground.

The industry panel held at the forum featured Yoshihiko Katsuda, Regional Head for Middle East at MUFG Bank, Tomohiro Fujita, Founder and CEO of CHITOSE Group, and Takeo Nakajima, Director-General of Innovation Department of JETRO.

Nakajima of JETRO noted that "bilateral investment and business partnerships between Japan and the Middle East are steadily expanding." Regarding inward direct investment in Japan, he stated that "SWFs such as Saudi Arabia's Public Investment Fund (PIF), Qatar Investment Authority (QIA), and the UAE's state-owned investment company Mubadala are expanding their investments in the Japanese market with a long-term perspective, primarily in the gaming, finance, digital infrastructure, and decarbonization/clean energy sectors, demonstrating their high regard for the competitiveness and growth potential of Japanese companies." He also mentioned that the Japanese government has been strategically strengthening efforts to attract foreign investment through tax incentives and subsidies for specific industries, explaining that Japan's stock of inward foreign direct investment reached a record high of approximately 53.3 trillion yen in 2024 (Note 1) . ("Program for Promotion of Foreign Direct Investment in Japan 2025(233KB)," Cabinet Office)

In addition, he noted that Japanese startups are also increasing their presence in the Middle Eastern market.

Mr. Katsuda of MUFG Bank pointed out that Japan's high-quality and reliable technology has strong potential in data center-related facilities and next-generation energy fields such as ammonia and hydrogen. Additionally, Mr. Fujita of CHITOSE Group, which is engaged in technology development in environmental fields and deep tech (Note 2), stated that, since the company possesses microbial cultivation technology and envisions expanding photosynthesis on a large scale by capturing carbon dioxide (CO2) as a resource while leveraging sunlight and unused land, they are considering business expansion in the UAE, given the advantages of abundant sunlight and vast desert areas.

At the end of the event, Nobuyuki Nakajima, Director of JETRO Dubai Office, took the stage and highlighted the improvement in Japan's investment environment, as evidenced by the trend of greenfield investment in Japan expanding to its largest scale ever (see "JETRO Invest Japan Report 2025(2.9MB)"). He also emphasized the significance of all-Japan approach—bringing together the government, JETRO, financial institutions, and the media—to deepen collaboration with Middle Eastern countries and further accelerate the circulation of people and capital."). He also emphasized the significance of all-Japan approach—bringing together the government, JETRO, financial institutions, and the media—to deepen collaboration with Middle Eastern countries and further accelerate the circulation of people and capital.

(Sara Furukawa)
(United Arab Emirates, Japan)