Saudi-Japan Vision 2030 Business Forum in Riyadh

December 2022

At the beginning of the forum, Minister of Investment Khalid Bin Abdulaziz Al-Falih expressed his hope for investment in areas where Japan excels, such as manufacturing, content and e-sports, decarbonization and tourism. Minister of Economy, Trade and Industry NISHIMURA Yasutoshi noted that Japan-Saudi relations are becoming more important amid the trend toward decarbonization, and that a variety of Japanese startups in fields such as mobility, water and AI, as well as major companies, were participating in the forum to further develop cooperative relations. NOBUTANI Kazushige, President of JETRO, explained JETRO’s contribution to Saudi-Japan Vision 2030 and the expectations of Japanese companies toward Saudi Arabia, which is undergoing major changes.

Government officials and business people from Japan and Saudi Arabia at the forefront of collaboration appeared on the stage of each panel discussion. In Panel 1, the panelists exchanged opinions on the possibilities in the field of content, based on their experiences in joint production of manga and animation and friendly e-sports matches. In Panel 2, the future of manufacturing in Saudi Arabia, including of electric vehicles, was demonstrated through explanations of the efforts and experiences of each company. Panel 3 presented the public and private sectors’ respective efforts to achieve a decarbonized society. In Panel 4, startups and investors exchanged views on their own initiatives and future directions in the field of innovation.

As a testament to the deepening and broadening of cooperation between Japan and Saudi Arabia, 15 new MOUs were concluded in various fields, including trade and investment promotion, energy and infrastructure, finance, food, biotechnology and sports, with not only major Japanese companies but also startups as signatories. With many Japanese and Saudi companies gathered in one place, there was active networking in search of new business opportunities, which is expected to lead to further collaboration and further development of Saudi-Japan Vision 2030.