Saudi-Japan Vision 2030 Business Forum in Riyadh
On December 26, 2022, JETRO co-hosted the 5th "Saudi-Japan Vision 2030 Business Forum" in Riyadh, the capital of Saudi Arabia, with the Ministry of Economy, Trade and Industry (METI); the Ministry of Investment Saudi Arabia (MISA); and Japan Cooperation Center for the Middle East (JCCME). Approximately 300 people, including government officials and corporate executives from both Japan and Saudi Arabia, participated.
The forum was held with the aim of further deepening relations under "Saudi-Japan Vision 2030," the strategic partnership between the two countries. It began with greetings from the ministers of both countries, followed by a presentation on Saudi Arabia's major policies for attracting companies and panel discussions in four areas (e-sports, manufacturing, decarbonization and innovation). During panel discussions in each area, the potential of new business cooperation and calls for investment were actively discussed. The forum also featured the exchange ceremonies of 15 new memorandums of understanding (MOU) between the two countries.
General view of the venue
Both countries mention importance and expectations of partnership
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.
Expanding business possibilities
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.
15 new MOUs and active networking
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.
Greeting by Khalid Al-Falih, Minister of Investment of Saudi Arabia
Greeting by Economic Minister Nishimura
Presentation by Ministry of Investment of Saudi Arabia
Presentation by JETRO President Nobutani
Session 1: Gaming, e-Sports and Beyond
Session 2: Global Industrial and Automotive Projections
Session 3: Future Clean Energy, The Path to Net Zero Emissions
Session 4: Enabling Future Innovations
Networking between both countries
|Date and time||Monday, December 26, 2022, 10:00 - 16:00|
|Organizers/co-organizers||Ministry of Economy, Trade and Industry (METI); Ministry of Investment of Saudi Arabia (MISA); Saudi-Japan Vision Office in Riyadh; Japan Cooperation Center for the Middle East (JCCME); Japan External Trade Organization (JETRO)|