Saudi Arabia opened its doors for Japaneseinvestment during a Saudi-Japan business forum held in Tokyo on Wednesday amidgrowing economic ties between the two nations.
The Saudi Arabian General Investment Authority(SAGIA) discussed tourism and entertainment investment opportunities in SaudiArabia with Japan's business leaders and government officials during theSaudi-Japan Vision 2030 Business Forum, hosted in partnership with the JapanExternal Trade Organization (JETRO).
During the forum, 12 Memoranda of Understanding(MoU) were exchanged in fields of education, science, technology, and bankingand finance.
The MoUs include Toyobo and Saline WaterConversion Corporation and Arabian Japanese Membrane Company which will aim tomanage disposed brine water generated from seawater desalination plants forenvironmental sustainability.
Two Saudi and Japanese universities signed MoUsfor academic exchange on research. While SAGIA signed MoU with Sumitomo MitsuiBanking Corporation to enhance investment opportunities.
"Japan is one of Saudi Arabia's most importanteconomic partners, and businesses from across our countries have a strong trackrecord of working together," Saudi Arabia's Minister of Commerce andInvestment, Majid Al-Qasabi said at the Forum.
