December 16, 2020
Joint press release with the Ministry of Investment, Saudi Arabia
On December 15, 2020, the Ministry of Economy, Trade and Industry (METI) and the Ministry of Investment of Saudi Arabia jointly held the Fifth Ministerial Meeting on “Saudi-Japan Vision 2030” with the participation of related ministers from Japan and the Kingdom of Saudi Arabia.
The formulation of the “Saudi-Japan Vision 2030” in 2017 as a new compass for the long-standing strategic partnership between Japan and the Kingdom of Saudi Arabia encompasses wide-ranging areas for cooperation. The Saudi-Japan Vision 2030 aims to facilitate public and private sector involvement between Saudi Arabia and Japan by aligning and reporting on strategic initiatives that contribute to the objectives of each country’s national growth and development strategies.
This latest ministerial meeting is the fifth held under the Saudi-Japan Vision 2030 umbrella and the first to be held online. Senior representatives from Saudi and Japanese government entities attended the meeting, led by Mr. Kajiyama Hiroshi, Minister of Economy, Trade and Industry and Mr. Washio Eiichiro, State Minister for Foreign Affairs from the Japanese side, and H.E. Eng. Khalid Al-Falih, Minister of Investment of Saudi Arabia from the Saudi side.
The Ministers welcomed the efforts made by both countries to progress Saudi-Japan Vision 2030 projects. They also confirmed their continuous commitment to the Saudi-Japan Vision 2030 partnership and emphasized the importance of seeking new ways of cooperation that aid both countries in mitigating the impact of the COVID-19 pandemic.
Mr. Kajiyama Hiroshi, Minister of Economy, Trade and Industry said: “It is important to develop cooperation for social challenges such as carbon neutral and water management through the collaboration projects. In addition, we should develop new ways of cooperation such as virtual forums and online business matching considering the situation of COVID-19. ”
H.E. Eng. Khalid Al-Falih, Minister of Investment of Saudi Arabia said: “Today’s Ministerial Meeting marks a step forward in the historic relations between our two nations, as we commit to the next phase of the Saudi-Japan Vision 2030. Japan is one of Saudi Arabia’s closest and longest-standing economic partners. Saudi Arabia has embarked on an exciting economic and social transformation where Japan can support the Kingdom in unlocking opportunities at an accelerated rate through our joint Vision 2030 framework. We are fully committed to enabling Japanese investors to expand their role in Saudi Arabia.
During the meeting, Japan and Saudi Arabia confirmed the progress on cooperation projects in a wide range of fields and compiled specific future actions to enable the achievement of the “Saudi-Japan Vision 2030”. In addition, 10 MoUs were announced including a cooperation between Saudi Arabia’s Economic Cities and Special Zones Authority and the Saudi-Japan Vision Office Riyadh. Both countries will build on the progress made during the meeting to host an accompanying Saudi-Japan Vision 2030 Business Forum on the 16th and 17th of December 2020, which will bring together Saudi and Japanese businesses to discuss the emerging investment and cooperation opportunities in the Kingdom’s tourism and start-up sectors.
Division in Charge
Middle East and Africa Division, Trade Policy Bureau