Minister Saito Attends Saudi-Japan Vision 2030 Business Forum

1. Saudi-Japan Vision 2030 Business Forum

Minister Saito attended the Saudi-Japan Vision 2030 Business Forum held in Tokyo on May 21, 2024, which was jointly hosted by the Ministry of Economy, Trade and Industry (METI), the Japan External Trade Organization (JETRO), the Japan Cooperation Center for the Middle East (JCCME), and the Ministry of Investment of Saudi Arabia, and delivered closing remarks. During the closing remarks, he wished for a quick recovery of the Custodian of the Two Holy Mosques, His Majesty King Salman bin Abdulaziz Al-SAUD, in response to the postponement of the visit to Japan of H.R.H. Prince Mohammed bin Salman bin Abdulaziz Al-SAUD, Saudi Arabia, which had been scheduled to take place. In addition, referring to the progress made in cooperation under the Japan-Saudi Arabia cooperation frameworks, i.e., Saudi-Japan Vision 2030 and the Japan-Kingdom of Saudi Arabia Lighthouse Initiative for Clean Energy Cooperation, and taking into consideration the fact that Riyadh will host the world exposition in 2030, he stated that Japan intends to succeed in EXPO 2025 Osaka, Kansai, Japan, and make sure to pass the baton to Saudi Arabia.

Taking this opportunity, he attended a photo session together with representatives of Japanese and Saudi-Arabian companies that signed new memorandums of understanding (MOU).

2. Roundtable for the dialogue between large Japanese and Saudi Arabian companies hosted by the government of Saudi Arabia

Minister Saito attended a roundtable for the dialogue between the ministers from the government of Saudi Arabia, including H.R.H. Prince Abdulaziz bin Salman, Minister of Energy, H.E. Eng. Khalid Al-Falih, Minister of Investment, and H.E. Eng. Abdullah Alswaha, Minister of Communications and Information Technology, and representatives of Japanese companies.

The dialogue was hosted by the Ministry of Investment of Saudi Arabia and brought together chairman- and CEO-level executives invited from large companies in the manufacturing, engineering, medical care and health care, financial, and trading sectors in Japan, as well as those of government-affiliated companies and large companies in Saudi Arabia. Representatives of participating Japanese companies explained their projects and business prospects in Saudi Arabia, and participants held proactive discussions.

3. Witnessing the conclusion of the power purchase agreement on the wind power generation project between Marubeni Corporation and Saudi Power Procurement Company (SPPC)

Minister Saito and Minister Abdulaziz witnessed the signing of a power purchase agreement on the wind power generation project between Marubeni Corporation and SPPC. This is the largest wind power generation project in Saudi Arabia and contributes to Saudi Arabia’s achievement of net-zero emissions of carbon dioxide by 2060. This is the first effort for Japanese companies to participate in wind power generation projects in Saudi Arabia.

Divisions in Charge

• Information on Items 1 and 2:

  Middle East and Africa Division, Trade Policy Bureau

• Information on Item 3:

  International Affairs Division, Agency for Natural Resources and Energy