Saudi Arabia And Japan JUST ANNOUNCED Their NEW INSANE Partnership That Is A GAME CHANGER

Saudi Arabia And Japan JUST ANNOUNCED Their NEW INSANE Partnership That Is A GAME CHANGER

#saudiarabia #energy #japan

Riyadh hosted the Saudi-Japanese Investment Forum on December 25. And 15 agreements were signed at the event, spanning fields as varied as technology, artificial intelligence, industry, and sustainable energy.

King Salman places a high priority on the close ties that exist between his country and Japan. In fact, their policies have always prioritized improving relations between the two countries. Their respective governments also see the value of combining their countries' strengths to further their shared goals.

Riyadh and Tokyo have stated their intention to upgrade their relationship to a qualitative partnership. And this is a major cornerstone for collaborative initiatives in the digital and industrial transformation of the future.

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Falih noted that the ongoing change toward clean and innovative energy will continue and even quicken. He stated that Crown Prince Mohammed bin Salman has instructed Saudi Arabia to become the leading country in this sector.

And the minister reaffirmed that Japan is one of the top three countries investing in the Kingdom.

He pointed out that it has made multibillion-dollar investments in Jubail's manufacturing sector, the electrical appliances industry, and other areas.

As a result, Japan's desire to increase output dovetails with Crown Prince Mohammed's Global Supply Chain Resilience Initiative, which was unveiled in October.

The Kingdom's competitive advantage in terms of manufacturing cost, strategic position, availability of critical resources, and the competent Saudi workforce will be to its advantage.

And they've established their competence in many businesses, including Japanese ones.

Falih said that Japan is a friend of Saudi Arabia since it is one of the most evolved countries in terms of commerce, industry, transportation, digitalization, and quality of life.

Falih also said the Kingdom of Saudi Arabia plans to establish itself as a significant center for gaming and e-sports by the year 2030. And its goal was to create material with broad regional and international reach.

He also stated that Ras al-Khair will become home to one of the world's five largest maritime industry parks funded by the Kingdom.

The minister went into detail about the many areas of cooperation between Riyadh and Tokyo. Specifically, they seek to strengthen collaboration through energy transformation, which is a vital part of their strategy.

He mentioned that oil and petrochemicals have been the primary focus of the investment partnership between the two nations for the last seven decades. But now, they'll be looking at other things.

He emphasized that Vision 2030 was the first step towards mutual investment between their countries. So, they want to use cutting-edge technology to get into new, high-quality areas.

Crown Prince Mohammed reportedly ordered the formation of a joint committee to forge business alliances with Japan's private sector.

He mentioned that the previous meeting between Saudi and Japanese officials took place weeks ago in Tokyo.

They also spoke with numerous industry heavyweights in energy, hydrogen, and ammonia. And agreements were reached on both sides to form a model cooperation.

Energy, petrochemicals, and reciprocal investments have been the backbone of the close Saudi and Japanese relationship over the past many decades.

But Saudi Arabia's strategic position, cheap energy, raw minerals, and global effort for supply chains give them a leg up on the competition.

Moreover, the Saudi plan to supply 500,000 automobiles represents a massive opportunity for Japanese automakers to expand their presence in the Kingdom.



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