Saudi Arabia-Japan sign 15 investment agreements
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Khalid Al Mansoor
- . December 27, 2022
- . Update: December 27, 2022 7:18 pm
In an effort to strengthen their economic ties, Saudi Arabia and Japan signed 15 strategic investment agreements on Monday during the Saudi-Japan Investment Forum held in Riyadh. These accords covered a wide range of industries.
Nearly 99 Japanese companies invested in the countries as a result of the agreements, which were signed to increase investment in the fields of metals, marine, petrochemicals, as well as automotive among others. The two countries intend to further strengthen their economic ties.
Speaking during the meeting, Saudi Arabia’s Minister of Investment Khalid Al-Falih said that the two countries had grown their ties with great dedication because Saudi Arabia wants to invest USD 3.3 trillion with Japan by the end of this decade.
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The minister added that Saudi Arabia will establish over 500,000 electric vehicles annually by the start of the next decade thanks to its relations with the country in east Asia.
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