Saudi Gazette report

OSAKA — Saudi Arabia is studying ways to integrate Japanese companies into its special economic zones as part of efforts to deepen bilateral investment ties, Investment Minister Khalid Al-Falih said on Wednesday.

Speaking at the opening of the Saudi-Japan Investment Forum in Osaka, Al-Falih said the Kingdom has fully restructured its economy in line with Vision 2030, adding that its economic strategy has “proven successful.”

Al-Falih is leading a high-level delegation of officials and private sector leaders to Japan in a visit aimed at strengthening economic cooperation and identifying new investment opportunities.

The Saudi-Japan Investment Forum, the largest of its kind in Osaka, has drawn more than 1,500 participants from priority investment sectors for both sides.

Al-Falih highlighted that Japan is Saudi Arabia’s third-largest trading partner, with the Kingdom supplying 40 percent of Japan’s crude oil needs.

He pointed to Saudi Arabia’s giga-tourism projects as major opportunities for Japanese companies and urged them to play a bigger role in the Kingdom’s infrastructure transformation.

Calling for a move beyond traditional partnership models, Al-Falih stressed the need for “deeper strategic integration” between the two nations.

He also noted that Japanese banks maintain only a modest presence in the Saudi market, leaving room for greater cooperation in the financial sector.