Saudi Gazette report
TOKYO — Yasser Al-Rumayyan, Governor of Saudi Arabia’s Public Investment Fund (PIF) and Chairman of the Future Investment Initiative (FII) Institute, announced that the Kingdom’s sovereign wealth fund plans to increase its investments in Japan to $27 billion by the end of 2030.
Speaking at the FII Priority Asia Summit in Tokyo — held under the theme “New Asia” and hosting more than 1,000 leaders from government, business, technology, and civil society — Al-Rumayyan said that PIF had invested $11.5 billion in Japan between 2017 and 2024, adding: “We expect this number to rise to $27 billion by the end of 2030.”
The summit marks a significant shift in the global center of gravity for strategic dialogue from West to East, aiming to unlock prosperity and shape a more impactful future for humanity.
Al-Rumayyan’s remarks came during a conversation with Masahiro Kihara, President and CEO of Japan’s Mizuho Financial Group. His comments also highlighted PIF’s expanding partnerships with leading Japanese financial institutions.
In October last year, PIF signed several memorandums of understanding with major Japanese banks and institutions—including Mizuho Bank, Sumitomo Mitsui Financial Group, MUFG Bank, Nippon Export and Investment Insurance, and the Japan Bank for International Cooperation—worth more than $51 billion. The agreements aim to boost two-way capital flows through debt instruments and financial market cooperation.
At the end of 2023, Mizuho Financial Group launched the “One ETF FTSE Saudi Arabia Index,” listed on the Tokyo Stock Exchange. PIF and Mizuho jointly provided the primary seed investment for the ETF, which has an initial market capitalization exceeding 15 billion yen—making it the largest Japan-listed ETF exclusively tracking the Saudi market.
During a special session at the summit, Al-Rumayyan underlined Saudi Arabia’s emerging role in shaping the global future of artificial intelligence.
He said that with its energy resources, land availability, and a government committed to AI leadership, the Kingdom is positioned to become a global hub for advanced data and AI technologies.
These initiatives, he noted, reinforce Saudi Arabia’s commitment to “investing for good” while elevating Asia’s standing as a global center for innovation and resilience.
Richard Attias, CEO of the FII Institute, emphasized that “New Asia” represents the new engine of global growth.
Tokyo Governor Yuriko Koike formally opened the summit, praising Asia’s dynamic role in shaping the future of trade, technology, and investment.
She urged global leaders to adopt bold policies and seize opportunities for collaboration to usher in a new era of shared prosperity.
Alongside the summit, the FII Institute launched the fifth edition of the Global Future of Work Compass, focusing on Asia.
The report examines AI adoption, automation risks, and youth skills across nine key Asian economies, based on surveys of 200 companies and 100 young people.
The Institute also unveiled the Global Future of Work Navigator, a digital platform providing comparative insights to help decision-makers anticipate workforce trends.
According to the report, Asia now accounts for 25% of global R&D and 70% of patent applications, with innovation heavily concentrated in “advanced Asia” economies such as China, Japan, South Korea, and Singapore.
However, AI adoption varies widely: while 86% of executives in emerging Asia plan to adopt AI within five years, only 64% in advanced Asia expect the same—often due to lower risk appetite despite greater financial resources.
Youth skills and education also remain a defining factor. Around 40% of China’s graduates specialize in STEM fields, compared to 20% in Japan, where 81% of employers report significant hiring challenges.
