Saudi Arabia, Japan to intensify efforts to realize joint Vision 2030 projects

RIYADH: Saudi Arabia and Japan have intensified efforts to boost cooperation and realize joint projects within the framework of the ambitious Vision 2030.
The two countries have identified broad areas of cooperation across nine themes to be promoted by 41 Japanese and Saudi ministries, agencies and organizations.
“A joint group chaired by five ministries currently serve as the platform for cooperation and exchange among subgroup representatives from the Kingdom and Japan,” said a report released by the Japanese Embassy here. The report lists government agencies of Japan and the Kingdom that are members of the subgroups.
The broad areas of cooperation between the two countries, according to the report, include energy, investment and finance, health care, entertainment, media, quality infrastructure, agriculture, food security, SMEs, capacity building, culture, sports and education.
With the visit of King Salman to Japan, the two countries agreed to a series of developmental projects that include 11 government-related projects. Japanese Prime Minister Shinzo Abe and King Salman held a summit in March and came to an agreement on the government project Saudi-Japan Vision 2030.
The agreement allows both countries an equal strategic partnership with a provision for a designated zone in Saudi Arabia for Japanese companies.
Among the private projects, Toyota is considering producing cars and parts in Saudi Arabia. Three megabanks, including Mitsubishi Tokyo UFJ Bank, have decided to cooperate to promote investments in Saudi Arabia. Another Japanese company has agreed to cooperate in technological development of desalination plants. The SoftBank Group is working on an investment fund in collaboration with Saudi Arabia.