JEDDAH, 6 July 2005 — A Japanese trade delegation specialized in water treatment met with a number of Saudi businessmen and investors during its visit to Jeddah. “Most of the team members held negotiations for joint ventures with their local investors and businessmen,” the spokesman for the team said yesterday.
“The entire team is thrilled by the kind of interaction every member had with local businessmen and learned with great satisfaction that the Kingdom’s potential for investments in water treatment could be in the region of SR45 billion in the coming five years,” Hiroki Toyohara, director of projects in a major Japanese company, said.
The team was also briefed by members of the Jeddah Chamber of Commerce & Industry and investors about the buoyancy in the economy and the “best ever” investment climate prevailing across the Kingdom.
Toyohara said Japanese businessmen were eyeing the Kingdom as it was the Middle East’s major market. “The Kingdom has been attracting huge overseas investments and that’s the reason why Japanese companies are keen to strengthen their presence,” he added.
He pointed out that Japan had a rich experience of technology and human skills, and with its capability could qualify well to take up gigantic projects in this part of the world.
The visiting team, whose members were specialized in water treatment technology, showed keen interest in partnership and joint venture projects.
The team discussed opportunities in major water treatment projects various local companies including with Maher A.S. Bondakji whose Al Marabie company is involved in water treatment equipments in addition to other businesses. “We held serious negotiations and are in the process of getting representations for some of the best Japanese companies that are willing to invest here,” Bondakji said. “It is precisely for the unprecedented opportunity for business growth that we’ve plans to increase our capital to SR20 million. This will enable us to facilitate the entry of new overseas partners and also keep pace with the development of the Saudi market,” he said at a reception he hosted for the visiting team.
