Saudi Japanese Investment Forum witnessed on Monday the signing of 15 agreements between the two countries, according to Minister of Investment Khalid Al-Falih.

The agreements included memorandums of understanding in the fields of artificial intelligence (AI), sports, finance, banking, polyester recycling, agriculture, food, industry, manufacturing, trade, energy, digitization, smart cities and personalization.

On the sidelines of the Investment Forum in Riyadh, Al-Falih said that the deals in energy, hydrogen and ammonia, are aimed at establishing a long-term bilateral partnership.

“The agreements enhance and boost mutual investments between the two countries and achieve the aspirations of the Kingdom’s Vision 2030, which is in line with Japanese government’s strategic vision.”

He pointed out that the existing transformation would continue and accelerate in the field of green and renewable energy, indicating that the Kingdom is determined to lead in this sector.

The Saudi minister confirmed that Japan is one of the three largest investing countries in the Kingdom, having mega investments in Jubail factories as well as the electric appliances field, amongst other sectors, that exceed billions of dollars.

He said that Saudi Japanese Investment Forum, chaired by Japanese Minister of Economy, Trade and Industry Nishimura Yasutoshi, is the largest visit by a Japanese delegation. It welcomed 150 officials from the Japanese private sector.