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Vision 2030: Creating Strategic Partnership with Japan Japan Stands Ready to Help Saudi Arabia Implement Its Aramco, While Telecoms Giant Softbank Group Corp

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Vision 2030: Creating Strategic Partnership with Japan Japan Stands Ready to Help Saudi Arabia Implement Its Aramco, While Telecoms Giant Softbank Group Corp 121st year | no. 42,289 ISSN 0289-1956 © THE JAPAN TIMES, LTD., 2017 SAUDI ARABIA FRIDAY, SEPTEMBER 22, 2017 Vision 2030: Creating strategic partnership with Japan Japan stands ready to help Saudi Arabia implement its Aramco, while telecoms giant SoftBank Group Corp. launched a huge technology investment wide-ranging Vision 2030 plan and to reduce the country’s fund in conjunction with the kingdom’s Public Investment Fund (PIF). dependence on oil. Designed to target “meaningful, long-term investments in companies and foundational plat- Japan and Saudi Arabia have a 62-year history of form businesses that seek to enable the next age strong diplomatic, trade and business relations, of innovation,” according to SoftBank, the fund but the signing of the comprehensive investment raised $93 billion in its fi rst major closing in May. and socioeconomic development blueprint Saudi- That impressive sum of capital commitments Japan Vision 2030, in March, signals a new excit- for funding delights Okuda, who feels PIF and ing period as the two countries align to accelerate SoftBank’s Vision Fund sends a very positive sig- economic development in the kingdom. nal to Japanese companies to build links with the Connections between the continental pow- kingdom. erhouses are at an all-time high. Saudi Arabia “Saudi Arabia is a special country, with huge is Japan’s main investment destination in the fi nancial potential,” he says, adding, “In the short IMAGE: Cabinet Public Relations O of Japan) (of the Government ce O Cabinet Public Relations IMAGE: Middle East, accounting for around 70 percent term, it has challenges to overcome, but in the of its investments in the region; bilateral trade medium and long-term, there are tremendous between the two reached a record $56 billion in opportunities for Japanese enterprises. 2015 and Japan is Saudi Arabia’s third-largest trad- “Japan’s domestic market is quite limited and ing partner. we tend to be pessimistic about the future of the The new strategic alliance, the importance of Japanese economy. We can conquer this pessi- which is seen as huge, aims to build on these suc- Norihiro Okuda mism by working strategically with Saudi Arabia cesses. All signs are that it will succeed, as it brings Japanese Ambassador to Saudi Arabia and they know that, which is why they are moving together a strategically located, resource-rich closer to us.” country striving to diversify its economy, with an economic giant boasting an outstanding reputa- the idea of special economic zones, which pres- Pillars of partnership tion for cutting-edge technology, innovation and ent a model for Saudi Arabia’s economic reforms. Overall, Saudi-Japan Vision 2030 aims to “achieve dedication to quality. The kingdom is likely to establish special eco- the national socioeconomic visions of both coun- Saudi Arabia’s King Salman bin Abdulaziz Al Saud and Japanese Prime Minister Shinzo Abe shake hands ahead of fruitful talks in Tokyo. The scale of the innovative Saudi-Japan Vision nomic zones for Japanese companies, where tries by building on commonalities, activating 2030 program is breathtaking and globally unique, leading Japanese vehicle manufacturers, such as complementarities and maximizing synergies.” and cultural landscapes of both countries by set- “Japanese companies can benefi t immeasurably Furthermore, Seko wants to establish a new with over 40 ministries, agencies and organiza- Toyota, may choose to invest in new state-of-the- It highlights the fundamental shift in the pair’s ting strong cooperation fundamentals. Through from the opportunities in Saudi Arabia, which “Enabler Subgroup” within the joint group, specifi - tions pledging to increase cooperation and share art plants. macroeconomic business models and an under- Saudi-Japan Vision 2030, the kingdom’s position is why we have established the Japan-Saudi cally geared toward enhancing the ease of doing knowledge and skills across nine themes. Abe noted that the pact will strengthen coordi- standing that they need to adopt a proactive as the center of the Islamic world will be empha- Joint Group for Vision 2030, with five working business between the two countries and which These broad areas of focus for the next 13 years nation in political and security fi elds, and revealed approach and work together, if they are both to sized and various sociocultural elements will be subgroups, covering the major subjects: trade would discuss cross-sectorial challenges. are: competitive industry; energy; entertainment he intends to hold dialogues between the two reach their full potential. highlighted, including education, sports and and investment opportunities; investment and He also wants to see the early establishment of and media; health care and medicine; quality countries’ foreign ministries soon. The plan is underpinned by three core partner- entertainment, as major areas of focus in the fi nance; energy and industry; SMEs and capac- “Saudi-Japan Vision Offices” in both Tokyo and infrastructure; agriculture and food security; He also plans to promote defense cooperation, ship pillars of diversity, innovation and soft values. development of Saudi Arabia’s young people. ity building; and culture, education and sports.” Riyadh. This would help coordinate cooperation culture, sports and education; investment and based on the memorandum of understanding Diversity relates to achieving sustainable growth In order to continue improving the business on, for example, the 2020 Olympic Games in Tokyo fi nance; and small and medium-sized enterprises signed between Crown Prince Mohammed bin by improving quality and productivity in public Joint group turning vision into reality environment, Hiroshige Seko, Japanese minister and he notes that Saudi offi cials are already mak- (SMEs) and capability building. Salman, Saudi Arabian minister of defense, and and private institutions, and by establishing a Okuda highly commends the initiatives being of economy, trade and industry, highlights the ing approaches about working together in areas broader industrial landscape, wider economic taken by the kingdom to reform its economy such as karate and judo. Relations deepen from the top down “Today, Saudi Arabia is diversity and access to new markets. and society, explaining that “Saudi Arabia is “The private sector is now The Japan-Saudi Joint Group for Vision 2030 is The official signing of the Saudi-Japan Vision Innovation concerns enhancing the competi- going through a large-scale, nationwide transi- on course to provide a win-win outcome for both 2030 plan was one of the highlights of Japanese Japan’s main investment tiveness of economic sectors by capitalizing on tion, which Japan experienced during the Meiji gaining importance with countries. Japanese companies can now develop Prime Minister Shinzo Abe’s 2017 meeting with technology and innovation in order to increase Restoration period in the 19th century. public-private partnerships, of any type, in all Saudi Arabia’s King Salman bin Abdulaziz Al Saud destination in the Middle quality and efficiency, while lowering costs of “If you can join hands with the Saudi govern- Vision , which is good areas that Saudi Arabia is reforming and closely in Tokyo. East, accounting for around products and services. ment and Saudi businesspeople, you can be for a thriving economy. The relate them to Japan’s Abenomics program. The high-profile visit — the first by a Saudi With Saudi Arabia determined to continue remembered as strong promoters of successful So far, 36 companies who are keen to establish Arabian head of state in nearly 50 years — “was percent of its investments investing heavily in technology development, as reform efforts — which is very rare. future is very bright for the a connection with the kingdom, together with the signifi cant,” says Norihiro Okuda, Japan’s ambas- in the region.” a route to optimizing key business sectors, Japan “The survival of Saudi Arabia is very important Saudi-Japanese relationship, Japan External Trade Organization (JETRO) and sador to Saudi Arabia, “and refl ects the priority the wants to use the alliance to secure its position as a to Japan. To survive, they have to make some the Japan Cooperation Center for the Middle East, kingdom attaches to strengthening the relation- Norihiro Okuda global leader in technological research and devel- changes to the economy, and Japan is fully sup- moving forward into the have proposed projects to the joint group. The ship with Japan.” Japanese Ambassador to Saudi Arabia opment across a wide range of areas. portive of this strategy.” long term.” wide-ranging proposals include ones for energy During the visit, the two leaders confirmed The innovation pillar will also provide a boost He is encouraging Japanese public and private savings, wastewater treatment, health care and that the strategic partnership would propel their Japan’s minister of defense in September 2016. to SMEs, whose early involvement is intended to sector bodies to actively cooperate with Saudi Takashi Mitsuka, Managing Director, industry. countries’ relations to a new high, supported by Following the royal visit, business leaders in play an essential role in Saudi Arabia’s planned Arabia to achieve the goals outlined in the Saudi- Japan External Trade Organization, Riyadh Japan is prepared to contribute the maximum initiatives such as the new Japan-Saudi Arabia both nations immediately set to work on turning digital transformation, by driving bottom-up Japan Vision 2030 developmental roadmap. to Saudi Arabia’s Vision 2030, as Takashi Mitsuka, investment agreement that will act as a catalyst the fi rst batch of plans into reality, as illustrated by innovation. “It is my goal that Japanese companies reach importance of joint efforts to promptly address managing director of JETRO Riyadh, explains: for foreign direct investment from Japan and several of Japan’s largest banking groups agreeing Saudi Arabia is keen to promote the role of out to Saudi Arabia and use their presence there the specifi c requests and challenges raised by pri- “The common feeling among Japan’s private and elsewhere.
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