Saudi Arabia’s ACWA Power Signs MoUs with Japanese Companies at Saudi-Japan Vision 2030 Business Forum
During the Saudi-Japan Vision 2030 Business Forum on May 21, ACWA Power signed memorandums of understanding with several Japanese companies to foster collaboration on sustainable energy and water solutions.
ACWA Power stated that the goals of the MoUs include promoting sustainable energy transition and attracting foreign investment. These agreements are crucial for Saudi Arabia in terms of water desalination supplies, carbon emissions reduction, and economic development.
The Saudi Arabia-Japan Vision 2030 Business Forum convened in Tokyo with more than 300 industry officials and leaders exploring ways to enhance trade, investment, and cultural ties.
Key figures like Saudi Arabia’s Minister of Investment Khalid Al-Falih, Minister of Energy Prince Abdulaziz bin Salman Al Saud, and Japan’s Minister of Economy, Trade and Industry SAITO Ken were present, delivering speeches that underscored the strong relationship between the two nations.
Saito pledged Japan’s full support to expand business with Saudi Arabia, while Prince Abdulaziz emphasized the importance of collaborations in national energy transition processes. Al-Falih highlighted Saudi Arabia’s growing non-oil income and the vast investment opportunities available, including projects like Expo 2030 in Riyadh.
Moreover, Saudi Arabia will host the Winter Olympics in NEOM and the World Cup 2034, presenting investment opportunities for Japanese companies to engage in. Sessions at the forum covered various topics such as manufacturing collaboration, sustainability, entertainment industries, and healthcare cooperation.
The forum also featured a “Digital Entertainment Roundtable” focusing on Saudi Arabia’s efforts to build a local gaming industry by partnering with Japanese game developers, esports organizers, and investing in digital entertainment.