Saudi Arabia to facilitate mineral resources supply to Japanese industries

Industries in Japan are set to see a boost in mineral resources sourced from Saudi Arabia following high-level discussions with the minister of industry and mineral resources.

During an official visit to the East Asian country, Bandar Alkhorayef engaged in talks with executives at the Japan Organization for Metals and Energy Security, the Saudi Press Agency reported.

This aligns with the objectives of the Saudi-Japan Vision 2030, offering a framework for a strategic partnership between nations.

During the meeting, Alkhorayef emphasized the cooperation potential between the parties while highlighting the Kingdom’s abundant mineral wealth, which comprises numerous essential metals for advanced industries.

He also underscored Saudi Arabia’s competitive advantages, which help position it as a potential hub for mineral production.

The minister met with several Saudi scholarship students during his visit.

“Investing in our countrymen is one of the main pillars of the Kingdom’s vision, and during my meeting with Saudi scholarship students in Japan, I became more certain that the Kingdom’s young men and women have ambition, passion, and seriousness, which makes this investment successful and achieves the goals of the human capacity development program to be able to compete globally,” Alkhorayef said in a post on X, formerly known as Twitter.

In his speech to the award recipients, he highlighted the Kingdom’s commitment to nurturing the intellect of its youth through international scholarships. This initiative aims to contribute to the nation’s renaissance by offering quality education and implementing programs that align with the region’s Vision 2030, which strives to place Saudi Arabia in the ranks of developed countries.

As part of his visit, Alkhorayef also met with the East Asian country’s Minister of Economy, Trade, and Industry, Ken Saito, to discuss various partnership opportunities, including deepening cooperation within the framework of the Saudi-Japanese Vision 2030, enhancing collaboration between the Kingdom and Japan in the industrial and mining sectors and the qualitative investment opportunities they provide.

He also participated in the investor’s roundtable with representatives from over 19 Japanese companies in Tokyo.

The visit’s schedule will see the minister meeting with several government officials, investors, and private sector companies actively involved in the industrial and mining sectors, according to a statement.

The primary aim of these meetings is to foster the development of a comprehensive strategic partnership between the two sides.

In its statement, the ministry explained that Alkhorayef will discuss the implementation of projects outlined in the Saudi-Japanese Vision 2030 with government officials.

Both countries agreed upon these projects during Crown Prince Mohammed bin Salman’s visit to Japan in September 2016.

The agreed-upon sectors include food and agricultural security, healthcare, as well as infrastructure, finance, and investment.

Other sectors include the competitive industries and the development of small and medium-sized enterprises.

The minister is also set to meet with a group of Japanese investors during the visit to showcase the advantages of the business environment in the Kingdom with the goal of attracting high-quality investments to vital sectors in the country.

Established in 2017, the Saudi-Japan Vision 2030 consists of projects that involve both the public and private sectors and contribute to the growth strategies of both countries.