Saudi Investment Minister Khalid al-Falih has predicted investments of up to 600 billion dollars in the kingdom's petrochemical sector by 2030.

The minister announced in his speech during the Saudi-Japanese investment forum hosted by Riyadh that 14 agreements and memorandums of understanding will be announced between Saudi and Japanese entities and companies during the forum in sectors, most notably Water, Telecommunications, Information Technology, Energy, Financial Services and healthcare.
The minister added that 45 major Japanese companies are participating in the forum, which will review the opportunities of promising companies in the implementation of giant projects in the kingdom such as NEOM and the Red Sea.
He pointed out that the Japanese delegation includes 14 startups that possess unique technologies that enable them to contribute to the transformation of an entire industry, explaining that the kingdom welcomes startups to enter its markets supported by reliable sources of funding as part of Saudi efforts to promote entrepreneurship and technology to reap the fruits of the digital revolution.

He said that there is a growing demand for borrowing in the kingdom with a value exceeding 1.5 trillion dollars, and Japanese banks and asset managers will continue to contribute to it.

He said that the Saudi stock market "Tadawul "will continue the growth path that began over the past six years, and predicted the existence of opportunities worth 1.7 trillion dollars in the Saudi stock market" Tadawul " whether debt instruments or stocks, which creates many opportunities in the kingdom for the Japanese financial sector.

He pointed out that the energy sector has been a key focus of relations between Saudi Arabia and Japan over the past seventy years, and the kingdom was the first and most important partner and the closest supplier of oil and liquefied gas supplies to Japan during the important economic stages that the Japanese economy went through after the World War and all the economic shocks that the global economy was subjected to.

"We will continue to jointly invest and partner in the development of the hydroelectronics sector, looking forward to developing our joint business in the future of new energy,"he added.