Saudi Arabia Expects $600 Bln in Petrochemical Investments

Saudi Arabia's Minister of Investment Khalid Al-Falih announced that expected investments in the Saudi petrochemical sector will reach $600 billion by 2030.

Speaking at the Saudi-Japanese Investment Forum held in Riyadh, the Saudi minister also mentioned that 14 agreements and memoranda of understanding would be signed during the forum between various parties from Saudi Arabia and Japan.

The forum aims to highlight investment opportunities, enhancing the investment partnership between the two countries in line with the Saudi-Japanese Vision 2030.

With broad participation from the Saudi and Japanese private sectors, the forum showcased opportunities to expand the investment partnership between the two countries in strategic priority sectors, including trade and investment, energy and industry, small and medium-sized enterprises and finance, education, culture, and sports.

Furthermore, the forum witnessed the exchange of 15 investment memoranda of understanding between the two sides in various fields, such as artificial intelligence, sports, finance, banking services, polyester recycling, agriculture, food, industry, manufacturing, trade, energy, digitization, smart cities, and privatization. Additionally, bilateral meetings and sessions between representatives of the private sector and major Saudi and Japanese companies were held to discuss cooperation and investment opportunities.