Riyadh - Sharikat Mubasher: Saudi Arabia and Japan signed more than 30 memoranda of understanding (MoUs) in energy, manufacturing, and financial activities fields on the sidelines of the Saudi-Japan Vision 2030 Business Forum.

The forum, which took place in Tokyo, aimed to deepen trade, investment, and cultural ties between both countries.

The Saudi Power Procurement Company signed two power purchase agreements with a consortium led by investment conglomerate Marubeni to purchase power from Al Ghat and the Wa’ad Alshamal wind projects.

Commenting on the deals, the Saudi Minister of Energy Abdulaziz Al Saud, said: “The electricity produced from both projects is sufficient to power 257,000 residential units per year, which emphasizes the significance of these projects in enhancing the energy efficiency in Saudi Arabia.”

Further, the agreements included an MoU between Aramco and Eneos Holdings, the Japanese refiner, and another MoU between Acwa Power and Japanese banks Sumitomo Mitsui and Mizuho

Several Saudi ministers attended the forum, including Minister of Investment Khalid Al Falih, Minister of Communications and Information Technology Abdullah Alswaha, and Minister of Culture Badr Al Saud.

During the forum, Japan’s Minister of Economy, Trade, and Industry Ken Saitō held meetings with Energy and Investment Ministers, along with several representatives of Saudi companies.

The forum hosted a “Digital Entertainment Roundtable” that discussed the Kingdom’s efforts to establish a local gaming industry, including localizing Japanese games for the Saudi market, partnering with esports tournament organizers, and investing in the digital entertainment sector.