Saudi Arabia Seeks Japanese Participation in Mining Sector Expansion

(MENAFN) Saudi Arabia, leveraging recent reforms in its mining sector, has actively sought the participation of Japanese firms in its extensive exploration activities, aiming to attract a significant investment of SR40 billion (USD10.6 billion). In pursuit of this objective, top officials from the Kingdom and Japanese business leaders convened in Tokyo for a series of meetings as part of the Invest Saudi initiative. The discussions centered around accelerating mutually beneficial partnerships and exploring investment opportunities between the two countries.

The Saudi-Japan Mining and Minerals Meeting served as a platform to present an in-depth overview of Saudi Arabia's ambitious mining strategy, highlighting the importance of its National Investment Strategy. The officials shed light on the Saudi system for mining licenses and emphasized the array of exploration opportunities available for medium- and long-term investments. This comprehensive understanding of the mining landscape in Saudi Arabia aimed to foster informed decision-making and encourage Japanese companies to participate in the sector.

During the three-day event, a workshop was jointly organized by Saudi Arabia's Ministry of Investment, the Ministry of Industry and Mineral Resources, and the Japan Oil, Gas and Metals National Corp. (JOGMEC). The workshop specifically focused on providing support and guidance to Japanese companies interested in investing in Saudi Arabia's mining sector and its supply chain. The collaborative effort aimed to address potential concerns, share valuable insights, and facilitate a smooth entry for Japanese firms into the Saudi mining industry.

With its abundant natural resources, Saudi Arabia has implemented a series of policy initiatives in recent years to attract private investors to its mining sector. These efforts, coupled with the Kingdom's strategic location and robust infrastructure, have presented lucrative opportunities for companies seeking to strengthen their global supply chains. By forging partnerships with Japanese firms and encouraging their participation in the mining activities, Saudi Arabia aims to harness the expertise and resources of both nations to drive growth and maximize the sector's potential.


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