RIYADH: The Saudi-Japan Vision 2030 ministerial meeting was a major step forward in strengthening the historical relations between the two countries, the Saudi minister of investment has told a business seminar.
Speaking at the Saudi-Japan Vision 2030 Business Forum webinar on Tuesday, Khalid Al-Falih pledged commitment to the next phase of the initiative and pointed out that Japan had been an important economic partner of the Kingdom for many decades.
Since launching the Saudi Vision 2030 reform plan in 2016, the Kingdom had directly embarked on achieving its goals by emphasizing the important role that foreign investments played in the country, the minister said.
GLOBAL BUSINESS SUMMARY: Hitachi To Form Home Appliances Joint Venture
Wed, 16th Dec 2020 12:38
(Alliance News) - The following is a round-up of updates by global companies, issued on Wednesday and not separately reported by Alliance News:
Hitachi Ltd - Japanese conglomerate - Arcelik AS and Hitachi Global Life Solutions Inc sign a share purchase agreement to create a new joint venture company focused on global home appliances, excluding Japan. Hitachi GLS will establish a new firm and transfer its global home appliance business outside of Japan into it, with Arcelik then acquiring a 60% ownership of the new company. Both partners hope to establish this new joint venture in spring 2021, provided regulatory approval and other conditions are met. The transaction value of the deal is calculated to be USD300 million for the 60% stake.
Saudi-Egyptian Investment Fund to be activated soon arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.
In 2018 AstroLabs became the first international business incubator licensed in KSA Recent regulatory changes have opened up the Kingdom to foreign companies Image Credit: Supplied
Saudi Arabia is the largest economy in the Arab world and is rapidly becoming a top business destination for international investors. Its young population of over 30 million people is highly educated and one of the most connected online in the world. Recent regulatory changes have opened up the Kingdom to foreign companies in an unprecedented way, making this once closed-off economy accessible to all.
In 2018, AstroLabs expanded into the Kingdom from Dubai, becoming the first international business incubator licensed in Saudi Arabia and since then has assisted over 80 companies from around the world with their local setup process and soft landing office in Riyadh. Companies from the region and the world are starting to realize the large opportunity and fundamental chang