Saudi Arabia is strengthening its economic relationships with China and Japan through a series of high-level ministerial visits focused on expanding industrial cooperation, technology transfer, and private-sector investment.
Expanding Industrial Cooperation with China
In Beijing, His Excellency Bandar Alkhorayef, Minister of Industry and Mineral Resources, met with leaders of ZGC Group—a major Chinese innovation platform—to discuss collaboration in advanced manufacturing, renewable energy, smart mobility, and aerospace. Plans were outlined for ZGC to establish operations in Riyadh with support from the National Industrial Development and Logistics Program. According to official statistics, China remains Saudi Arabia’s top trading partner, accounting for 14 percent of the Kingdom’s exports and 28.9 percent of its imports in May.
His Excellency Bandar Alkhorayef’s visit included meetings with senior Chinese officials and major industrial firms, focusing on technology transfer and investment opportunities in Saudi Arabia. The ministry will also sign a work plan with the China Mining Association to boost cooperation and knowledge exchange in the mining sector, supporting Saudi Arabia’s Vision 2030 goals.
ZGC Group showcased its capabilities in areas such as helicopters, drones, autonomous vehicles, and energy storage. Companies like FlightWin and UISEE align with the Kingdom’s ambitions to localize defense procurement and advance smart city logistics. Saudi Arabia aims to generate half of its electricity from renewable sources by 2030, increasing demand for large-scale energy storage.
The Saudi delegation included Saleh Al-Solami, CEO of the National Industrial Development Center, and Jamil Al-Ghamdi, acting CEO of NIDLP, alongside other senior officials.
Deepening Strategic Partnerships with Japan
Meanwhile, in Japan, His Excellency Khalid Al-Falih, Minister of Investment, led the 8th Saudi-Japan Vision 2030 Committee with Japan’s Minister of Economy, Trade and Industry Yoji Muto and State Minister for Foreign Affairs Hisayuki Fujii. The meeting reaffirmed both countries’ commitment to Vision 2030 and concluded with the signing of official minutes.
Trade between Saudi Arabia and Japan reached $138.2 billion in 2024, with Japan ranking as the Kingdom’s third-largest trading partner and Japanese investment totaling $23.1 billion, according to official sources. Investments focus on energy, water, transport, logistics, and manufacturing.
His Excellency Khalid Al-Falih also chaired the Saudi-Japan Financial Roundtable, bringing together 40 senior leaders from Japan’s top industrial firms. The event launched the Ministry of Investment–Keidanren Strategic Investment Platform, designed to encourage high-quality investments and private-sector collaboration. Prince Faisal bin Bandar bin Sultan, chairman of the Saudi Esports Federation, and Masayuki Hyodo, vice chair of Keidanren, participated in the discussions.
These visits underscore Saudi Arabia’s ongoing efforts to diversify its economy and deepen strategic partnerships with leading Asian economies.
