MUFG Signs Agreement with Saudi Arabian General Investment Authority to promote Japanese investment in the Kingdom

MUFG Signs Agreement with Saudi Arabian General Investment Authority to promote Japanese investment in the Kingdom
23.10.2019 12:48 pm

MUFG Signs Agreement with Saudi Arabian General Investment Authority to promote Japanese investment in the Kingdom

Investment Management , Banking

MUFG Bank today announced it has signed an agreement with the Saudi Arabian General Investment Authority (SAGIA) to promote Japanese investment in the Kingdom of Saudi Arabia.

The agreement is part of the Framework for Co-operation between SAGIA and MUFG Bank, which has been offering support to Japanese corporations and investors in the Kingdom since 2017, when the first Framework between the two parties was signed. The new agreement allows MUFG Bank to further enhance the bilateral cooperation in new areas, and to work with SAGIA on promoting Japanese investments in the Kingdom, as well as to provide a broader range of on- the-ground services to corporate clients.

SAGIA is a government body whose main objective is to oversee investment affairs, including foreign investment, in the Kingdom. As part of the economic development of the Kingdom, SAGIA is working to create a business-friendly environment, service investors and foster investment opportunities in the country.

The Kingdom has some of the largest oil reserves in the world and is a major producer and exporter of energy. In addition to having the largest economy in the Middle East, the Kingdom has a promising market with a population of over 30 million. It is also a member of the G20 and has a strong presence as one of the leading countries in the Middle East and North Africa. Increasing foreign direct investment in the Kingdom is one of the most important targets of Saudi Vision 2030, a long-term economic blueprint for the country.

MUFG Bank opened its office in the Kingdom’s capital Riyadh in October last year, becoming the first branch of a Japanese bank in the country to offer full banking services for corporate clients, including deposits, foreign exchange and settlements.

Related News

Aqua to Use Big Data and AI to Create Tradable Assets and Analytics Based on Individuals

Aqua Digital Rising, the new and innovative alternative-asset and analytics investment platform, has announced the start of its pre-funding round as it... Read more »

Allianz Global Investors Selects thinkFolio Managed Service to Drive Global Fixed Income Platform Evolution

Allianz Global Investors, a leading active asset manager, has adopted IHS Markit's leading investment management platform, thinkFolio... Read more »

66% of P2P Investors Say Reliability is of Essence

A survey carried out by the European P2P lending platform Robo.cash shows that... Read more »

thinkFolio and Investor Access advance fixed income primary market workflow

thinkFolio, a leading multi-asset class investment management platform... Read more »

7 out of 10 investors to increase P2P portfolios after the crisis

According to a survey conducted by the P2P lending platform Robo.cash, 68% of P2P investors... Read more »

COVID-19 accelerates shift in expectations for investment advice, finds DIAMAN survey

Investor perceptions towards investment advice have changed as a result of COVID-19 induced volatility, according to key findings from DIAMAN Partners Ltd. (DIAMAN)... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel