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Saudi Arabia, Jordan Discuss Complementary Projects North of NEOM

A view of the NEOM project. (NEOM via Twitter)
A view of the NEOM project. (NEOM via Twitter)
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Saudi Arabia, Jordan Discuss Complementary Projects North of NEOM

A view of the NEOM project. (NEOM via Twitter)
A view of the NEOM project. (NEOM via Twitter)

Saudi Arabia and Jordan discussed last week efforts to activate the opportunities available north of NEOM project, from the Jordanian side.

Jordan’s side of the border boasts ports and ready infrastructure that could be used immediately for projects that serve both countries and boost Saudi Arabia’s Vision 2030 and the region.

Chairman of Jordan’s Investment Commission Khalid Wazani said the NEOM project is attracting more Saudi-Jordanian investments that will be established in the Aqaba port city, including the enhancement of the existing business there.

He pointed out that the Jordanian side of NEOM includes Aqaba port and Marsa Zayed. It is expected to become a platform for exchange of expertise and consultations that will yield complementary projects related to NEOM.

This will make it easier for investors to benefit from the port, Wazani noted.

In a statement Friday, he stressed that the expected results, convergence of views and the achievement of some of the project’s objectives will serve Saudi Vision 2030 and the region in general, including Egypt and Jordan, which are part of NEOM.

He made his remarks following a meeting in Riyadh with member of the Board of Directors and Chairman of the Securities and Investment Committee at the Riyadh Chamber of Commerce Mohammed al-Sayer.

The meeting was attended by a number of Jordanian officials and investors from both countries representing different sectors.

In October 2017, the $500 billion NEOM project was launched by Saudi Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense.

Located in the Kingdom’s far northwest, NEOM will provide opportunities for development with a total area of 460 km on the banks of the Red Sea and a total area of 26,500 square meters.

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Riyadh, Tokyo Seek to Expand Cooperation in Clean Energy Technology and Green Hydrogen

Construction work at Expo Osaka 2025 exhibition in Japan. Asharq Al-Awsat
Construction work at Expo Osaka 2025 exhibition in Japan. Asharq Al-Awsat
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Riyadh, Tokyo Seek to Expand Cooperation in Clean Energy Technology and Green Hydrogen

Construction work at Expo Osaka 2025 exhibition in Japan. Asharq Al-Awsat
Construction work at Expo Osaka 2025 exhibition in Japan. Asharq Al-Awsat

Tokyo has said it was willing to expand cooperation with Riyadh in areas such as new sensitive technologies, clean energy technology, green hydrogen and ammonia production, while working on a plan to increase trade with the Kingdom and deepen research and scientific cooperation.

Several departments in Japan's Ministry of Economy, Trade, and Industry told Asharq Al-Awsat that Japanese-Saudi dialogue on clean energy is ongoing, lauding the signing of a memorandum of understanding (MoU) in clean energy and clean ammonia in 2022, as well as an MoU on carbon recycling between the two countries.

The ministry told Asharq Al-Awsat that the objective is to achieve zero carbon by 2050 in Japan and by 2060 in Saudi Arabia. It said Saudi Arabia has natural resources in solar and wind energy, along with minerals that enable Japan to provide energy efficiency technology and materials, fostering integration between the two countries in the relevant fields.

It also said that Saudi Arabia is Japan's top destination for crude oil imports, accounting for 40%. The Japanese government will continue to cooperate in the energy sector, the ministry added. Additionally, the government is encouraging the private sector and Japanese companies to invest in the Kingdom, and expects to expand bilateral work in areas such as mining, clean energy, green hydrogen, and ammonia.

Professor Gento Mogi, Deputy Director of the Mohammed bin Salman Center for Future Sciences and Technology for Saudi-Japan Vision 2030 (MbSC2030) at the University of Tokyo, told Asharq Al-Awsat that the cooperation supported by the center goes beyond relying on trade, crude oil purchases, and technology products and cars. It includes training and development for human resources, academics, researchers, and scholarship students, with 16 projects involving 15 university professors.

According to Mogi, the University has dedicated part of its cooperation with institutions, centers, and academic institutes outside the university, and in Saudi Arabia, it is implementing a five-year initiative that will end in June 2025, with hopes of extending it for another five years.

Saudi-Japanese trade

The Japan External Trade Organization (JETRO) expects an increase in bilateral trade, indicating that Japan exported products worth $6.359 billion, including cars, technology, and electronics, while it imported from Saudi Arabia goods worth more than $34 billion, with 98% of that being crude oil.

JETRO revealed to Asharq Al-Awsat its plan to increase infrastructure products and establish smart cities to enhance cooperation between the two countries, saying Saudi Arabia's Vision 2030 has opened broad opportunities for collaboration between the countries.

JETRO also said that it is working to meet a rising Saudi demand for Japanese products, as well as an increasing interest in Saudi products. Joint exhibitions between companies in both countries are working to boost trade and demand for Saudi-Japanese products, it added.

The operations department of the Expo Osaka 2025 exhibition confirmed that Saudi Arabia will have a strong participation in the exhibition.