Koichi Nakagawa, Research Director and Chief Consultant at the Mitsubishi Research Institute (MRI) Middle East, revealed that Mitsubishi is planning to launch a number of understandings in Riyadh to strengthen partnerships with Saudi government agencies in the field of research and consultancy.
These understandings would help transfer knowledge and technologies in the fields of energy, agriculture, and health and come at a time Saudi Arabia is looking to localize industrial and economic expertise, he told Asharq Al-Awsat.
The company implements 1,800 annual projects for government and private companies daily, he revealed.
By doing this, Mitsubishi looks to open the door for cooperation with the Japanese government and technology providers with wide-ranging solutions to deal with climate change.
Such cooperation could boost energy sector sustainability, help develop new industries and businesses.
It also works to transfer hydrogen and ammonia technology and expertise in high-efficiency equipment, district cooling, infrastructure management, development and use of alternative fuels.
Nakagawa told Asharq Al-Awsat that the MRI chose Saudi Arabia as the first regional platform in the Middle East to launch its research and consultancy work because of the Kingdom's pivotal role in the region, the strength of its economy, and its new initiatives that emerge from Kingdom Vision 2030.
He said he was looking forward to the signing of agreements with several government agencies to launch MRI’s activities in Riyadh, and from there to all parts of the world.
He confirmed that he discussed ways of cooperation with the Ministry of Energy, especially means of transferring knowledge and consultations in the field of technology and renewable energy.
He also contacted the Ministry of Agriculture to maximize knowledge experiences in the field of agricultural and food production. Nakagawa also conducted talks related to health care technology.
He discussed with the King Abdullah University of Science and Technology efforts for maximizing the green and climate economies.
Nakagawa pointed out that “the Saudi market is huge and full of opportunities.”
He emphasized that Saudi regulations are working to attract foreign investment considering the recently launched mega projects and green initiatives, as well as the Saudi drive to promote sustainable development and the green economy.
He stressed that cooperation in the field of research and consultancy between Riyadh and Tokyo is witnessing a new era, stressing that his country gives the Kingdom special attention and is working to strengthen cooperation with it in various fields.
Tokyo is eyeing energy cooperation with Riyadh, revealed Nakagawa, noting the work and research that Saudi Arabia will undertake related to climate change, circular economy, renewable energy, and energy conservation.
Nakagawa explained that 24% of MRI’s work goes to government agencies, while up to 31% is in the field of industries. Around 45% of MRI’s activities focus on projects with financial institutions, while the rest goes to information technology solutions.