Yasir Al-Rumayyan, Governor of Saudi Arabia’s Public Investment Fund (PIF) and Chairman of the Future Investment Initiative (FII) Institute, announced that the Kingdom is aiming to increase its investments in Japan to $27 billion by 2030.
Speaking at the FII Priority Asia Summit in Tokyo, held under the theme “New Asia,” Al-Rumayyan described Japan as a “principal partner” for Saudi Arabia, noting that 39% of Japan’s oil imports come from the Kingdom.
He said PIF invested $11.5 billion in Japan between 2017 and 2024, adding: “We expect this figure to rise to $27 billion by the end of 2030.”
These investments currently contribute an estimated $6.7 billion to Japan’s GDP, a figure he hopes will reach $16.6 billion by the end of the decade.
He further highlighted a series of memorandums of understanding signed last October with major Japanese financial institutions, including Mizuho Bank, Sumitomo Mitsui Financial Group, MUFG Bank, Nippon Export and Investment Insurance (NEXI), and the Japan Bank for International Cooperation (JBIC).
Valued at more than $51 billion, the agreements aim to stimulate bilateral capital flows through debt instruments and capital-market cooperation.
At the end of last year, Mizuho Financial Group launched the One ETF FTSE Saudi Arabia Index, now listed on the Tokyo Stock Exchange. With an initial market capitalization exceeding 15 billion Yens, it has become the largest Japan-listed ETF focused exclusively on the Saudi market. Both PIF and Mizuho are anchor investors in the fund.
Al-Rumayyan outlined sectors where he sees strong potential for Japanese companies in Saudi Arabia, including tourism, travel, entertainment, advanced manufacturing, and innovation. He also emphasized promising opportunities in industrial development, logistics, clean energy, and renewable infrastructure.
He stressed the importance of critical minerals in the electric-vehicle and AI era, noting that Saudi Arabia’s extractable mineral resources exceed $2.5 trillion, including significant reserves of uranium and cobalt. The Saudi mining company Maaden is expanding its investments to support growth in EVs, batteries, and other strategic industries.
During a special session on artificial intelligence, Al-Rumayyan said Saudi Arabia is well positioned to become a global AI hub, citing its energy capacity, land availability, and government commitment to building the sector.
These initiatives, he said, reinforce the Kingdom’s commitment to “investing for the future” and strengthening Asia’s role as a global center of innovation.
Tokyo Governor Yuriko Koike officially opened the summit, highlighting Asia’s dynamic role in shaping the future of trade, technology, and investment. She called on global leaders to take bold action and deepen collaboration to drive the region into a new era of prosperity.
Prince Faisal bin Bandar bin Sultan Al Saud, President of the Saudi Esports Federation and Vice Chairman of Savvy Games Group, emphasized the importance of youth development and infrastructure in advancing the esports industry.
Hiromi Yamaji, CEO of the Japan Exchange Group, said Japan’s markets are experiencing renewed momentum driven by an exit from decades of deflation, rising foreign-investor interest, and significant progress in corporate governance.
Alongside the summit, the FII Institute released the fifth edition of the Global Future of Work Compass, focusing on Asia. Based on surveys of 200 companies and 100 young people across nine major Asian economies, the report identifies emerging risks and opportunities related to AI automation and youth skills.
The Institute also unveiled the Global Future of Work Navigator, a digital platform that compiles regional insights into a comparative interface for policymakers.
The report shows that Asia accounts for 25% of global R&D and 70% of patent applications, driven largely by China, Japan, South Korea, and Singapore. But adoption of AI varies sharply: only 64% of executives in Japan expect to use AI within five years, the lowest rate in the region, compared with 86% in emerging Asian markets, where companies still face constraints such as limited size and funding.
Skills gaps are also widening. STEM graduates make up about 40% of China’s workforce, versus 20% in Japan, where 81% of employers report difficulty hiring qualified talent.
