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International relations

Saudi market ripe for Japanese banks and theme parks

Crown Prince's reforms offer new scope for business ties

A man and his son enjoy sledding at a snow park in Riyadh. A liberalization drive by Crown Prince Mohammad bin Salman has companies operating in Saudi Arabia's leisure and entertainment industry excited.   © Reuters

RIYADH -- Japan and Saudi Arabia are broadening their cooperation, giving Japanese companies ranging from banks to theme park operators new opportunities for growth.

At the Saudi-Japan Vision 2030 business forum in Riyadh, the two sides signed seven memorandums of understanding including an agreement for Tokyo Electric Power Co. Holdings and Nissan Motor to conduct a feasibility study on electric vehicles.

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