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 SIDF Signs MoU with MUFG to Boost Cooperation and Industrial Investment

 

 

On Tuesday 19th of June 2019, the Saudi Industrial Development Fund (SIDF) has signed a Memorandum of Understanding (MoU) with MUFG Bank that will contribute in increasing industrial investments and cooperation between the two countries.

 

The MoU that was signed by Mr. Abdulaziz Abdullah Alzaid, Advisor to Director General, SIDF and Mr. Masato Miyachi, Chief Executive of Global Corporate & Investment Banking Business Unit and Member of the Board of Directors, MUFG Bank, aims at strengthening the relationship between the Fund and the MUFG through establishing a framework to develop a stronger relationship between the two parties in order to increase industrial development opportunities in the Kingdom by attracting Japanese investors interested in investing in the Fund's industrial and investment projects. In addition to MUFG providing consultancy on the project financing structure of the Fund's new sectors.

 

The signing of the MoU came on the sidelines of the Saudi-Japan Vision 2030 Business Forum in Tokyo, which was attended by 24 Saudi entities and 300 Japanese companies to discuss the requirements of reaching effective partnerships between the two countries as well as discussing important investment opportunities in the Kingdom, especially in energy, mining, logistics, infrastructure and other sectors.

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