SAGIA, MUFG sign deal to promote Japanese investments in Saudi Arabia

MUFG Bank today announced it has signed an agreement with the Saudi Arabian General Investment Authority (SAGIA) to promote Japanese investments in the Kingdom.

The agreement is part of the framework for cooperation between SAGIA and MUFG Bank, which has been offering support to Japanese corporations and investors in the Kingdom since 2017, when the first framework between the two parties was signed.

The new agreement allows MUFG Bank to further enhance cooperation with SAGIA in new areas, and work on promoting Japanese investments in the Kingdom, as well as to provide a broader range of services to corporate clients.

In October 2018, MUFG Bank opened an office in Riyadh to become the first Japanese bank  offering full services for corporate clients, including deposits, foreign exchange and settlements.