[Brief translation]
RIYADH - Khalid M. Al-Gosaibi, Minister of Economy and Planning has invited Japanese businessmen and investors to invest in Kingdom's non-oil sector - especially manufacturing.
Al-Gosaibi said because of its ongoing economic liberalization and privatization plans, the Kingdom can be a hub for foreign investors.
Currently, Japanese investment in Saudi Arabia through 11 joint amounts to roughly $2.2 billion.
Nakamura said one Japanese company has received a license from SAGIA for a joint venture to build a power generation project using ocean water.
Since its establishment in 2000, Saudi Arabian General Investment Authority (SAGIA) has approved over 2,100 projects amounting to SR58 billion, 83 percent of which comes from foreign investors.