Saudi plans to double Japan investments to $27B by 2030

Saudi Arabia’s sovereign wealth fund is planning to more than double its investments in Japan by 2030.

Public Investment Fund had invested $11.5 billion in Japan by the end of 2024, but Governor Yasir Al-Rumayyan said at the Future Investment Initiative conference in Tokyo that the figure would reach “about $27 billion by the end of 2030.” He praised Japan’s leadership for shifting the country’s economy away from savings and promoting investment and consumption.

Japan has increasingly been catching the attention of Gulf investors as its stock market soars and governance reforms encourage corporate dealmaking. In November, the Qatar Investment Authority launched a $2.5 billion investment fund, with Tokyo-based asset manager ORIX, focused on Japanese buyouts, and last year PIF signed preliminary agreements with five Japanese lenders worth up to $51 billion.

Japan is already one of Saudi Arabia’s top trading partners, driven by the kingdom’s oil exports and purchases of Japanese cars, machinery, and electronics.