A Hong Kong delegation led by Financial Secretary Paul Chan Mo-po to Saudi Arabia achieved five partnerships, deepening collaboration in investment and technology.
Chan concluded his visits in Riyadh, Saudi Arabia, yesterday.
The visit led to the signing of five agreements or Memoranda of Understanding between delegation members and local partners, further promoting exchange and cooperation in innovation, technology, and the digital economy. He witnessed several signing ceremonies.
These included a MoU between the Hong Kong Trade Development Council and the Digital Cooperation Organization, which aims to help startups and small- and medium-sized enterprises from the organization’s member economies use Hong Kong as a platform to expand into the Asia-Pacific market, while also supporting their digital transformation.
Furthermore, three technology companies from Hong Kong and the Mainland, specializing in artificial intelligence, spatial awareness technology, and robotics respectively, signed strategic cooperation agreements or MoUs with Saudi companies.
These cover technology application, business expansion, and application scenarios, further promoting the development of innovative technologies in the Middle East market.
Separately, an environmental technology company had previously signed an MoU with a local construction firm for the widespread application of its technology in Saudi Arabia.
Chan also led the Hong Kong delegation on a visit to the New Murabba project, a flagship urban development in Riyadh. During the visit, he met with the company’s chief executive and attended an exchange session.
Chan said that Hong Kong possesses international competitiveness in urban planning, architectural design, engineering consultancy, construction technology innovation, and project management and financing. He expressed that the industry has a strong interest in participating in large-scale urban construction projects overseas.
Earlier in the day, Chan met with Yasir Al-Rumayyan, the Governor of the Public Investment Fund of Saudi Arabia. They discussed further deepening cooperation in investment and in the development of the innovation and technology industries in both places.
Chan noted that Hong Kong and the PIF have built a solid foundation for cooperation across several areas in recent years.
Cooperation could be strengthened in the future to contribute to the joint pursuit of the Belt and Road Initiative and support Saudi Arabia’s Vision 2030 development goals, Chan added.
