A delegation of business leaders from the Hong Kong Special Administrative Region led by the city’s chief executive Mr. John Lee and principal government officials were in Riyadh to explore collaboration opportunities with the business community of Saudi Arabia.

Over the two days in the Kindgom, the delegation discussed with Saudi government and industry leaders how Hong Kong can facilitate the Kingdom’s strategic development via its role as a global financial hub and China’s international gateway.

The 30-strong delegation includes senior executives from Hong Kong’s financial institutions and regulator as well as major players in innovation and technology, sustainability and smart city solutions.

Riyadh was the first of three stops on the week-long mission to the Middle East organised by the Hong Kong Trade Development Council.

At a press conference followed by an Investment Forum and dinner officiated by the Saudi Minister of Investment H.E. Khalid Al-Falih and attended by some 300 Saudi Arabian guests.

“Saudi Arabia is a strong economy of the Gulf region and a growing source of foreign direct investment. Driven by Vision 2030, the dynamic blueprint for the future, Saudi Arabia is destined to take its place as an economic powerhouse built on diversity, sustainability, and innovation and technology. Hong Kong has long been the Asia-Pacific region’s multi-level bridge for foreign and Mainland Chinese businesses and investors. As integration with the Mainland continues to deepen, so too do opportunities for Hong Kong and the economies and companies that works with Hong Kong,” said chief executive Mr. John Lee.

Mr. Lee was joined by Deputy Secretary of Justice Mr. Horace Cheung, Secretary for Financial Services and Treasury Mr. Christopher Hui, and Secretary for Commerce and Economic Development Mr, Algernon Yau.

At the forum, H.E. Khalid A Alfalih stated:” Saudi Arabia has the largest regulated capital markets in the region, with the largest stock exchange in the MENA region. Due to evolving trends, we are also making efforts, to strengthen global supply chains and have launched a dedicated global supply chain resilience initiative. This will be a great opportunity for China and Hong Kong-based companies to use the KSA as a platform for adding value to products customised for the Middle East region and beyond.”

The delegation met with key enterprises in Riyadh to exchange ideas and learn more about Saudi Arabia’s Vision 2030. They visited major institutions, such as the Saudi Stock Exchange and the NEOM exhibition. The delegation also travelled to Abu Dhabi and then Dubai, to meet with senior government and business leaders of the United Arab Emirates.

Source: ASN Newswire