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Friday, 10 February 2023, 13:00 HKT/SGT
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Source: HKTDC
Hong Kong's Middle East mission lays groundwork for new business opportunities
13 MoUs showcase Hong Kong strengths in finance, trade, tech and sustainability

HONG KONG, Feb 10, 2023 - (ACN Newswire) - Since the recent reopening of the Hong Kong-mainland border, the Hong Kong Trade Development Council (HKTDC) embarked on a week-long business mission to the Middle East, led by Mr John Lee, Chief Executive of the Hong Kong Special Administrative Region (HKSAR).

The Hong Kong business delegation signed 13 MoUs during this trip. In this photo, HKTDC and Abu Dhabi Chamber of Commerce and Industry signed an MoUs at the Abu Dhabi-Hong Kong Business Forum on 7 February.

The Hong Kong delegation engaged with senior representatives of government, local Chambers of Commerce and key corporations via business meetings and seminars. In this photo, they are on a company visit to SABIC, the leading petrochemicals manufacturer in the Middle East.

Led by Mr John Lee, HKSAR Chief Executive, the delegation visited various companies in Saudi Arabia and the UAE to learn about the latest developments. Here, the group visit THE LINE Experience exhibition (NEOM) showcasing innovative urban designs of the futuristic city NEOM.

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

The signing of 13 Memoranda of Understanding (MoU) during the mission signals new collaboration opportunities between Hong Kong and Middle East companies and organisations in business, finance, innovation and technology, sustainability and transport.

Over 30 business leaders from finance, logistics, technology and professional services joined the mission to Riyadh, Abu Dhabi and Dubai.

By showcasing Hong Kong's strengths through business and official exchanges and proactive publicity, the mission deepened economic and trade relations and enhanced cultural exchange between Hong Kong and Saudi Arabia and the United Arab Emirates (UAE), helping Hong Kong attract investment and talent. It also solidified Hong Kong's role as the global gateway to Mainland China and a leading business and investment hub in Asia.

The Hong Kong delegation met with senior representatives of government, local Chambers of Commerce, including the Saudi Chinese Business Council, Abu Dhabi Chamber of Commerce & Industry, Invest in Sharjah and Dubai Chambers, the last of which also announced the establishment of a Hong Kong office yesterday.

HKTDC Chairman Dr Peter K N Lam said, "The Middle East has an important role to play in driving the global economy and has important strategic significance in supporting the development of the Belt and Road. As Hong Kong reopens to the world, we have lost no time in organising this Hong Kong business delegation to the Middle East, led by the Chief Executive and three principal officials. Apart from presenting Hong Kong's latest incentives and policies to attract investment and talent, we also introduced new opportunities arising from the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and encouraged UAE and Saudi companies to take advantage of Hong Kong's investment and business platforms."

Dr Lam added, "From our meetings and visits, we saw that Saudi Arabia and the UAE welcome deeper and broader ties with Hong Kong to support their strategic development. I am delighted that many MoUs have been signed across many sectors. These will lay a solid foundation for future long-term cooperation. With our 50 offices around the world, the HKTDC will continue to help businesses open doors and to promote Hong Kong as a global business hub."

Apart from over 30 international trade fairs and conferences in Hong Kong, the HKTDC organises large-scale overseas mega promotions, such as Think Business, Think Hong Kong, which will be held in Thailand in July to promote the Hong Kong brand together with the Hong Kong family of organisations.

The MoUs signed during this mission include:

1. Hong Kong Exchanges and Clearing Limited (HKEX) and Saudi Tadawul Group Holding Company
2. SenseTime and King Abdullah Financial District (KAFD) (Letter of Intent)
3. Hong Kong General Chamber of Commerce (HKGCC) and Riyadh Chamber
4. Templewater Ltd, Bravo Transport Services Ltd and Wisdom Motors (Hong Kong) Ltd and Nesma Holding Ltd
5. SenseTime and Sela Company (Letter of Intent)
6. Hutchison and King Salman Energy Park (SPARK)
7. HKTDC and Dubai Chamber
8. Ho & Partners Architects, Negawatt, Masdar City, and The Catalyst
9. HKSTP and Sharjah Research Technology & Innovation Park
10. Hong Kong Cyberport and Dubai Future Foundation
11. HKTDC and Invest in Sharjah
12. HKTDC and Abu Dhabi Chamber of Commerce & Industry
13. Federation of Hong Kong Industries (FHKI) and Abu Dhabi Chamber of Commerce & Industry

Photo Download: https://bit.ly/3DY0O2i

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Media enquiries
Please contact the HKTDC's Communications and Public Affairs Department:
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org
Sam Ho, Tel: +852 2584 4569, Email: sam.sy.ho@hktdc.org


Topic: Press release summary
Source: HKTDC

Sectors: Trade Shows, Exchanges & Software, Daily Finance, Daily News, Local Biz, Government
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