A business delegation jointly organized by the Government of the Hong Kong Special Administrative Region and the Hong Kong Trade Development Council concluded a significant mission to Riyadh from October 27 to 31, 2025. Led by Financial Secretary Paul Chan, the delegation participated in the Future Investment Initiative Summit and engaged in extensive business meetings to strengthen economic cooperation between Hong Kong and Saudi Arabia. The mission focused on promoting collaboration in key growth areas including innovation and technology, smart city development, artificial intelligence, fintech, and biotechnology.
These sectors align directly with Saudi Arabia's Vision 2030, which aims to transform the country from an oil-dependent economy to a private sector-led, open economy. Saudi Arabia represents Hong Kong's fourth-largest trading partner and third-largest export market in the Middle East region, with a GDP of US$1.084 trillion in 2024. During the visit, Financial Secretary Paul Chan shared Hong Kong's experience in promoting various public-private partnership models at the FII Summit. He highlighted the HKSAR Government's efforts to expedite development of the Northern Metropolis as a new engine for economic diversification and a key base for innovation and technology industries.
The delegation comprised approximately 40 representatives from sectors targeted by Saudi Arabia's economic transformation plans. The business engagements included meetings with major Saudi institutions including Saudi Awwal Bank, Saudi National Bank, Riyadh Chamber of Commerce and Industry, and Saudi Chinese Business Council. Delegates also visited significant development projects such as Diriyah Gate Development Authority, Red Sea Global, the New Murabba smart city, and The Garage technology park. These visits facilitated exchanges in investment opportunities, cross-border finance, market expansion strategies, academic collaboration, and professional services.
A key outcome of the mission was the Hong Kong-Saudi Arabia Business Dinner, which served as a platform for in-depth discussions between Saudi enterprises and the Hong Kong delegation. The event resulted in the signing of multiple memoranda of understanding and cooperation agreements covering smart mobility, green energy, artificial intelligence, robotics, and digital transformation. Specific agreements included partnerships between the Hong Kong Trade Development Council and Digital Cooperation Organization, Beijing Yunji Technology Co., Ltd and Young Life Travel and Tourism Co., Limited, I2Cool Company Limited and Madar Building Materials Company Limited, Maphive Technology Limited and Arabian Business Machines Company, and Shenzhen RabbitPre Intelligence Technology Co., Ltd and HIBOBI Technology Limited.
Anna Cheung, Assistant Executive Director of the HKTDC, emphasized the importance of the mission in helping Hong Kong and mainland enterprises based in the city explore new business opportunities. She noted that the HKTDC will continue to promote bilateral cooperation through exhibitions, forums, overseas missions, and business matching activities. The organization anticipates more Saudi enterprises leveraging Hong Kong as a gateway to the Chinese Mainland and wider Asian markets, reinforcing Hong Kong's role as a superconnector and super value-adder in global trade. For additional information about the HKTDC's activities, visit https://www.hktdc.com/aboutus.
