The Belt and Road Office (BRO) and the Ministry of Investment of Saudi Arabia (MISA) signed a Memorandum of Understanding (MOU) today (August 29) to enhance information exchange in relation to the fields of infrastructure and construction, and for MISA to provide support to related professional services in Hong Kong to access the Saudi Arabian market.

     Witnessed by the Chief Executive, Mr John Lee, and the Minister of Investment of Saudi Arabia, Mr Khalid Al-Falih, the MOU was signed by the Commissioner for Belt and Road, Mr Nicholas Ho, and the Assistant Deputy for Services Sectors of the MISA, Mr Fahad M Alhashem.

     "I led a high-level Hong Kong Special Administrative Region delegation to Saudi Arabia in 2023, strengthening the foundation for the long-term development of Hong Kong businesses in the Middle East region. This MOU marks another significant milestone in the collaboration between the two sides under the Belt and Road Initiative (B&RI), especially as it is the first of its kind signed between Hong Kong and an overseas economy in this area of co-operation. As a leading international hub for finance, shipping and trade that is fast-rising as an international innovation and technology centre, Hong Kong is well positioned to support Saudi Arabia's Vision 2030. Our professional services, ranging from finance, technology and architecture to engineering and legal services, could contribute significantly to the development of signature projects in Saudi Arabia and beyond. I am confident that this MOU will further strengthen the bilateral ties between the two economies," Mr Lee said.

     Under the MOU, the MISA would provide information on infrastructure and construction projects to Hong Kong and seek to overcome obstacles that Hong Kong companies may face in accessing the Saudi Arabian market, while BRO would share information on Hong Kong's professional services with the MISA, with a view to utilising each other's platform for investment promotion, tendering and fundraising.

     Apart from signing the MOU, Hong Kong and Saudi Arabia are negotiating an Investment Promotion and Protection Agreement, which aims to protect, enhance and open investment and helps strengthen investor confidence and increase bilateral investment flows for boosting closer economic relations between the two places.

Ends/Friday, August 29, 2025
Issued at HKT 20:17

NNNN