FS concludes visit to Saudi Arabia (with photos/video)
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In the morning, Mr Chan met with the Governor of the Public Investment Fund (PIF), H.E. Mr Yasir Al-Rumayyan, to exchange views on deepening collaboration in the areas of investment and innovation and technology development between the two places. Mr Chan noted that over the past few years, Hong Kong and the PIF have built a solid foundation for co-operation across various sectors. He expressed hope that future collaboration can be further strengthened to contribute to the Belt and Road Initiative and support the development goals of Saudi Arabia's Vision 2030.
The visit yielded fruitful outcomes, including the signing of five agreements or memoranda of understanding (MoUs) between members of the Hong Kong delegation and local partners. These covered a wide range of areas, particularly innovation and technology and the digital economy. Mr Chan witnessed several of the signing ceremonies. Among them, the Hong Kong Trade Development Council and the Digital Cooperation Organization signed an MoU to promote the use of Hong Kong as a platform by start-ups and small and medium-sized enterprises (SMEs) from the organisation's member economies to access the Asia-Pacific market, while also supporting their digital transformation efforts.
In addition, three technology companies from Hong Kong and the Chinese Mainland - specialising respectively in artificial intelligence, smart sensing technologies and robotics — signed strategic co-operation agreements or MoUs with Saudi enterprises. The agreements cover areas such as technology application, business development and scenario implementation, further promoting the deployment and advancement of innovative technologies in the Middle East. Separately, an environmental technology company also signed an MoU with a local construction firm to facilitate the wider application of its technologies in Saudi Arabia.
Mr Chan also led the Hong Kong delegation on a visit to the flagship urban development project in Riyadh, New Murabba. During the visit, Mr Chan met with the Chief Executive Officer of the New Murabba Development Company, Mr Michael Dyke, and attended a business exchange session between the company and the Hong Kong delegation.
Mr Chan remarked that Hong Kong possesses internationally recognised strengths in urban planning, architectural design, engineering consultancy, construction technology innovation, as well as project management and financing. He noted the keen interest of Hong Kong professionals in participating in large-scale urban development projects abroad. He invited the New Murabba Development Company to conduct a roadshow in Hong Kong to identify suitable partners and explore financing opportunities, thereby fostering collaboration in city development and infrastructure between the two sides.
Mr Chan also attended two networking events yesterday: a high-level luncheon hosted by local bank SAB, and the "Hong Kong – Saudi Business Dinner" co-organised by the Hong Kong Economic and Trade Office in Dubai and Invest Hong Kong. At both events, Mr Chan delivered keynote speeches, in which he outlined Hong Kong's latest developments and competitive advantages, and engaged in exchanges with attendees.
Mr Chan emphasised that with the unique advantages of "one country, two systems", Hong Kong serves as a two-way platform connecting the Chinese Mainland with the rest of the world. It is well positioned to facilitate trade, investment, finance and cultural exchanges between China and the Middle East, as well as the wider region. He added that Hong Kong's strengths in finance, commerce, logistics, and innovation and technology, together with its integration with the Guangdong-Hong Kong-Macao Greater Bay Area, offer significant potential for broader collaboration with Saudi Arabia. He welcomed members of the Saudi business community to visit Hong Kong and the Greater Bay Area to explore co-operation opportunities and expand their business.
Mr Chan concluded his visit to Saudi Arabia last night (October 30, Riyadh time) and will return to Hong Kong at around noon time today (October 31, Hong Kong time).
Ends/Friday, October 31, 2025
Issued at HKT 9:00
Issued at HKT 9:00
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