Hong Kong Chief Executive John Lee welcomes a visiting Saudi Arabia delegation led by Minister of Communications and Information Technology Abdullah Alswaha at Hong Kong Science and Technology Parks on July 2, 2023. [Photo by eWTPA/Provided to chinadaily.com.cn]
Cooperation of Chinese startups and other businesses in telecom and information technology is lifted again by the ongoing visit of a Saudi Arabia delegation led by Minister of Communications and Information Technology Abdullah Alswaha with agreements and exchanges.
The Saudi delegation, the first official tour of senior government officials since the China-Saudi Arabia Summit last December, visited Hong Kong on July 2 before coming to the Chinese mainland.
Welcoming the Saudi delegation in Hong Kong Special Administrative Region on July 2, Hong Kong Chief Executive John Lee Ka-chiu said he has felt "a deep sense of warmth and friendship" in the exchanges since his visit to Saudi Arabia in February.
Lee said that Hong Kong's annual Belt and Road Summit will celebrate the 10th anniversary of the Belt and Road Initiative in September and will feature a dedicated Middle East forum for the first time.
Alswaha, the Saudi minister, said he is ready to join hands and harmonize Saudi Arabia's "Vision 2030" with the BRI.
"Saudi Arabia's 'Vision 2030' is built on innovation and technology. Hong Kong shares that vision," Lee said.
Hong Kong Chief Executive John Lee, center, attends the "One Gateway Shared Vision — Hong Kong Special Administrative Region x Kingdom of Saudi Arabia" Gala Dinner on July 2, welcoming Minister of Communications and Information Technology of Saudi Arabia Abdullah Alswaha (fifth left) and his delegation. Secretary for Innovation, Technology and Industry Sun Dong (fourth left), Chairman of the Hong Kong Science and Technology Parks Corporation Sunny Chai (third right); Chief Executive Officer of the Hong Kong Exchanges and Clearing Limited Nicolas Aguzin (third left), Commissioner for Innovation and Technology of Hong Kong Ivan K B Lee, (second left), Science and Technology Parks Corporation CEO Albert Wong (first right), and Jerry Li, founding managing partner of eWTPA and director-general of the Saudi Arabia-China Entrepreneurs Association (first left) and other guests participated. [Photo by eWTPA/Provided to chinadaily.com.cn]
The two attended a special event titled "One Gateway Shared Vision — Hong Kong Special Administrative Region and Kingdom of Saudi Arabia", which was co-hosted by Hong Kong Science and Technology Parks Corporation (HKSTP) and Riyadh-based eWTP Arabia Capital.
Saudi Arabia's Future Investment Initiative Institute, or FII Institute, which has been organizing its various annual global gatherings in Riyadh, will host its first priority Asia summit in Hong Kong this December.
Lee said his government has prioritized revitalizing its relations with the Middle East in general and Saudi Arabia in particular. Hong Kong's innovation and technology development blueprint, released six months ago, outlined the city's commitment to new industrialization and its rise as an international I&T center.
"They include integrating into the overall development of our country and consolidating our role as a bridge connecting the mainland and the world. We are well on our way to doing just that," Lee said, adding that Hong Kong now boasts about 4,000 startups and 10 unicorns — privately held startups with a value of over $1 billion each.
The chief executive then invited the Saudi delegation to explore opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area. Lee said his government is also boosting technology collaboration between Hong Kong "and our fellow cities in the Greater Bay Area", the cluster city development integrating Hong Kong, Macao and nine cities in Guangdong province.
The Greater Bay Area unites some 86 million consumers and has a GDP of about $1.7 trillion. The GBA market presents boundless opportunities for tech companies, startups and talent. "I welcome our friends from Saudi Arabia and the Middle East to join us in building an innovative future right here in Hong Kong," Lee said.
Minister of Communications and Information Technology of Saudi Arabia Abdullah Alswaha addresses the "One Gateway Shared Vision — Hong Kong Special Administrative Region x Kingdom of Saudi Arabia" Gala Dinner on July 2, 2023. [Photo by eWTPA/Provided to chinadaily.com.cn]
The Saudi delegation had a brief tour of the HKSTP and interacted with startup company executives before the event.
Impressed by what he has experienced in HKSTP, Minister Alswaha said it is an opportunity for Saudi Arabia to diversify to a factor-based economy "to join hands with you and build an innovation bridge and a gateway for humanity", including empowering youths and women. Saudi Arabia recently succeeded in sending the first Muslim woman astronaut to the International Space Station.
He said that with Hong Kong and the entire China startup community, Saudi Arabia has delivered the largest, most sustainable eco-tourism project in MENA region— the Red Sea Project.
"If there's a gateway for humanity and a partnership for life to join hands and how we can continue to empower people, safeguard the planet, it is definitely this partnership between the kingdom and Hong Kong," the minister said.
HKSTP Chairman Sunny Chai Ngai-chiu addresses the gathering on July 2, 2023. [Photo by Lesley Liu/chinadaily.com.cn]
HKSTP Chairman Sunny Chai Ngai-chiu said that Hong Kong and Saudi markets offer complementary values.
"I'm proud to see our park companies grow in our city and scale into Saudi Arabia, as well as the new paths being paved for Saudi companies to come to Hong Kong. Greater collaboration, understanding and partnership will only offer mutual benefits for the development of innovation and technology for both our markets," Chai said.
Jerry Li, founding managing partner of eWTPA and director-general of the Saudi Arabia-China Entrepreneurs Association, said Hong Kong has the potential to play a role in technological advancements between the whole of China and Saudi Arabia.
In the last nine months, eWTPA has hosted thousands of Chinese companies in Saudi Arabia, and more were coming from Hong Kong.
"We have been working closely with the Hong Kong SAR government. We will bring the best companies all over China through Hong Kong to Saudi Arabia," Li said.
The occasion also announced the establishment of the Hong Kong office of the Saudi Arabia-China Entrepreneurs Association. CE Lee said he was pleased to see that eWTP Arabia Capital, in concert with the newly launched Saudi Arabia-China Entrepreneurs Association, is setting up an office in Hong Kong.
Jerry Li, founding managing partner of eWTPA and director-general of the Saudi Arabia-China Entrepreneurs Association, addresses the "One Gateway Shared Vision — Hong Kong Special Administrative Region x Kingdom of Saudi Arabia" Gala Dinner on July 2, 2023. [Photo by eWTPA/Provided to chinadaily.com.cn]
Eleven companies involved in health, logistics, artificial intelligence and hospitality fields from Hong Kong and the Greater Bay Area were part of the memorandums of understanding. They are Aerosim (HK), D-Engraver, FJ Dynamics International, FreeD Group, GoGoChart Technology, Triavo Limited (Floship), XtalPi, Insilico Medicine, H World Group, New Horizon Health, and CIMC Enric.
Managing Director of Aerosim (HK) Ltd Mattis Tsang said their flight simulators, jointly developed with Boeing, provide end-to-end aviation training and education. D-Engraver Co-founder and CEO Ngai Man Shing introduced their blockchain-based credential engraving technology, a winner of 2021 Hong Kong ICT Gold Award, to the Saudi guests. Murphy Zhu, Asia Pacific CEO of H World Group, the world's 7th largest hospitality group, voiced aspirations for more and better hospitality facilities in the Middle East.
D-Engraver Co-founder and CEO Ngai Man Shing introduces his company's award-winning technology to Saudi guests on July 2, 2023. [Photo by Lesley Liu/chinadaily.com.cn]
Ahmed Altuwayjiri, chief of staff of the vice-minister's office of Saudi Arabia's Ministry of Communications and Information Technology, told deal-signing participants of the Saudi strength in attracting investments and talent.
Nicolas Aguzin, CEO of Hong Kong Exchanges and Clearing, said that investors around the world are aware of the economic importance of Asia. He said that as Saudi Arabia is diversifying its economy and moving from energy toward technology, Hong Kong is in a unique position to help with this as it is "the most international city of China".
"In Hong Kong, we have the right channels, platforms, and products," Aguzin said, adding that greater collaboration between China and the Middle East can help build connectivity and promote progress.
