The Saudi British Bank hosted a high-level business delegation led by John Lee, chief executive of Hong Kong, and attended by business leaders from both economic powers. Dr. Peter Lam, chairman of the Hong Kong Trade Development Council, as well as top businessmen, CEOs and economics influencers were in attendance to discuss cross-border business and investment opportunities between the two countries.
The meeting also included a panel discussion between leaders of the Kingdom’s business community and officials from government institutions, spotlighting points of cooperation and exploring investment and trade opportunities that will enhance the economic development plans in the two countries and increase the volume of trade exchange.
This meeting plays an important role in the growth of the two parties’ economic and commercial relations, especially at a time when Hong Kong is seeking to support its strategic development as an important commercial center.
It is also an opportunity to support the Kingdom’s Vision 2030 objectives of economic diversification, attracting foreign investments and strengthening strategic partnerships in order to transform the Saudi economy into one that is more diverse and sustainable.
Lam said: “As countries around the world have to contend with the challenges of climate change, war and inflation, many are looking for new markets and new technology to restart their growth. Especially for Hong Kong, we are excited about the opportunity to leverage the strong ties between Saudi Arabia and Mainland China around the Belt and Road (which enters its 10th year) and ride on long-term national development plans across the two nations, such as the Mainland’s 14th Five Year Plan and Saudi Arabia’s Vision 2030.
“As a first step in exploring prospects, we believe coming to the Middle East is the best way to hear firsthand from experts in the field and exchange ideas on how companies from Hong Kong and Saudi Arabia can work together.”
Tony Cripps, managing director and CEO of SABB, said: “Hong Kong’s vital position as a financial hub that is a fundamental part of China’s Greater Bay Area and Belt and Road strategies makes it a key player in the rapid build-up of business ties with the Kingdom. As we welcome the increasing interest in our rapidly growing domestic economy, we are proud to have been chosen to inform this distinguished delegation about recent socioeconomic developments in Saudi Arabia and how they affect business. SABB, together with our international partner and shareholder HSBC, is ideally positioned to support both inbound and outbound trade and investment between these important partners.”
