By Iffat Shaheen:
Riyadh, Saudi Arabia — H.E. Paul Chan, Hong Kong’s Financial Secretary, reaffirmed the city’s commitment to deepening economic cooperation with Saudi Arabia, during a recent visit to the Kingdom, describing both economies as “natural partners” in finance, innovation, and sustainable development.
Speaking during his visit to the Future Investment Initiative in Riyadh, Chan said Hong Kong’s globally connected capital market, anchored by major investors from the United States, Europe, and Asia, serves as a strategic gateway for Saudi companies seeking access to China and the broader Asian region. Conversely, Saudi Arabia’s large-scale infrastructure developments offer long-term, stable investment opportunities for Hong Kong’s financial institutions, construction firms, and engineering consultancies.
Expanding Collaboration in Emerging Sectors
H.E. Chan highlighted fintech, green finance, cybersecurity, and artificial intelligence as priority areas for joint development.
He emphasized how Hong Kong, already Asia’s green-finance hub, issuing more than SAR 300 billion (US$80 billion) in green and sustainable bonds annually, is inviting Saudi enterprises to utilise its platform to issue bonds and attract international investors through streamlined procedures and transparent regulatory standards.
In fintech, both sides see potential in e-commerce, electronic payments, digital assets, and blockchain, while cooperation in AI and data science could enhance efficiency and risk management in financial institutions, he said
Plans for a Hong Kong Economic and Trade Office in Riyadh
When asked about the impact of bilateral relations, H.E Chan added that in order to further facilitate cross-border business, Hong Kong plans to open an Economic and Trade Office (ETO) in Saudi Arabia within the next six to nine months. The office will act as a regional bridge, helping Saudi companies explore opportunities across the Chinese mainland and the wider Asian market.
Target Industries and Investor Support
Key industries earmarked for collaboration include financial services, AI and data science, health and life sciences, and new energy and advanced materials, which are all areas that align with Saudi Arabia’s Vision 2030 priorities.
To support Saudi investors, Hong Kong offers an integrated network of agencies; including the Trade Development Council, Science Park, Cyberport, and Investment Corporation, providing incentives such as rental subsidies, financial support, and even potential minority shareholdings in Saudi companies expanding to Hong Kong.
A Partnership with Long-Term Impact
While formal agreements continue to grow, H.E Chan emphasized that the focus should extend beyond numbers to the broader “radiation effect” of cooperation; enhancing connectivity, technology transfer, and capital flow between the two economies. Saudi investors operating in Hong Kong also gain access to the Greater Bay Area, a regional economic powerhouse of 87 million people and a SAR 8.25 trillion (US$2.2 trillion) GDP.
As both economies accelerate diversification and innovation under Vision 2030 and Hong Kong’s “Connect and Excel” strategy, their partnership is poised to become a central link between the Middle East and Asia’s dynamic growth corridor.
