Hong Kong’s financial chief is set to lead a business delegation to Saudi Arabia later this year, a move aimed at enhancing economic ties with the Middle East. The announcement was made during the inaugural overseas edition of one of Saudi Arabia’s premier technology events, LEAP East 2026, which took place recently in Hong Kong. This effort reflects a broader strategy by Hong Kong to solidify its position as a key player in the global economy.
Continuing the Partnership with Saudi Arabia
At the opening ceremony of LEAP East 2026, Financial Secretary Paul Chan Mo-po revealed that Hong Kong will host an annual version of the conference for the next three years. This is a strategic initiative to deepen collaboration not only in technology but also in multiple sectors, including finance and investments. Chan’s delegation will mark his second visit to Saudi Arabia since October 2025 and will include representatives from diverse fields such as infrastructure, green technology, and advanced manufacturing.
Highlighted Opportunities for Collaboration
During his speech, Chan expressed his admiration for Saudi Arabia’s “Vision 2030,” a transformative plan designed to reduce the country’s dependence on oil. He emphasized the opportunities that lie ahead for collaboration between Hong Kong and Saudi Arabia. Chan pointed out that both regions serve as gateways to their respective markets and share a common goal of economic diversification. This synergy can foster mutual growth, benefitting both economies significantly.
Focus on Emerging Sectors
The delegation will consist of professionals from sectors including finance, investment, and professional services, aimed at identifying collaborative projects that align with the goals of “Vision 2030.” Given the ambitious objectives laid out by Saudi officials, Chan is optimistic about the potential for partnerships that can spur innovation and economic growth in both regions. As both territories are equipped with unique resources and competencies, there is substantial potential for initiatives that can drive advancements in green technology as well as healthcare.
The Path Forward: Strengthening Economic Ties
This upcoming delegation marks an important step in Hong Kong’s ongoing efforts to establish stronger economic links with the Middle East. With the region looking to diversify its economy, Hong Kong’s expertise and capabilities offer valuable prospects for collaboration. As Chan concluded, “There is enormous potential for us, Hong Kong and Saudi Arabia, to do more together.” This upcoming business delegation, coupled with initiatives like LEAP East 2026, signals a robust commitment to building a fruitful economic relationship that can yield significant benefits for both regions.