Financial Secretary Paul Chan Mo-po will lead a delegation from the financial and innovation sectors to visit Riyadh, Saudi Arabia today.
During the visit, Chan and the delegation comprising over 110 members will also attend the 8th edition of the Future Investment Initiative.
Writing in his weekly blog on Sunday, Chan highlighted that the Hong Kong Science and Technology Parks Corporation will lead over 20 start-ups in conducting road shows.
This initiative aims to showcase Hong Kong’s innovations as part of efforts to strengthen cooperation with the Middle East in the field of innovation and technology.
Meanwhile, Chan will attend the listing ceremonies of the first two Exchange Traded Funds (ETF) tracking Hong Kong stock indices on the Saudi Exchange.
He stated that the listings demonstrate capital flow between the two regions, as advocated by the Belt and Road Initiative. He expected that more bilateral financial products would be introduced and attract more capital from the Middle East.
Chan also mentioned that the government has visited the Middle East multiple times over the past two years, creating new opportunities for Hong Kong businesses to expand overseas and attract long-term investment.
