Hong Kong Business News

A delegation of representatives from the innovation and technology (I&T) industry, led by Secretary for Innovation, Technology & Industry Prof Sun Dong, began day two of their visit in Riyadh yesterday by attending the opening of the LEAP 2024 technology conference.

While delivering a keynote speech at the conference, Prof Sun said Hong Kong, being one of the most international cities of the country, as well as one of the key nodes of the Belt & Road Initiative, has the potential to act as a super value-adder between Mainland China and the rest of the world, including Saudi Arabia and the entire Middle East, to enhance mutually beneficial relationships and foster global innovation collaboration.

He pointed out that Hong Kong can pool together innovation resources from the Guangdong-Hong Kong-Macao Greater Bay Area (GBA), the Mainland and the world to promote I&T development, which is the best springboard for overseas enterprises to venture into the GBA, Mainland China and even the Asian markets.

Prof Sun stressed that he believes Hong Kong and Saudi Arabia share the same vision and there is much room for a closer and deeper co-operation, particularly in the aspects of research and development, artificial intelligence (AI) and digitalisation.

He also officiated at the opening ceremony of the Hong Kong Pavilion jointly presented by the Hong Kong Science & Technology Parks Corporation (HKSTP) and the Hong Kong Cyberport Management Company (Cyberport), the first of its kind at the technology conference.

The Hong Kong Pavilion showcases 16 cutting-edge technologies covering fields of AI, biotech, healthtech and green technology from tech enterprises of the two flagships.

During the ceremony, Prof Sun witnessed the signing of a memorandum of understanding (MOU) between the HKSTP and Cyberport, and the King Abdulaziz City for Science & Technology.

The aim of the MOU is to establish a strategic partnership in promoting I&T co-operation and deepening exchange, and facilitating companies from both places to establish market presence by providing support and assistance to startups and entrepreneurs.

On the sidelines of the conference, Prof Sun met Saudi Arabia’s Minister of Industry & Mineral Resources Bandar bin Ibrahim AlKhorayef to brief him on Hong Kong's latest development in the I&T, advanced manufacturing and new energy industries, as well as the city’s unique advantages of leveraging on the motherland and connecting with the world and internationalisation under the "one country, two systems" principle.

He said that he hopes to further enhance exchanges and co-operation between the two places.

Prof Sun then met Saudi Arabia’s Deputy Minister of Investment Saleh Ali AlKhabti, saying that Hong Kong and Saudi Arabia have been maintaining close bilateral trade relations.

He expressed his hope that through this visit, Hong Kong could establish a connection with various sectors, especially I&T, in Saudi Arabia, and promote co-operations in areas such as technology, investment and advanced manufacturing.

Members of the delegation will depart for Dubai, the United Arab Emirates, today.

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