Arab News, Tuesday, Feb 07, 2023 | Rajab 16, 1444
Saudi British Bank meets with Hong Kong delegation to elevate investment opportunities
Saudi Arabia: Top officials from Saudi
British Bank met with a high-level business delegation from Hong Kong to discuss
cross-border business and investment opportunities between Saudi Arabia and the
special administrative region of China.
According to a press release, the Hong Kong
business delegation that reached Riyadh on Feb. 5 was led by CEO John Lee
Ka-chiu. He was accompanied by Peter Lam, chairman of the Hong Kong Trade
Development Council, as well as top businessmen and executives.
The meeting also included a panel discussion
between distinguished leaders of Saudi Arabia’s business community and officials
from government institutions to discuss points of cooperation and explore
investment and trade opportunities that will enhance the economic development
plans in the two countries and increase the volume of trade exchange.
“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,” said Lam.
He added: “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.”
Tony Cripps, managing director and CEO of SABB
said that Hong Kong’s vital position as a financial hub which is a fundamental
part of China’s Greater Bay Area and Belt Road strategies makes it a key
player in the rapid build-up of business ties with the Kingdom.
“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,” said Cripps.
After arriving in Riyadh on Sunday, Lee said that
he will meet top executives of Saudi Arabian Oil Co. during the visit, and added
that he would highlight what Hong Kong had to offer as an international
“Saudi Aramco’s businesses are very diversified
with its different subsidiaries. I will try my best to encourage them to come to
Hong Kong for participation, including listing in the city,” said Lee, as
reported by the South China Morning Post.