Saudi Arabia-China Entrepreneurs Association (SCEA), a non-profit organization initiated by eWTP Arabia Capital, has signed a Memorandum of Understanding (MoU) with the Hong Kong Trade Development Council (HKTDC) to promote trade and business between Hong Kong and Saudi Arabia.The Saudi Arabia-Hong Kong MoU was signed during the eighth Belt and Road Summit 2023, which was jointly organized by the Hong Kong Special Administrative Region Government and the HKTDC. Under the theme of “Ten Years of Cooperation for Mutual Benefit,” the summit spanned two days and attracted nearly 6,000 government officials, business leaders, and entrepreneurs from almost 70 countries and regions. Over 100 delegations from overseas and Mainland China participated in various summit activities.
This year’s summit explored opportunities in emerging markets along the Belt and Road Initiative, particularly the Middle East markets and the South East Asia markets.
In his opening speech, Mr. John Lee, the Chief Executive of the Hong Kong Special Administrative Region, expressed his belief in the potential of the Association of Southeast Asian Nations (ASEAN) and the Middle East regions. Since the full implementation of customs clearance this year, Mr. Lee has led business and professional delegations to visit these two regions twice, resulting in fruitful outcomes.
Mr. Lee cited his visit to the Middle East in February as an example, highlighting substantial achievements such as Hong Kong companies providing hydrogen-powered cars and refueling stations, offering energy-saving and environmental services, and planning cooperative ventures in the hotel industry. These accomplishments reflect the diverse business opportunities in the Middle East.
The Middle Eastern countries are key partners of the Belt and Road Initiative, providing extensive cooperation opportunities and potential for economic, trade, and infrastructure development with China. Focusing on the new opportunities, developments, and collaborations that the Middle East market offers under the Belt and Road Initiative, this year’s summit boasts the largest number of Middle Eastern guests in its history. Among them are notable figures such as Mr. Rania A. Al-Mashat, Minister of International Cooperation of the Arab Republic of Egypt, and Mr. Abdulla Bin Touq AlMarri, Minister of Economy of the United Arab Emirates, along with several Middle Eastern enterprises.
Operated by SCEA, eWTP Arabia Capital has established deep partnerships with the Hong Kong government, major financial institutions, industrial companies, and technological innovation platforms in Hong Kong since Chief Executive Mr. John Lee’s visit to the Middle East in February.
Supported by the HKTDC, eWTP Arabia Capital has hosted more than 100 partners from various industries in Hong Kong, including real estate, finance, trade, technology innovation, and healthcare. Currently, eWTP Arabia Capital is actively facilitating the establishment of these institutions and companies’ presence in Saudi Arabia.
eWTP Arabia Capital has invited a Saudi business delegation to attend the Belt and Road Summit and showcase their products during the pitch sessions in a bid to facilitate connections with investors in Hong Kong. The delegation comprises COFE, a Kuwait-originated company that offers an online marketplace for coffee enthusiasts, Advanced Communications & Electronic Systems Company (ACES), a Saudi Arabia-based digital infrastructure company, and Navigator Consulting, a Saudi Arabia-based strategic consulting company. They were represented by Mr. Ali Al Ebrahim, Founder and CEO of COFE, Mr. Akram Aburas, CEO and Founder of ACES, and Mr. Alfred Wang, CEO of Navigator Consulting.