Saudi Industry Minister Embarks On Strategic Hong Kong Visit For Enhanced Cooperation

Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef has embarked on an official visit to Hong Kong. This trip aims to enhance industrial cooperation, attract investments to Saudi Arabia, and explore mutual opportunities in automation, innovation, and technology solutions.

During his visit, Alkhorayef will engage with officials from the Department of Trade and Industry, the Office of Innovation, Technology, and Industry, and the Department of Trade and Economic Development. He will also meet representatives from the Global Research Collaboration Center InnoHK. These meetings are expected to foster stronger economic ties between Saudi Arabia and Hong Kong.

The minister's itinerary includes a visit to Hutchison Ports and discussions with the Federation of Hong Kong Industries. Additionally, he will hold talks with officials from Cyberport, a company known for its advanced technology solutions. Meetings with the Johnson Electric Group and other commercial and industrial companies are also planned.

Hong Kong maintains significant economic relations with Saudi Arabia as a special administrative region of China. In 2023, Saudi non-oil exports to Hong Kong totalled SAR1 billion. Meanwhile, imports from Hong Kong reached SAR6.6 billion during the same period.

The Kingdom's primary exports to Hong Kong include ordinary metals and their products, optical tools and devices, medical devices, and electrical equipment. On the other hand, Saudi Arabia imports clothing, natural pearls, ordinary metals, and leather products from Hong Kong.

Delegation Accompanying Alkhorayef

Alkhorayef is accompanied by a delegation from the industry and mineral resources sector. The delegation includes Assistant Minister of Industry and Mineral Resources for Planning and Development Dr. Abdullah Al-Ahmari. Also part of the team are National Center for Industrial Development CEO Eng. Saleh Al-Solami and Saudi Authority for Industrial Cities and Technology Zones (Modon) CEO Eng. Majed Al-Arqoubi.

This visit is part of a broader economic tour covering East Asia, including China and Singapore. The tour aims to strengthen economic partnerships in these regions.

The discussions held during this visit are expected to pave the way for increased collaboration in various sectors between Saudi Arabia and Hong Kong.

With inputs from SPA