A Saudi high-profile delegation visit to China has resulted in new and strengthened strategic collaborations, positioning Saudi Arabia and China together at the forefront of a new global, digitally driven bloc.
As the trip concludes, the Ministry of Communications and Information Technology (MCIT) and eWTP Arabia Capital (eWTPA) stand as the driving forces behind this transformative endeavour, strengthening the ties between the two nations.
The delegation was led by Eng Abdullah Al-Swaha, Minister of Communications and Information Technology.
Economic and trade relations
As part of the visit, the Saudi Arabia-China Entrepreneurs Association has deepened economic and trade relations and cemented the Saudi-China investment bridge with first overseas chapter and 11 Memorandums of Understanding.
Saudi-China Entrepreneur Association will help 100 Chinese companies enter Saudi Arabia and 20 Saudi Arabian companies enter China in the next two years,
The weeklong itinerary included trips to Hong Kong, Shenzhen and Beijing where they visited companies like Huawei, Meituan, and some of China’s aerospace technology companies.
During the trip, Eng Al-Swaha held high level meetings with Chinese government representatives including Jin Zhuanglong, Minister of Information Industry and Information, Yin Yong, Mayor of Beijing, John Lee, Chief Executive of Hong Kong SAR, and Professor Dong Sun, Secretary for Innovation, Technology and Industry at the HKSAR government, as well as delegations from several provincial governments.
He also met with senior executives of leading enterprises and investment institutions, including Nicolas Aguzin, CEO of Hong Kong Exchanges and Clearing (HKEX) and Jerry Li, Founder & Managing Partner of eWTPA and the Director-General of the Saudi Arabia-China Entrepreneurs Association (SCEA).
One Gateway, Shared Vision
One of the highlights was the "One Gateway, Shared Vision - Hong Kong Special Administrative Region x Kingdom of Saudi Arabia" event, hosted in Hong Kong by eWTPA in partnership with the Hong Kong Science and Technology Parks Corporation (HKSTP).
Minister Al-Swaha's visit served to strengthen bilateral ties, explore technological opportunities, and align China’s Belt and Road Initiative with the transformative goals of Saudi Vision 2030.
SCEA to foster cross border partnerships
During this visit, the Saudi Arabia-China Entrepreneurs Association inaugurated its new office in Hong Kong. The office will serve as a hub for knowledge exchange and business opportunities, further cementing the Sino-Arab relationship.
The SCEA was established with the support of the MCIT and was founded during the LEAP conference in Riyadh, Saudi Arabia, earlier this year. Chief Executive of Hong Kong, John Lee, acknowledged and appreciated the contributions of the SCEA and expressed gratitude towards eWTPA for strengthening ties between Saudi-Arabia and Hong Kong SAR.
The signing of 11 Memoranda of Understanding (MoUs) between the Saudi Arabia-China Entrepreneurs Association (SCEA) and companies such as Aerosim (HK) Limited, D-Engraver Limited, and XtalPi marked a significant milestone during the trip.
These agreements solidify the commitment of these companies to establish or expand their presence in Saudi Arabia, whilst actively engaging the dynamic ecosystem fostered by the association. With MCIT and eWTPA serving as primary facilitators, these partnerships will drive mutually beneficial collaborations in innovation and technology, promoting advancements in key sectors between KSA and China.
Pivotal role
Jerry Li, Founder & Managing Partner of eWTPA and the Director-General of the SCEA underscored the pivotal role that Hong Kong plays in facilitating collaboration between Greater China and Saudi Arabia. Li emphasised the shared vision of MCIT and eWTPA to empower Hong Kong's leading financial and technology companies, enabling them to establish a prominent foothold in Saudi Arabia.
He also emphasised that the aim of the SCEA is to assist 100 Chinese companies to be able to enter the KSA market and for 20 Saudi Arabian companies to be able to enter China in the next two years.
This strategic partnership aligns with Saudi Arabia's Vision 2030, promotes economic diversification, and facilitates the listing of companies from both nations on the stock exchanges of Saudi Arabia and Hong Kong.
Key role
“Minister Al-Swaha emphasised the significant role of Saudi Vision 2030 as a driving force behind the trip. The transformative vision aims to diversify Saudi Arabia's economy and fuel technological advancements, with innovation and technology serving as key pillars. The collaboration with eWTPA and MCIT is a testament to Saudi Arabia's commitment to achieving these ambitious goals,” Li said.
The delegation also experienced the ‘Saudi Night’ event held in Beijing and jointly hosted by MCIT and eWTPA. The evening highlighted the strong ties between the China and Saudi Arabia and how the two countries would continue to support each other to foster economic growth. Eng Al-Swaha was joined by Eng Saleh Khabti, the Deputy Minister of Investment, and Abdulrahman Alharbi, Ambassador of the Kingdom of Saudi Arabia to China. Over 100 representatives from leading Chinese companies across various industries were also present.-- TradeArabia News Service