Saudi Arabia-China Entrepreneurs Association signs MoU with Hong Kong Trade Development Council

• Settlement signed on the at Belt and Street Summit to advertise commerce and enterprise between the 2 areas
• Center East delegation showcases market and development alternatives within the Kingdom and past

HONG KONG SAR – Media OutReach – 16 September 2023 – Saudi Arabia-China Entrepreneurs Affiliation has signed a Memorandum of Understanding (MoU) with Hong Kong Commerce Improvement Council (“HKTDC”) to advertise commerce and enterprise between Hong Kong and Saudi Arabia. The MoU was signed in the course of the eighth Belt and Street Summit on 13^th September 2023, which was collectively organized by the Hong Kong Particular Administrative Area Authorities and the HKTDC. Beneath the theme of “Ten Years of Cooperation for Mutual Profit,” the summit spanned two days and attracted practically 6,000 authorities officers, enterprise leaders, and entrepreneurs from virtually 70 nations and areas. Over 100 delegations from abroad and Mainland China participated in numerous summit actions.

This yr’s summit explored alternatives in rising markets alongside the Belt and Street Initiative, significantly the Center East markets and the South East Asia markets. In his opening speech, Mr. John Lee, the Chief Govt of the Hong Kong Particular Administrative Area, expressed his perception within the potential of the Affiliation of Southeast Asian Nations (ASEAN) and Center East areas. For the reason that full implementation of customs clearance this yr, he has led enterprise {and professional} delegations to go to these two areas twice, leading to fruitful outcomes. Li cited his go to to the Center East in February for example, highlighting substantial achievements corresponding to Hong Kong corporations offering hydrogen-powered automobiles and refueling stations, providing energy-saving and environmental providers, and planning cooperative ventures within the resort trade. These accomplishments replicate the varied enterprise alternatives within the Center East.

The Center Japanese nations are key companions of the Belt and Street Initiative, offering in depth cooperation alternatives and potential for financial, commerce, and infrastructure growth with China. Specializing in the brand new alternatives, developments, and collaborations that the Center East market gives beneath the Belt and Street Initiative, this yr’s summit boasts the most important variety of Center Japanese company in its historical past. Amongst them are notable figures corresponding to Rania A. Al-Mashat, Minister of Worldwide Cooperation of the Arab Republic of Egypt, and Abdulla Bin Touq AlMarri, Minister of Economic system of the United Arab Emirates, together with a number of Center Japanese enterprises.

In the course of the roundtable dialogue on the Center East session, Jerry Li, Founding Companion of eWTP Arabia Capital and Director-Common of the Saudi Arabia-China Entrepreneurs Affiliation, remarked, “The Center East and Hong Kong are filled with potential for cooperation and mutual profit within the fields of finance, new power, and digital know-how. The Center East has set quite a few growth targets to attain its 2030 imaginative and prescient, whereas Hong Kong possesses world-class monetary and technological abilities, in addition to trade clusters. Collaboration between the 2 events is not going to solely diversify the Center East’s financial system but additionally improve Hong Kong’s worldwide affect and reshape its place as a worldwide monetary heart.”

In the course of the Belt and Street Summit, Saudi Arabia-China Entrepreneurs Affiliation (SCEA), a non-profit organisation initiated by eWTP Arabia Capital to spice up cooperation between the personal sectors in Saudi Arabia and China, has signed a Memorandum of Understanding (MoU) with the HKTDC. The MoU goals to strengthen the industrial and financial ties between Hong Kong and the Center East areas, significantly start-ups and repair suppliers trying to broaden past their nations of origin.

Since its institution, Saudi-China Entrepreneurs Affiliation (SCEA) has been dedicated to turning into an important bridge between Hong Kong and the Center East. In February this yr, Chief Govt Mr. John Lee visited the Center East and expressed his assist in direction of the institution of the SCEA in Saudi Arabia. In July, the SCEA formally introduced the institution of its first Asian workplace in Hong Kong and signed a MOU to cooperate with 11 Mainland China and Hong Kong corporations and facilitate their entry within the Saudi market. Moreover, the SCEA assisted in facilitating the go to of His Excellency Engineer Abdullah Al-Swaha, the Saudi Minister of Communications and Info Know-how, to Hong Kong in July, additional enhancing cooperation between the 2 events.

Operated by SCEA, eWTP Arabia Capital has established deep partnerships with the Hong Kong authorities, main monetary establishments, industrial corporations, and technological innovation platforms in Hong Kong since Chief Govt Mr. John Lee’s go to to the Center East in February. Supported by the HKTDC, eWTP Arabia Capital has hosted greater than 100 companions from numerous industries in Hong Kong, together with actual property, finance, commerce, know-how innovation, and healthcare. At the moment, eWTP Arabia Capital is actively facilitating the institution of those establishments and firms’ presence in Saudi Arabia.

eWTP Arabia Capital has invited a Saudi enterprise delegation to attend the Belt and Street Summit and showcase their merchandise in the course of the pitch classes in a bid to facilitate connections with buyers in Hong Kong. The delegation contains COFE, a Kuwait-originated firm that provides a web based market for espresso fans, Superior Communications & Digital Programs Firm (ACES), a Saudi Arabia-based digital infrastructure firm, and Navigator Consulting, a Saudi Arabia-based strategic consulting firm. They had been represented by Ali Al Ebrahim, Founder and CEO of COFE, Akram Aburas, CEO and Founding father of ACES, and Alfred Wang, CEO of Navigator Consulting.

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eWTP Arabia Capital

Based in 2019, eWTP Arabia Capital (“eWTPA”) is an funding agency primarily based in Saudi Arabia and China. Backed by marquee buyers Public Funding Fund (PIF) and eWTP Capital, the agency helps create strong native digital ecosystems within the MENA area by partnering with market-leading Chinese language companies and offering a gateway for these corporations to determine a powerful and sustainable presence within the area. Up to now, eWTPA has invested in over 18 corporations within the cloud and digital sector, 13 of which have already established themselves efficiently in KSA, and 4 of that are anticipated to be listed quickly; extra have emerged as trade leaders or regional unicorns, since its preliminary US$400 million Fund I. eWTPA’s portfolio span throughout enterprise providers, cloud providers, cyber safety, fintech, cross-border provide chain, retail and client, e-commerce, logistics and digital leisure, inside the GCC and MENA area.