Hong Kong, December 8, 2023, On Thursday, the Kingdom of Saudi Arabia and the Hong Kong Special Administrative Region of the People's Republic of China solidified their commitment to fostering direct investments by signing a memorandum of understanding (MoU). The signing ceremony, held in the presence of Saudi Minister of Investment Eng. Khalid Al-Falih, marked a significant step towards strengthening economic ties between the two regions.
The primary objective of the MoU is to facilitate and encourage direct investments by establishing a framework for collaboration. This includes the exchange of rules and regulations about the investment environment, as well as cooperation in organizing exhibitions, business sessions, and reciprocal visits to share expertise.
The signing took place during a visit to Hong Kong and other parts of China by a Saudi delegation led by the Minister of Investment. This diplomatic initiative underscores the mutual interest of both parties in promoting economic cooperation and creating an environment conducive to increased direct investments. As globalization continues to shape international economic relations, such agreements contribute to fostering stronger ties between nations and driving economic growth.
