Editorial | Saudi links will allow Hong Kong’s tech firms to shine
- As city continues to benefit from an increasingly close relationship between China and the Middle East, start-ups need to seize opportunities
Partnering with deep-pocketed Saudi Arabia may be Hong Kong’s big break to advance local science and technology internationally.
Having languished for many years in the shadows of hi-tech Shenzhen and other mainland tech hubs, Hong Kong Science and Technology Parks and Cyberport need to seize this opportunity to prove their mettle.
The two tech centres have each signed a memorandum of understanding (MOU) with the King Abdulaziz City for Science and Technology in Riyadh.
That is the result of a high-profile visit by Chief Executive John Lee Ka-chiu to the Middle Eastern oil giant a year ago.
It shows high-level contacts can bear fruit for the local economy, and tech development, and are not just for public relations. Lee can build on this kind of success overseas for the city’s international profile.
The latest MOUs aim to promote such hot fields as biotech and healthcare-related technologies, construction, media platforms, cloud storage and environmental, social and governance (ESG); and help start-ups gain access to each other’s market.