Hong Kong start-up hubs expand city’s collaboration with Saudi Arabia to forge closer ties a year after John Lee visit

HKSTP and Cyberport signed memorandums of understanding to share knowledge and explore collaboration opportunities at Saudi Arabia’s Leap conference

The organisations are focusing on three main areas: biotech, green tech and construction, while also paying attention to AI developments

Reading Time:3 minutes

Signage for the Leap technology conference in Riyadh, Saudi Arabia, seen on March 4, 2024. SCMP/ Matt Haldane

Matt Haldanein Riyadh, Saudi Arabia

Published: 5:00pm, 5 Mar 2024Updated: 8:02pm, 5 Mar 2024

Hong Kong Science and Technology Parks (HKSTP) and Cyberport each signed memorandums of understanding with Saudi Arabia’s King Abdulaziz City for Science and Technology in Riyadh on Monday, a year after Chief Executive John Lee Ka-chiu attended the Leap technology conference to foster closer ties between the two markets.

The third annual Leap event is the first to feature a Hong Kong pavilion, where HKSTP and Cyberport had eight and seven companies exhibiting, respectively.

Biotech and other health care-related technologies were a significant part of the pavilion, as this is an area together with green tech and construction-related tech, where Hong Kong can most benefit Saudi Arabia, Albert Wong Hak-keung, CEO of HKSTP, which sponsored the Post’s trip to Riyadh, said at the event.

“I really think that health tech is a big area, ESG [environmental, social and governance] is a big area, construction is a big area,” Wong said. “Efficiency is an issue, lack of manpower is a big deal … The whole region is looking at transforming their economy from oil into other things.”

Hong Kong Science and Technology Parks CEO Albert Wong Hak-keung at the Hong Kong pavilion during the Leap technology conference in Riyadh, Saudi Arabia, on March 4, 2024. SCMP / Matt Haldane

With the new MOUs, Hong Kong’s leading start-up hubs are looking to bolster opportunities in their tech sectors through closer collaboration. HKSTP is looking at opportunities to collaborate on tech platforms and software, and share knowledge on best practices for infrastructure development and design standards.