The Saudi British Bank (SABB) hosted a high-level business delegation led by His Excellency John Lee, Chief Executive Officer of Hong Kong, and attended by distinguished business leaders from both economic powers, including Dr. Peter Lam, Chairman of the Hong Kong Trade Development Council, as well as top businessmen, CEOs, and influencers in economic development in Hong Kong, to discuss cross-border business and investment opportunities between the two countries.

The meeting also included a panel discussion between distinguished leaders of the Kingdom’s business community and officials from government institutions to discuss points of cooperation and explore investment and trade opportunities that will enhance the economic development plans in the two countries and increase the volume of trade exchange.

This meeting plays an important role in the growth of the two parties' economic and commercial relations. At a time when Hong Kong seeks to support its strategic development as an important commercial center. It is an exciting opportunity to support the Kingdom's Vision 2030 objectives of supporting economic diversification, attracting foreign investments, and strengthening strategic partnerships in order to transform the Saudi economy into one that is more diverse and sustainable.

Dr. Peter Lam, Chairman of the Hong Kong Trade Development Council, said: “As countries around the world have to contend with the challenges of climate change, war and inflation, many are looking for new markets and new technology to restart their growth. Especially for Hong Kong, we are excited about the opportunity to leverage the strong ties between Saudi Arabia and Mainland China around the Belt and Road (which enters its 10th year) and ride on long-term national development plans across the two nations, such as the Mainland’s 14th Five Year Plan and Saudi Arabia’s Vision 2030. As a first step in exploring prospects, we believe coming to the Middle East is the best way to hear first-hand from experts in the field and exchange ideas on how companies from Hong Kong and Saudi Arabia can work together.”

On this occasion Tony Cripps, Managing Director & CEO of SABB, commented: “Hong Kong’s vital position as a financial hub that is a fundamental part of China’s Greater Bay Area and Belt and Road strategies makes it a key player in the rapid build-up of business ties with the Kingdom. As we welcome the increasing interest in our rapidly growing domestic economy, we are proud to have been chosen to inform this distinguished delegation about recent socio-economic developments in Saudi Arabia and how they affect business. SABB, together with our international partner and shareholder HSBC, is ideally positioned to support both inbound and outbound trade and investment between these important partners.”

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About Saudi British Bank (SABB):

Saudi British Bank (SABB) is a licensed financial institution operating under supervision and control of the Saudi Central Bank. SABB was established in 1978G as a Saudi joint stock company. SABB is having a strategic partnership with the HSBC Group.

SABB offers integrated financial and banking services including personal banking, corporate banking, private banking as well as investment and treasury services. SABB paid-up capital is SAR 20.5 billion.