HKSTP Chairman Sunny Chai Ngai-chiu said that Hong Kong and Saudi markets offer complementary values.

"I'm proud to see our park companies grow in our city and scale into Saudi Arabia, as well as the new paths being paved for Saudi companies to come to Hong Kong. Greater collaboration, understanding and partnership will only offer mutual benefits for the development of innovation and technology for both our markets," Chai said.

Jerry Li, founding managing partner of eWTPA and director-general of the Saudi Arabia-China Entrepreneurs Association, said Hong Kong has the potential to play a role in technological advancements between the whole of China and Saudi Arabia.

In the last nine months, eWTPA has hosted thousands of Chinese companies in Saudi Arabia, and more were coming from Hong Kong.

"We have been working closely with the Hong Kong SAR government. We will bring the best companies all over China through Hong Kong to Saudi Arabia," Li said.

The occasion also announced the establishment of the Hong Kong office of the Saudi Arabia-China Entrepreneurs Association. CE Lee said he was pleased to see that eWTP Arabia Capital, in concert with the newly launched Saudi Arabia-China Entrepreneurs Association, is setting up an office in Hong Kong.