Hong Kong Financial Secretary Paul Chan Mo-po plans a second trip to Saudi Arabia later this year to strengthen economic ties with the kingdom [1].
The initiative seeks to position Hong Kong as a primary gateway to Asia and a partner for smart city development. By aligning with Saudi Arabian investment, the city aims to accelerate its technological infrastructure and diversify its international financial partnerships.
As part of this strategic push, Hong Kong will become the first city outside Saudi Arabia to host the LEAP tech conference [1]. The city will host an annual Hong Kong edition of the conference for the next three years, starting with LEAP East 2026 [1]. The event is expected to attract more than 6,000 investors, innovators, academics, and policymakers [3].
Investment interest is already manifesting through Saudi Arabian tech firms. Elm, a technology giant backed by Saudi Arabia’s sovereign Public Investment Fund, has expressed a strong "appetite" for engaging with the Northern Metropolis project [2]. This project is a cornerstone of Hong Kong's urban development and innovation strategy.
Chan said the planned visit is intended to build further Mideast ties [1]. The collaboration focuses on leveraging Saudi capital and technical expertise to enhance the city's status as a global tech hub.
The partnership marks a significant shift in regional cooperation, linking the Gulf's sovereign wealth with Hong Kong's financial infrastructure. By hosting LEAP East, Hong Kong intends to create a recurring platform for venture capital and technological exchange between the two regions [1].
“Hong Kong will become the first city outside Saudi Arabia to host the LEAP tech conference”
This partnership represents a strategic alignment between Saudi Arabia's Vision 2030 diversification goals and Hong Kong's ambition to remain a global financial and tech center. By integrating Saudi sovereign wealth into the Northern Metropolis project and hosting the LEAP conference, Hong Kong is actively reducing its reliance on traditional markets and establishing a footprint in the Middle East's rapidly growing tech ecosystem.
