John Lee ‘confident’ to enter into agreements with Saudi Arabia, eyes Aramco’s HK listing

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Chief Executive John Lee Ka-chiu said he is “confident” that Hong Kong will enter into a number of agreements with Saudi Arabia as a delegation led by the city leader himself has arrived in Riyadh on Sunday morning Hong Kong time.

Lee put on a big smile as he was greeted and welcomed by Badr AlBadr, Deputy Minister of Saudi’s Ministry of Investment, and Hamad Aljebreen, Saudi’s Consul General in Hong Kong at the airport.

Lee hoped the visit will deepen ties between the SAR and Saudi for future communications, corporations and promotions.

“We believe we will enter into a certain number of agreements with Saudi Arabia,” he said.

“Before we arrived here, all parties have been working very diligently and our feeling is that the Saudi government has been acting especially proactive.”

The city leader added he will pay a visit to state-run oil giant Saudi Aramco during his stay to explain the SAR’s advantages and lure the company to list in Hong Kong.

Lee hoped Aramco would seize the development opportunities in Hong Kong, saying the city is an international financial center and also a center for asset and risk management with a free flow of professionals and fundings.

He told reporters the SAR government will definitely work hard to lower the threshold should Aramco come and list in Hong Kong.

Lee also pointed out that the visit will strengthen Hong Kong’s footing in the Belt and Road Initiative as he noted that Middle East regions are a key part in the Initiative.