The "the Belt and Road" Office of the Commerce and Economic Development Bureau of the Hong Kong SAR Government recently signed a memorandum of understanding with the Ministry of Investment of Saudi Arabia. The two sides agreed to strengthen information exchange in infrastructure and construction related fields, and the Ministry of Investment of Saudi Arabia would provide support for Hong Kong's relevant professional services to enter the local market. This memorandum was signed in the presence of Hong Kong Chief Executive Carrie Lam and Saudi Arabian Minister of Investment Khalid Al Falih. Li Jiachao said that the signing of the memorandum marked a new milestone in the cooperation between the two sides under the "the Belt and Road" initiative, and it was the first memorandum signed between Hong Kong and overseas economies in relevant cooperation fields. Hong Kong is an international financial, shipping, and trade center, and a thriving international innovation and technology hub that can fully assist Saudi Arabia in achieving its 2030 vision. According to the memorandum, the Saudi Arabian Ministry of Investment will provide information on infrastructure and construction related projects to Hong Kong and assist Hong Kong companies in overcoming potential challenges when entering the local market; The the Belt and Road Office provides information on Hong Kong professional services to the Ministry of Investment of Saudi Arabia. Both parties will utilize each other's platforms to promote investment, bidding, and fundraising efforts. Hong Kong and Saudi Arabia are also negotiating an investment promotion and protection agreement. The agreement aims to protect, promote and open up investment, help strengthen investor confidence and increase two-way investment, and promote the construction of closer economic relations. (New Society)