Hong Kong corporation looks to Saudi media and technology sectors for potential opportunities
Entrepreneurs from Hong Kong are interested in Saudi Arabia because of the country’s rapid advancements in the media and technology sectors.
Saudi Arabia is expected to get “a lot” of cash, says Patrick Tsang, head of the city’s Tsang Group, which will catapult the kingdom into a new phase of growth.
In a conversation with Arab News, Tseng stated that his company is eager to expand into the Gulf nation as it offers a wealth of chances due to Saudi Arabia’s recent strong economic growth.
“I predict that in five, ten, or fifteen years, this will be where everyone wants to be. According to the administration, this is going to be the hub of activity and the economy.
He disclosed to Arab News that his business intended to make investments in the Middle East’s media and technology sectors.
Tsang stated that his organization has plans to open an individual membership clubs in Riyadh without revealing the exact location of the establishment. However, he did say that the company aimed to complete all arrangements in time for the center to open in 2024.
“In my opinion, technology will play a significant role in the infrastructure of Vision 2030, particularly in terms of execution. For instance, clean technology, energy from renewable sources, video games, and other forms of technology will all be fantastic in this context. The list of infrastructure, from railway to electric cars, is limitless,” he remarked.
Chinese and Saudi Arabian relations are solid and “getting better and better,” according to Tsang.
He sees the existence of significant traffic in the Saudi capital simply a reflection of an expanding economy and a good omen.”Being here is very exciting, and there are many opportunities,” Tsang continued.The top executive complimented the Kingdom’s growing technical development.
During a luncheon in a Riyadh restaurant, he described his experience to The prince Bandar bin Saud bin Khalid, the general secretary of the King Faisal Foundation, saying: “The prince offered me something that I haven’t seen in other countries. Under the tablecloth, there are these tiny electric scanning pods that I could use to utilize Apple Pay to pay my bill. If there are eight persons, we can also configure the program so that they can split the cost.
Tsang added, “I haven’t seen this before,” to emphasize his delight at such a creative application of technology that makes people’s lives easier.
The Hong Kong-based business has future plans to send a biotechnology-related delegation to the Middle East.