Saudi Vision 2030: Public Investment Fund Aims for Hong Kong Listings

Expanding Horizons: Public Investment Fund's Strategic Move

In a significant move, executives from Saudi Arabia's Public Investment Fund (PIF) revealed that Middle Eastern firms are eyeing listings in Hong Kong as a critical step in fulfilling Saudi Vision 2030. The chairman of Hong Kong Exchanges and Clearing (HKEX), Carlson Tong Ka-shing, mentioned that Saudi companies could leverage these listings to tap into international capital.

Building Trust: Hong Kong and the Middle East

The PIF and officials from the Saudi Stock Exchange, also known as Tadawul, are increasingly considering the Hong Kong market favorable for investment growth. As Paul Chan Mo-po, Financial Secretary of Hong Kong, highlighted during the 8th Future Investment Initiative, establishing deep ties with Hong Kong is paramount.

• ETFs in the spotlight: Two major ETFs worth a combined US$1.8 billion were launched during the summit.
• Investor confidence: Average daily turnover in Hong Kong stocks is on the rise, fueled by a favorable global investment climate.

Looking Ahead: Future Market Collaborations

With ongoing discussions about potential IPOs and regional cooperation, the PIF's engagement with HKEX may open doors for enhanced access to Middle Eastern financial markets. The resilience of the Hong Kong market was reaffirmed, with optimism prevailing despite political fluctuations.

To learn more about the ongoing developments in the Hong Kong stock exchange and its implications for the Middle East, visit our source for detailed insights.