Finance Secretary Paul Chan Mo-po was set to leave for Saudi Arabia on Monday afternoon for an official visit to strengthen economic ties with the Middle East and promote collaboration between enterprises from the Hong Special Administrative Region and the Chinese mainland on the global stage.

The visit seeks to foster cooperation between Hong Kong and the mainland enterprises in expanding globally and seizing new business opportunities together, according to a HKSAR government statement.

It also aims to deepen the city's connections with the Middle East in key areas such as trade, finance, innovation, and technology.

Chan will lead a delegation of around 40 members, including representatives from financial institutions, as well as founders and executives of enterprises engaged in artificial intelligence, biomedical technology, e-commerce, green energy, construction technology and other sectors, from both the SAR and the mainland.

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The delegation also includes members from the Office for Attracting Strategic Enterprises, Invest Hong Kong, the Hong Kong Investment Corp Ltd, and the Hong Kong Exchanges and Clearing Ltd, with support from the Hong Kong Trade Development Council in organizing the program.

During the visit, Chan will attend the Future Investment Initiative forum, where he will join a panel discussion and deliver speeches to highlight Hong Kong’s latest developments and emerging prospects, according to the statement.

The delegation will also take part in business-matching activities and hold meetings with local government officials, public institutions, and business leaders to explore collaborations in trade, finance, and innovation.

Chan is scheduled to return to Hong Kong on Friday.