Attendees speak at the "Project Investment Session: UAE in Belt and Road Summit 2023" at Hong Kong Convention and Exhibition Centre in Wan Chai on Sep 14, 2023. (CALVIN NG / CHINA DAILY)

The prospects for business synergy between China and United Arab Emirates look promising, with China having the advanced technologies that UAE needs for digital transformation in the process of economic diversification.

On the second day of the eighth Belt and Road Summit, held in Hong Kong and organized by the Hong Kong Special Administrative Region government and Hong Kong Trade Development Council, a UAE investment project session was held to showcase the potential of seven UAE business projects in the areas of jewelry, property, logistics, green energy, digital transformation, sustainable solutions and industrial development.

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“UAE is strategically located in the Gulf. We know that the UAE is seeking to diversify its economy and today we are showcasing quite a number of projects in digital transformation,” HKTDC Deputy Executive Director Patrick Lau Hui-ping said at the opening of the investment session.

Attendees speak at the "Project Investment Session: UAE in Belt and Road Summit 2023" at Hong Kong Convention and Exhibition Centre in Wan Chai on Sep 14, 2023. (CALCIN NG / CHINA DAILY)

Emaar Properties PJSC is a multinational real estate development company located in the UAE. The company is seeking to expand its business footprint in China.

Hussain Mohammed Al Mahmoudi, chief executive officer at Sharjah Research Technology and Innovation Park, said Hong Kong and UAE can create more business synergy because both parties share a lot of similarities

“You can help me to shorten my building construction timing. You can help me utilize (the) newest technologies to make construction become greener. You can help me to create smart homes.  A lot of different things we can think of collaborating (on) because in China, there are a lot of advanced technologies,” said Alma Au-Yeung, Greater China head of corporate marketing and strategic partnerships at Emaar Properties PJSC.

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Hussain Mohammed Al Mahmoudi, chief executive officer at Sharjah Research Technology and Innovation Park, said Hong Kong and UAE can create more business synergy because both parties share a lot of similarities. “Hong Kong is very similar to UAE, which are both very small, dynamic and well connected. When you want to scale up your businesses in the Middle East or Africa, you can locate your platforms to go out to other markets,” he said.

The CEO added that the technology and innovation park in Sharjah has partnerships with different research institutions including Hong Kong Science Park to create an ecosystem for enterprises to scale up their businesses, with the bottom line being to create an economic impact arising from business scalability.