Government leaders in the Middle East. [Photo/WeChat account of Optics Valley of China]

Government officials of the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) have visited Saudi Arabia, the United Arab Emirates, and Singapore with a delegation from the provincial government to promote investment in Hubei, explore new models of financial cooperation to enhance Hubei's ability to attract and utilize foreign investment and inject new vitality into the construction of Wuhan New City as a national sci-tech innovation and financial hub.

In Riyadh, the delegation visited the Royal Commission for Riyadh City (RCRC), a government agency responsible for operating and managing the four major industrial cities in Saudi Arabia. The RCRC has extensive experience in city creation and management, covering areas such as urban construction, public services, education, and healthcare.

The delegation established a regular communication mechanism with the RCRC to support OVC technology enterprises in establishing production bases in the Saudi industrial park, financing, and promoting trade.

On Nov 26, the delegation participated in the 2023 China Hubei-Saudi Arabia Economic and Trade Cooperation matchmaking event hosted by the Hubei Provincial People's Government and the Ministry of Investment of Saudi Arabia. Representatives from OVC introduced Wuhan New City and Biolake.

Several key projects involving the construction of communication facilities, cross-border e-commerce, finance, and other fields were signed.

In the United Arab Emirates, the delegation visited Khalifa Industrial Zone Abu Dhabi and other government institutions' economic and financial development zones to explore bilateral enterprise incubation and investment models and to help OVC companies enter the international capital market.

The delegation also visited the Singapore Exchange and other renowned institutions and corporations and discussed with the Singapore government.