Photo Credit : WAM
The Dubai Department of Economy and Tourism (DET) has signed a strategic agreement with HSBC Bank Middle East Limited aimed at accelerating investment flows into Dubai and strengthening its position as a global financial and business hub.
The partnership is designed to attract international corporates, institutional investors, and high-net-worth individuals looking to establish or expand operations in the emirate. It will also deepen engagement with global capital market participants, including private equity firms and multinational companies seeking access to regional capital pools.
By combining DET’s economic development mandate with HSBC’s extensive global network, the agreement seeks to enhance Dubai’s appeal as a preferred destination for capital deployment and cross-border expansion across the Middle East, Africa, and South Asia.
A major focus of the collaboration will be strengthening investment connectivity between Asia and the UAE, leveraging HSBC’s strong presence in key Asian financial centres. This aligns with Dubai’s broader strategy to position itself as a bridge between East and West in global trade and finance.
The agreement supports the ambitions of the Dubai Economic Agenda D33, which aims to double the size of Dubai’s economy by 2033 and rank it among the world’s top three global cities by increasing foreign direct investment and private sector participation.
Hadi Badri, CEO of Dubai Economic Development Corporation (DEDC), said the partnership represents a key step in strengthening Dubai’s global investment outreach. He highlighted that aligning DET’s facilitation capabilities with HSBC’s international reach will create a structured pathway for global investors to enter and grow within Dubai’s diverse economic sectors.
The collaboration builds on an existing relationship between DET and HSBC, which has included joint investment promotion initiatives, outreach missions across Asia, and engagement with markets such as Japan, Singapore, China, and Hong Kong.
Mohamed Al Marzooqi, CEO UAE at HSBC Bank Middle East, noted that Dubai continues to stand out as a resilient and globally connected economy. He emphasised HSBC’s role in facilitating capital flows along the Asia–Middle East corridor, one of the world’s fastest-growing economic regions.
Dubai’s economic momentum remains strong, with GDP reaching approximately AED937 billion in 2025, marking a 5.4% annual growth. The emirate also recorded 643 greenfield FDI projects in the first half of 2025 — the highest globally for any half-year period since tracking began.
Under the agreement, DET will work closely with HSBC’s global client base to support businesses entering Dubai, offering licensing guidance, market insights, and ecosystem navigation. Both entities will also collaborate on knowledge-sharing initiatives to enhance global awareness of Dubai’s regulatory landscape and investment opportunities.
The agreement was signed in the presence of senior officials including Helal Saeed Almarri, Director-General of DET, and Abdulfattah Sharaf, Chairman of HSBC Bank Middle East, reinforcing the growing alignment between Dubai’s economic ambitions and global investor interest.
