May 28, 2024

China Innovation Centre signs MoUs to support the expansion

The China Innovation Centre, which was launched by Dubai Chambers during day one of the Dubai Business Forum, has signed Memorandums of Understanding (MoUs) with Newlink NaaS, Ecoblox, and Zhejiang Dayu Construction. The agreements will support the three Chinese multinational companies in establishing their businesses in Dubai and leveraging the emirate’s strategic location to expand into regional and global markets.

Newlink NaaS, a renewable energy technology business valued at over US$ 500 million, will showcase its innovative products and solutions at the centre as it prepares to establish its presence in Dubai. Hosted from mid-November until 12th December, the showcase will take place at the same time as the COP28 climate summit and is expected to attract numerous clean energy companies and delegations. Regular business matchmaking and networking events will be hosted throughout the six-week period, in addition to visits from Chinese delegations.

As part of the agreement with Ecoblox, which is based in Wuxi City, Jiangsu Province, the centre will support the company as it expands its distribution of advanced supercomputer technology and strengthens its market share in Dubai. The two parties will also cooperate to promote bilateral research and development partnerships between China and Dubai in the field of commercial applications for the next generation of Chinese supercomputers. Ecoblox is the exclusive regional distributor for Tecorigin, a leading Chinese supercomputing technology provider.

The MoU with Zhejiang Dayu Construction will support the establishment of the company’s regional headquarters in Dubai. Valued at over US$ 1 billion, Zhejiang Dayu Construction is a prominent engineering, procurement, and construction company from China’s Zhejiang Province. The company specialises in a variety of construction projects including highway projects, municipal projects, landscaping projects, interior and exterior design projects, garden restoration projects, earthworks (excluding mining), foundation projects, and water conservation projects.

The first space of its kind in the Middle East, the China Innovation Centre will showcase cutting-edge technologies, host events, and support innovative Chinese companies with their expansions into the UAE and beyond. In cooperation with Dubai Chambers, the centre provides Chinese companies with a one-stop platform to secure business and research partnerships, connect with government entities, and meet potential investors and customers.

The three MoUs were signed at The Deals Hub, a dedicated impact-driven platform for global business leaders and investors to forge and announce major business initiatives, partnerships, investments, and commercial alliances during the Dubai Business Forum. An innovative initiative that reflects Dubai Chambers’ commitment to driving growth in international trade and investment, The Deals Hub further consolidates Dubai’s position as a leading global city for doing business.

Last Updated on 7 months by Middle East News 247

    Middle East News 247

    Middle East News 247

    Middle East News 247 delivers the latest business and lifestyle news and essential infotainment for, and from the Middle East region, with key focus on the GCC nations: United Arab Emirates (UAE), Saudi Arabia, Qatar, Bahrain, Kuwait, and Oman.
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