The Dubai Department of Economy and Tourism announced on Monday the signing of a strategic cooperation agreement with HSBC Middle East Limited to enhance collaboration in attracting global companies and individual high-net-worth investors looking to establish or expand their presence in the emirate.
The department stated that the agreement aims to create a communication mechanism among key players in global capital markets, including financial institutions, private equity firms, and multinational corporations seeking access to regional capital sources or to launch their financing and treasury management services in Dubai.
The agreement was signed in the presence of His Excellency Helal Saeed Al Marri, Director General of the Dubai Department of Economy and Tourism, and Abdelfattah Sharf, Chairman of HSBC Middle East. The signatories were Hadi Badri, CEO of the Dubai Economic Development Corporation, the economic development arm of the department, and Mohamed Al Marzouqi, CEO of HSBC Middle East in the UAE.
A New Step
Hadi Badri noted that the strategic collaboration with HSBC represents a significant milestone towards achieving the goals outlined in Dubai’s D33 Economic Agenda. He emphasized the emirate’s continuous efforts to establish itself as a favored destination for global companies and investors. The agreement highlights the capability to connect with leading global institutions and firms, bolstered by the fruitful collaboration with HSBC across multiple key global markets. By leveraging the department’s business facilitation capabilities alongside HSBC’s international presence, the agreement aims to provide a structured pathway for global companies and investors to establish and grow their operations in Dubai, thereby enriching the emirate’s diverse economic landscape.
This agreement fortifies the relationship between the Dubai Department of Economy and Tourism and HSBC, which has significantly developed over recent years through joint initiatives aimed at enhancing communication with global markets and promoting investment. The two parties have worked together since their partnership began during the Belt and Road Initiative summit in Hong Kong in 2023, highlighting Dubai and increasing global investor interest in the emirate as a prime investment destination.
This includes organizing joint promotional missions across Asia and engaging with company delegations from key markets such as Japan, Singapore, China, and Hong Kong, as well as holding a series of strategic discussions with HSBC’s global senior management and client network to showcase opportunities within the Dubai Economic Agenda D33.
Strong Foundations
Mohamed Al Marzouqi stated that Dubai has established robust foundations for creating one of the most resilient and interconnected economies in the world, supported by strong institutions, forward-looking policies, and solid global partnerships. Despite the current regional circumstances, the enduring strengths of the UAE continue to underpin its status as a reliable hub for long-term trade, investment, and capital flow. He added that the goal of the partnership with the Dubai Department of Economy and Tourism is to connect global investors with opportunities across Dubai’s dynamic economic sectors. HSBC’s international network, particularly in Asia, places it in an excellent position to facilitate investment flow along this corridor, which connects Asia to the Middle East, one of the key growth drivers globally.
The bank, celebrating 80 years of presence in the UAE, is committed to supporting Dubai’s ambitions of being a leading international center for business, finance, and innovation, assisting its clients in adapting with confidence to changing conditions.
The partnership builds upon Dubai’s strong economic momentum while maintaining investor confidence, with the emirate’s GDP expected to reach approximately AED 937 billion by 2025, reflecting an annual growth rate of 5.4%. The number of new foreign direct investment projects surged to 643 during the first half of 2025, marking the highest recorded number globally in semi-annual periods since the Financial Times began tracking this data in 2003 through the FDI Markets index. These findings are a clear testament to the ambitious vision of the leadership, an evolving regulatory framework, and a vibrant innovation ecosystem driving the emirate’s economic transformation.
Under this agreement, the Dubai Department of Economy and Tourism will collaborate with HSBC’s international clients and high-net-worth individuals aiming to enter or expand their presence in the Dubai market, focusing on priority sectors in the Dubai Economic Agenda D33. The department will provide tailored facilitation services, licensing consultations, and guidance on the business environment for individuals, family offices, and companies establishing regional headquarters or investment platforms. Both parties will also collaborate on knowledge exchange initiatives and capacity-building programs with HSBC’s global teams to deepen their understanding of the regulatory environment, digital infrastructure, and opportunities across various sectors in the emirate.
Economic Opportunities
The cooperation agreement between the Dubai Department of Economy and Tourism and HSBC Middle East reflects the alignment of growing economic opportunities in Dubai with the increasing interest from HSBC’s global client network in establishing and expanding their investments in the emirate. By harmonizing government facilitation with the bank’s international client network, the agreement aims to accelerate capital flow, attract strategic institutions, and solidify Dubai’s position as a leading global center for business, wealth generation, and innovation.
The collaboration leverages the Department of Economy and Tourism’s role in driving the emirate’s economic agenda alongside HSBC’s international presence and client base, reinforcing Dubai’s status as a preferred destination for capital investment, access to global markets, and expansion across various regions including the Middle East, Africa, and South Asia.
Strengthening economic and investment ties between Asia and the UAE stands as a core tenet of this partnership, utilizing HSBC’s substantial presence in major Asian financial hubs and its ongoing role in facilitating trade, investment, and capital flows between Asia and the Middle East.
The agreement establishes a comprehensive framework for collaboration, aimed at supporting Dubai’s attractive business environment, bolstering global investor confidence, and reinforcing the emirate’s position as a leading global hub for trade, investment, and innovation.
Additionally, the agreement supports the objectives of the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy by 2033, solidifying its position among the world’s top economic cities through increased foreign direct investment and enhanced private sector investments.