Hadi Badri, the CEO of the Dubai Economic Development Corporation, affiliated with Dubai’s Department of Economy and Tourism, has asserted that Dubai has become the preferred destination for Hong Kong companies seeking growth and expansion in global markets. He noted that the economic ties between the two regions trace back to the Silk Road, and today they are being revitalized with greater strength and efficacy.
In an interview, Badri stated, “Dubai is experiencing rapid growth in sectors such as finance, logistics, technology, and advanced industries, which has attracted increasing interest from companies in Hong Kong. It has become a natural partner for Chinese firms based in Hong Kong that aim to expand their operations globally.”
He added, “The integration between Dubai and Hong Kong has yielded tangible results, with the Dubai International Financial Centre witnessing a 38% growth in the number of companies in the ‘Innovation Hub’ in 2024, reaching a total of 1,245 firms. This has created thousands of job opportunities and has positioned Dubai as one of the fastest-growing financial technology ecosystems worldwide. Through the Dubai Economic Agenda D33, we aspire to double the size of the emirate’s economy, expand its trade volumes, and solidify its status among the world’s leading financial centers.”
Badri emphasized that the population growth in Dubai enhances the momentum of economic activity, pointing out that the emirate’s population increased by 6% last year. He explained that Dubai is the world’s largest beneficiary of high-net-worth individual migration, as many choose to establish family offices there, thereby strengthening capital bases and their global reach.
Foreign Investment
The CEO of the Dubai Economic Development Corporation highlighted that Dubai has ranked first globally in attracting new foreign direct investment for the year 2024 for the fourth consecutive year, attracting 1,117 projects and experiencing a 30% rise in capital flows. Additionally, over 1,200 digital startups have been launched with the support of the Dubai Chamber of Digital Economy, which is double the number from the previous year.
He pointed out that Dubai’s strength lies not just in capital and logistical connectivity, but also in education. Noteworthy global universities such as the London Business School, Georgetown University, the University of Birmingham, and the Indian Institute of Management Ahmedabad have established their international branches in Dubai. He stated that such institutions contribute to talent development and enhance Dubai’s reputation as a hub for global expertise.
Badri confirmed that Dubai presents exceptional growth and expansion opportunities for entrepreneurs from Hong Kong, whether they are tech founders, family office owners, or operate small and medium enterprises. He noted that ongoing initiatives, such as the ‘Dubai Sandbox’ initiative, allow companies to select new technologies and business models under regulatory supervision, reducing time to market. Meanwhile, innovation testing licenses offer startups the chance to pilot their solutions with direct government support, while business accelerators in partnership with global institutions connect entrepreneurs with funding and mentorship.
He also mentioned that the unified licensing system simplifies market entry by integrating approvals from free zones and governmental entities, making Dubai one of the easiest environments in the world to establish, operate, and grow cross-border businesses. This is especially beneficial given the existence of a double taxation avoidance agreement between the UAE and Hong Kong, in addition to over 40 international trade agreements. He added, “The practical impact of this environment is evident, as Dubai is currently home to over 8,000 Chinese companies across various sectors, and trade volume between the UAE and China exceeds $100 billion annually.”
Moreover, Dubai’s geographical position allows it to connect 70% of the global population within an eight-hour flight, complemented by one of the best air connectivity networks worldwide. Alongside this, our network of trade agreements opens doors for companies to access rapidly growing markets in the Middle East, Africa, Southeast Asia, and beyond.
Small Enterprises
Regarding the small and medium-sized enterprise sector, he stated, “These businesses account for 95% of all registered companies in Dubai and contribute to 60% of the non-oil GDP. In Hong Kong, they represent more than 98% of all firms and nearly half of the private sector workforce.” He added, “Dubai’s standing among the top three global cities for entrepreneurship reflects its infrastructure, networks, and available financing to support the growth of these companies.”
Badri revealed that companies from Hong Kong have already begun their global expansions from Dubai, saying, “Hex Trust launched its regional platform ‘HT Markets MENA,’ making it one of the first financial connector platforms in the region, and Kerry Logistics established its regional hub in Dubai, reducing shipping times between Asia and Europe by up to 40%. Additionally, firms such as Welwing Capital and ARCM are structuring cross-border deals and raising capital from Dubai.”
He concluded, “We signed a memorandum of understanding with the Hong Kong Financial Services and Treasury Bureau to connect regulators, exchanges, and financial institutions in fields such as fintech, green finance, and family offices. Additionally, reciprocal visits, such as the participation of a Hong Kong delegation in the Dubai FinTech Summit, have deepened cooperation, alongside agreements with major entities like HSBC, Standard Chartered, and the Hong Kong Monetary Authority.”
Speaking on the attractiveness of the ‘twin cities’ model, Badri noted, “Dubai provides unparalleled access to markets in the Middle East, Africa, and South Asia, while Hong Kong offers close connections to China and East Asia. Together, they offer comprehensive global coverage without overlap, backed by clear regulatory frameworks and world-class life infrastructure.”
He added, “At the Dubai Economic Development Corporation, part of Dubai’s Department of Economy and Tourism, we are dedicated to helping companies from Hong Kong overcome challenges by facilitating access to government entities, providing market information, and streamlining licensing procedures, giving them the confidence to establish and expand from Dubai.”