Cooperation between "Economy and tourism in Dubai" and"HSBC" To accelerate the flow of investment and capital
DUBAI, April 13, 2017 (WAM) – The Department of Economy and Tourism in Dubai announced today the signing of a strategic cooperation agreement with HSBC Bank Middle East Limited, to enhance joint cooperation to attract international companies and institutional investors, as well as high-net-worth individuals who wish to be present within the emirate or expand their business there.
The department explained in a statement that the agreement would create a communication mechanism between players in global capital markets, including financial institutions, private equity companies, as well as multinational companies, which are looking to access regional business capital sources or launch their services related to financing and treasury management operations in Dubai.
The cooperation is based on the role of the Department of Economy and Tourism in Dubai in advancing the emirate’s economic agenda, and the global presence of HSBC Bank and its international base of customers, which consolidates Dubai’s position as a preferred center for employing capital, accessing global markets, and expanding into various markets in the Middle East, Africa and South Asia.
Strengthening the economic and investment interconnection between Asia and the UAE is a main focus of this partnership, as it will benefit from HSBC’s wide presence in the most prominent Asian financial centers, and its extended role in facilitating trade and investment movement, and capital flows between Asia and the Middle East region.
The agreement establishes a comprehensive framework for cooperation, which aims to support the attractive business environment in Dubai, enhance the confidence of global investors, and consolidate the emirate’s position as a leading global center for trade, investment and innovation.
The agreement also supports the goals of the Dubai Economic Agenda D33, which aims to double the size of the emirate’s economy by 2033, and consolidate its position among the best economic cities in the world, by increasing foreign direct investment flows and enhancing private sector investments.
His Excellency Hadi Badri, Executive Director of the Dubai Economic Development Corporation, the economic development arm of the Department of Economy and Tourism in Dubai, said that this strategic cooperation with HSBC Bank represents a new step towards achieving the goals of the Dubai Economic Agenda D33, especially as the emirate continues to consolidate its position as a preferred destination for global companies and investors.
He explained that the agreement confirms our ability to communicate with the most prominent international institutions and companies, based on the fruitful and constructive cooperation we have achieved with HSBC Bank in many major global markets. By combining the capabilities of the department in facilitating business and the global presence of HSBC Bank, we seek to create an organized path that ensures international companies and investors establish and expand their businesses in Dubai, which opens new horizons to enrich the diverse economic landscape in the emirate.
This agreement strengthens the relationship between the Department of Economy and Tourism in Dubai and HSBC Bank, which has witnessed remarkable development over the past few years through joint initiatives to increase communication with global markets and promote investment.
Since their joint cooperation during the Belt and Road Initiative summit in Hong Kong in 2023, the two parties have worked to highlight Dubai and increase the interest of international investors and companies in it as a preferred destination for investment.
This included organizing joint promotional missions throughout Asia, communicating with corporate delegations from major markets such as Japan, Singapore, China and Hong Kong, in addition to holding a series of strategic conversations with HSBC’s global senior management and its client network, with the aim of highlighting the opportunities available within Dubai’s “D33” economic agenda.
For his part, Mohammed Al Marzouqi, CEO of HSBC Bank Middle East in the United Arab Emirates, said that Dubai has laid strong foundations for creating one of the most flexible and interconnected economies on the global level, supported by strong institutions, forward-looking policies and solid global partnerships. Even in light of the current situation in the region, the strong components that the UAE enjoys are still the foundation supporting its position as a reliable center for trade, investment and capital movement in the long term.
He added that the goal of the partnership with the Department of Economy and Tourism in Dubai is to connect global investors with the opportunities available in various dynamic economic fields in Dubai, and the “HSBC” international network, especially in Asia, provides us with a distinguished location to facilitate investment flows along this corridor that connects Asia and the Middle East region, which is still considered one of the most important growth engines in the world.
He stressed the bank’s commitment, which is celebrating 80 years of its presence in the UAE, to support Dubai’s established ambitions as a leading international center for business, finance and innovation, and to help its customers adapt to changing circumstances with confidence.
This partnership is based on the strong economic momentum in Dubai and maintaining investor confidence, as the emirate’s gross domestic product reached about 937 billion dirhams during the year 2025, recording an annual growth rate of 5.4%, while the number of new foreign direct investment projects increased to 643 projects during the first half of 2025, which is the highest number recorded globally during semi-annual periods since the Financial Times began tracking this data in 2003 through an index. FDI Markets.
These results constitute clear evidence of the ambitious vision of the wise leadership, the advanced regulatory framework, and the vital innovation system that is leading the process of economic transformation of the emirate.
Under the agreement, the Dubai Department of Economy and Tourism cooperates with HSBC’s international clients, including companies, institutions and high-net-worth individuals, who seek to enter the market in Dubai or expand their presence in it, with a focus on vital sectors within Dubai’s “D33” economic agenda.
The department will provide customized facilitation services, licensing consultations, and business environment guidance to individuals, family offices, and companies establishing regional headquarters or investment platforms.
The two parties will cooperate in a set of knowledge exchange and capacity-building programs with the bank’s global teams, which will contribute to deepening their knowledge of the regulatory environment, digital infrastructure, and opportunities available in various sectors in the emirate.
The cooperation agreement between the Department of Economy and Tourism in Dubai and HSBC Bank Middle East reflects the compatibility between the growing economic opportunities in Dubai and the increasing interest of HSBC’s global network of customers in being present in the emirate and increasing their investments and expansion therein.
By aligning government facilities with the bank’s global network of clients, the agreement aims to accelerate capital flows, attract strategic institutions, as well as consolidate Dubai’s position as a leading global center for business, wealth growth and innovation.
The agreement was signed in the presence of His Excellency Helal Saeed Al Marri, Director General of the Department of Economy and Tourism in Dubai, and Abdel Fattah Sharaf, Chairman of the Board of Directors of HSBC Bank Middle East, while it was signed by His Excellency Hadi Badri, Executive Director of the Dubai Economic Development Corporation, the economic development arm of the Department of Economy and Tourism in Dubai, and Mohammed Al Marzouqi, CEO of HSBC Bank Middle East in the UAE.
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