Dubai Chambers has signed a Memorandum of Understanding (MoU) with HSBC Bank Middle East Limited, aiming to support local companies in expanding into global markets while assisting international firms in establishing and growing their operations in Dubai.
The collaboration is part of the Global Partnerships Programme, an initiative designed to accelerate business growth and attract foreign direct investments (FDI) to the emirate.
Under the MoU, HSBC will offer services such as global trade finance and local account opening for international businesses entering Dubai, while Dubai Chambers will provide support to HSBC’s global clients interested in investing in Dubai and expanding within the region. This partnership aligns with the goals of the 'Dubai Global' initiative, which seeks to enhance Dubai's global connectivity and foster economic growth.
H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, emphasized the importance of the collaboration in accelerating the growth of businesses across various sectors and attracting international investments to the emirate. "This collaboration will contribute to enhancing our efforts to support local companies in expanding internationally," he said.
Stephen Moss, CEO of HSBC Middle East, North Africa, and Türkiye, highlighted Dubai's role as a global business hub, particularly its growing trade links with Asia. He noted that the partnership will help accelerate business growth by combining HSBC’s global reach with Dubai Chambers’ local expertise.
HSBC, the UAE's largest international bank, boasts an extensive global network, covering 90% of world trade. The agreement will also leverage Dubai International Chamber’s 32 international offices, supporting the ambitions of the Dubai Economic Agenda (D33), which aims to double the emirate’s economy over the next decade.
News Source: Dubai Media Office
