The Dubai Department of Economy and Tourism (DET) has entered a strategic partnership with HSBC Bank Middle East Limited, aimed at attracting international corporates, institutional investors, and UHNWIs to Dubai.
This collaboration seeks to bolster investment and capital inflows, enhancing market entry and expansion opportunities within the emirate’s priority sectors.
HSBC Presence in Asian Financial Centres
A significant aspect of this partnership focuses on strengthening connectivity between Asia and the UAE, leveraging HSBC’s established presence in key Asian financial centres to facilitate trade and investment flows.
This collaboration supports the Dubai Economic Agenda, known as D33, which aims to double the size of the city’s economy by 2033 and elevate its global ranking among major cities. The partnership is expected to boost foreign direct investment and encourage private sector growth, thereby reinforcing Dubai’s status as a leading global trade and innovation hub.
Mohamed Al Marzooqi, UAE CEO, HSBC Bank Middle East, said: “Dubai has built one of the world’s most resilient and internationally connected economies, underpinned by strong institutions, forward-looking policy and deep global partnerships. Even amid the current situation in the region, the UAE’s strong fundamentals continue to underpin its long-term position as a trusted hub for trade, investment and capital.”
Outreach Missions Since 2023
DET and HSBC have engaged in outreach missions across Asia and collaborated on investment promotion initiatives since their joint efforts during the 2023 Belt and Road Summit. These efforts have included interactions with corporate delegations from markets such as Japan, Singapore, and China, showcasing opportunities presented by the Dubai Economic Agenda.
Recent economic data indicate a strong momentum for Dubai’s economy, with a GDP of AED 937B in 2025, reflecting a year-on-year growth of 5.4%. FDI projects surged significantly, reaching 643 in the first half of 2025, marking the highest recorded globally in any half-year period since 2003.
DET Expansion with HSBC
The partnership will enable DET to engage with HSBC’s clients considering market entry or expansion into Dubai, providing tailored facilitation and licensing support.
Joint initiatives will also focus on enhancing understanding of Dubai’s regulatory environment, ensuring that HSBC’s teams are well-equipped to navigate the emirate’s dynamic economic landscape.
This agreement reflects the alignment of Dubai’s economic aspirations with HSBC’s commitment to facilitating investment flows, thereby solidifying the emirate’s role as a global centre for enterprise and innovation.
The signing took place in a formal ceremony attended by key officials from both organisations, further highlighting the strategic importance of this collaboration.
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