The Dubai Department of Economy and Tourism (DET) has entered into a strategic agreement with HSBC Bank Middle East Limited to deepen collaboration aimed at attracting international corporates, institutional investors, and high-net-worth individuals looking to establish or expand operations in Dubai.

The partnership is designed to enhance engagement with global capital markets participants, including institutional allocators, private equity firms, and multinational corporations seeking access to regional capital pools or to establish financing and treasury functions in the emirate.

By aligning DET’s economic development mandate with HSBC’s global network, the agreement supports Dubai’s positioning as a hub for capital deployment, international market access, and cross-border expansion across the Middle East, Africa, and South Asia.

A key focus of the collaboration will be strengthening connectivity between Asia and the UAE, leveraging HSBC’s established presence across major Asian financial centers and its role in facilitating trade, investment, and capital flows between Asia and the Middle East.

The framework outlines joint efforts to reinforce Dubai’s business ecosystem, strengthen investor confidence, and further establish the city as a global center for trade, investment, and innovation. The initiative supports the Dubai Economic Agenda D33, which aims to double the emirate’s economy by 2033 and position Dubai among the world’s top three cities, partly through increased foreign direct investment and private-sector expansion.

Helal Saeed Almarri, Director General of DET, said the partnership will enhance Dubai’s ability to connect with leading global institutions, creating structured pathways for international businesses and investors to enter and scale within the emirate.

The agreement builds on an existing relationship between DET and HSBC, which has expanded since 2023 through joint international outreach and investment promotion initiatives across key Asian markets, including Japan, Singapore, China, and Hong Kong.

Mohamed Al Marzooqi, CEO of HSBC Bank Middle East for the UAE, said the UAE’s strong economic fundamentals continue to reinforce its position as a global hub for trade and investment. He added that HSBC’s international network, particularly across Asia, will help facilitate investment flows along the Asia–Middle East corridor.

The partnership comes amid sustained economic momentum in Dubai, with GDP reaching approximately AED 937 billion in 2025, reflecting annual growth of 5.4%. Greenfield foreign direct investment also recorded 643 projects in the first half of 2025, the highest number globally for a half-year period since tracking began in 2003.

Under the agreement, DET will work with HSBC’s global client base to support market entry and expansion into Dubai, offering advisory support on licensing and ecosystem navigation, particularly for high-net-worth individuals, family offices, and companies establishing regional headquarters or investment platforms. The collaboration will also include knowledge-sharing initiatives to deepen understanding of Dubai’s regulatory environment and investment opportunities.

The agreement was signed in the presence of Helal Saeed Almarri, Director General of DET, and Abdulfattah Sharaf, Chairman of HSBC Bank Middle East.