--- title: "ZAWYA: Dubai Department of Economy and Tourism and HSBC sign strategic agreement" type: "News" locale: "en" url: "https://longbridge.com/en/news/282538226.md" description: "The Dubai Department of Economy and Tourism (DET) has signed a strategic agreement with HSBC Bank Middle East to attract global corporates and investors to Dubai. This partnership aims to enhance market entry and expansion for international businesses in priority sectors, leveraging HSBC's global network. The collaboration supports Dubai's Economic Agenda, D33, which seeks to double the economy by 2033. The agreement also focuses on strengthening connectivity between Asia and the UAE, promoting foreign direct investment, and reinforcing Dubai's status as a leading global hub for trade and innovation." datetime: "2026-04-13T11:42:38.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/282538226.md) - [en](https://longbridge.com/en/news/282538226.md) - [zh-HK](https://longbridge.com/zh-HK/news/282538226.md) --- # ZAWYA: Dubai Department of Economy and Tourism and HSBC sign strategic agreement - Partnership aims to attract global corporates, investors, and high-net-worth individuals to Dubai - Collaboration will support international businesses’ market entry and expansion into Dubai’s priority sectors **Dubai, United Arab Emirates**: The Dubai Department of Economy and Tourism (DET) has signed a strategic agreement with HSBC Bank Middle East Limited to further deepen cooperation aimed at attracting international corporates, institutional investors and high-net-worth individuals seeking to establish or expand their presence in the emirate. The partnership will also support deeper engagement with global capital markets participants, including institutional allocators, private equity firms and multinational corporations seeking to access regional capital pools or establish financing and treasury operations in Dubai. The agreement brings together DET’s mandate to drive Dubai’s economic agenda with HSBC’s global network and international connectivity, to further position Dubai as a preferred hub for capital deployment, access to global markets, and support cross-border expansion across the Middle East, Africa, and South Asia. A key focus of the partnership will be strengthening connectivity between Asia and the UAE, leveraging HSBC’s extensive presence across major Asian financial centres and its longstanding role in facilitating trade, investment and capital flows between Asia and the Middle East. The agreement sets out a comprehensive framework for collaboration to enhance Dubai’s business ecosystem, boost global investor confidence, and reinforce the city’s status as a leading global hub for trade, investment, and innovation. It supports the Dubai Economic Agenda, D33, which aims to double the size of Dubai’s economy by 2033 and further consolidate its ranking among the world’s top three global cities, including by increasing foreign direct investment and private sector investment. His Excellency Hadi Badri, CEO of the Dubai Economic Development Corporation (DEDC), the economic development arm of DET, said: “As Dubai continues to strengthen its position as a preferred destination for global businesses and investors, this strategic partnership with HSBC represents another step forward in delivering on the goals of the Dubai Economic Agenda, D33. The partnership enhances our ability to connect with the world’s leading institutions, building on the strong collaboration we have already developed with HSBC across key international markets. By aligning DET’s business facilitation capabilities with HSBC’s global reach, we are creating a structured pathway for international companies and investors to establish and expand in Dubai, opening up new opportunities across the emirate’s diverse economic landscape.” The agreement consolidates a strong working relationship between DET and HSBC, which has evolved significantly in recent years through joint international engagement and investment promotion initiatives. Since the initial collaboration launched with HSBC during the Belt and Road Summit in Hong Kong in 2023, the two organisations have worked closely to connect Dubai with global investors and businesses. This has included joint outreach missions across Asia, engagement with corporate delegations from key markets such as Japan, Singapore, China and Hong Kong, and a series of strategic dialogues with HSBC’s global leadership and client network to showcase the opportunities created by the Dubai Economic Agenda, D33. Mohamed Al Marzooqi, Chief Executive Officer, UAE, 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. Through our partnership with the DET, we aim to help connect global investors with opportunities across Dubai’s dynamic economy. HSBC’s international network, particularly across Asia, positions us well to facilitate investment flows along the Asia–Middle East corridor, which remains one of the world’s most important growth engines. As we mark 80 years in the UAE, we remain committed to supporting Dubai’s enduring ambitions as a leading international centre for business, finance and innovation and to helping our clients navigate evolving conditions with confidence.” The partnership builds on Dubai’s strong long-term economic momentum and sustained investor confidence. The city’s GDP reached approximately AED937 billion in 2025, representing 5.4% year-on-year growth, while Greenfield foreign direct investment (FDI) surged to 643 projects in H1 2025, the highest number recorded globally in any half-year period since Financial Times Ltd’s FDi Markets began tracking the data in 2003. These results are a testament to visionary leadership, progressive regulatory framework and a vibrant innovation ecosystem driving the city’s economic transformation. Under the agreement DET will engage with HSBC Bank’s international corporate, institutional, and private wealth clients considering market entry or expansion into Dubai, with a focus on priority sectors identified under the D33 Agenda. DET will offer tailored facilitation, licensing advice, and ecosystem navigation for high-net-worth individuals, family offices, and businesses establishing regional headquarters or investment platforms. Both parties will also collaborate on knowledge-sharing and capacity-building for HSBC’s global teams, enhancing understanding of Dubai’s regulatory environment and opportunities, with recent activities including strategic briefings and participation in DET forums. The partnership agreement between DET and HSBC Bank Middle East reflects the growing alignment between Dubai’s future economic opportunities and interest from HSBC’s global client network to establish, invest and grow in the emirate. By aligning government facilitation with HSBC’s global client network, the partnership aims to accelerate capital flows, attract strategic enterprises and further strengthen Dubai’s long-term trajectory as a global hub for enterprise, wealth creation, and innovation. In the presence of His Exellency Helal Saeed Almarri, Director General of Dubai Department of Economy and Tourism, and Abdulfattah Sharaf, Chairman of HSBC Bank Middle East, the agreement was signed by His Excellency Hadi Badri, CEO of the Dubai Economic Development Corporation (DEDC), the economic development arm of DET, and Mohamed Al Marzooqi, Chief Executive Officer, UAE, HSBC Bank Middle East. About the Dubai Department of Economy and Tourism (DET) With the ultimate vision of making Dubai the world’s leading commercial centre, investment hub and tourism destination, the Dubai Department of Economy and Tourism (DET) is mandated to support the Government in positioning the emirate as a major hub for global economy and tourism, and in boosting the city’s economic and tourism competitiveness indicators, in line with the goals of the Dubai Economic Agenda, D33, which aims to double the size of the emirate’s economy and consolidate its position among the top three global cities over the next decade. Under this remit, DET is driving efforts to further enhance Dubai’s diversified, innovative service-based economy to attract top global talent, deliver a world-class business environment and accelerate productivity growth. Additionally, DET is supporting Dubai’s vision to become the world’s best city to visit, live and work in by promoting its diverse destination proposition, unique lifestyle and outstanding quality of life, overall. DET is the principal authority for planning, supervising, developing and marketing Dubai’s business and tourism sectors. It is also responsible for licensing and classifying all types of businesses, including hotels, tour operators and travel agents. DET’s portfolio includes Dubai Economic Development Corporation (DEDC), Dubai Business Registration and Licensing Corporation (DBLC), Dubai Corporation for Consumer Protection and Fair Trade (DCCPFT), Dubai SME, Dubai Corporation for Tourism and Commerce Marketing (DCTCM), Dubai Festivals and Retail Establishment (DFRE) and Dubai College of Tourism (DCT). **About HSBC in the MENAT region** HSBC is the largest and most widely represented international banking organisation in the Middle East, North Africa and Türkiye (MENAT), with a presence in nine countries across the region: Algeria, Bahrain, Egypt, Kuwait, Oman, Qatar, Saudi Arabia, Türkiye and the United Arab Emirates. In Saudi Arabia, HSBC is a 31% shareholder of Saudi Awwal Bank (SAB), and a 51% shareholder of HSBC Saudi Arabia for investment banking in the Kingdom. Across MENAT, HSBC had assets of USD83bn as at 31 December 2025. www.hsbc.ae **For further information, please contact:** mediarelations@dubaidet.ae \[+971\] 600 55 5559 Send us your press releases to pressrelease.zawya@lseg.com Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release. The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. 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