Dubai DET and HSBC team up to lure global wealth, corporates

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.

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.

WAM