The Dubai Department of Economy and Tourism (DET) has forged a significant partnership with HSBC Bank Middle East Limited, with the goal of enhancing collaboration to draw in international corporations, institutional investors, and high-net-worth individuals who want to either establish or grow their presence in Dubai. This agreement seeks to bolster connections with global capital market participants, including private equity firms and multinational corporations that wish to tap into regional capital markets or set up financing and treasury operations in the emirate.

Strengthening Global Economic Ties

This alliance merges DET’s mission to propel Dubai’s economic agenda with HSBC’s expansive global network. Together, they aim to position Dubai as a prime destination for capital investment, fostering access to international markets while supporting cross-border expansion within the Middle East, Africa, and South Asia. A critical emphasis of the collaboration is the enhancement of connections between Asia and the UAE, leveraging HSBC’s strong foothold in major Asian financial hubs and its extensive experience in facilitating trade and investment flows between Asia and the Middle East.

The partnership establishes a robust framework for improving Dubai’s business environment, which in turn is designed to enhance global investor confidence. This initiative aligns with the Dubai Economic Agenda, known as D33, which aspires to double the size of the emirate’s economy by 2033. The objectives include solidifying Dubai’s rank among the top three global cities through an increase in foreign direct and private sector investments.

Building on Existing Relationships

Hadi Badri, the CEO of the Dubai Economic Development Corporation, emphasized that this strategic collaboration with HSBC is a progressive step in realizing the goals of the D33 Agenda. This partnership enhances the city’s capability to engage with elite global institutions while building on the successful collaborations already established with HSBC in various international markets. Customers and investors seeking opportunities in Dubai will benefit from a structured approach to market entry and expansion, thus paving the way for diverse economic opportunities in the emirate.

The partnership marks a significant evolution in the relationship between DET and HSBC, which has strengthened through joint initiatives focused on international engagement and investment promotion. Beginning with their initial collaboration during the Belt and Road Summit in Hong Kong in 2023, both organizations have actively endeavored to connect Dubai with global investors and enterprises. Their efforts include joint missions in Asia and strategic dialogues with HSBC’s global leadership to highlight the prospects arising from the D33 Agenda.

A Commitment to Sustainable Growth

The agreement reflects a long-standing commitment between DET and HSBC to align Dubai’s strategic economic interests with the global client network of HSBC. In a climate of growing investor confidence, Dubai’s GDP reached approximately AED 937 billion in 2025, reflecting a 5.4% year-on-year growth. The influx of Greenfield foreign direct investment (FDI) saw an unprecedented 643 projects in the first half of 2025, marking a record in the global landscape for any six-month period since records began in 2003.

Through this partnership, DET plans to engage HSBC’s international corporate and wealth clients interested in entering or expanding in Dubai. Focusing on priority sectors outlined in the D33 Agenda, DET will provide tailored facilitation and licensing guidance to high-net-worth individuals and businesses setting up regional headquarters or investment platforms. Both parties aim to enhance knowledge-sharing and capacity-building initiatives as part of their commitment to strengthening insights into Dubai’s regulatory framework and opportunities.

This strategic partnership is poised to activate significant capital flows and attract leading enterprises, reinforcing Dubai’s vision as a global center for business, investment, and innovation. The agreement was formalized in the presence of influential leaders from both organizations, symbolizing a strong alignment with Dubai’s ambitious economic pathway.