The Dubai Department of Economy and Tourism (DET) has signed an agreement with HSBC Bank Middle East Limited to attract corporates, investors and high-net-worth individuals to the emirate.
The agreement was signed by Hadi Badri, CEO of the Dubai Economic Development Corporation (DEDC), the development arm of DET, and Mohamed Al Marzooqi, CEO of HSBC Bank Middle East for the UAE. The signing took place in the presence of Helal Saeed Almarri, Director General of DET, and Abdulfattah Sharaf, Chairman of HSBC Bank Middle East.
Under the terms of the partnership, the two organisations will work to engage with HSBC’s corporate, institutional and private wealth clients that are considering entry or expansion into Dubai. The focus will be on sectors identified as priorities under the Dubai Economic Agenda, D33, which aims to double the size of the emirate’s economy by 2033.
DET, HSBC partner to boost foreign investment in Dubai under D33 agenda
DET will provide facilitation, licensing advice and guidance for high-net-worth individuals, family offices and businesses that are establishing headquarters or investment platforms in the region. The two parties will also collaborate on briefings and capacity-building for HSBC’s teams worldwide to improve understanding of Dubai’s regulations and opportunities.
The partnership is intended to support engagement with capital markets participants, including private equity firms and corporations seeking to access regional capital or establish financing and treasury operations in Dubai.
A stated focus of the agreement is strengthening links between Asia and the UAE. HSBC has offices across Asia’s financial centres and has a role in facilitating trade, investment and capital flows between the two regions.
The agreement builds on work that began during the Belt and Road Summit in Hong Kong in 2023. Since then, DET and HSBC have conducted outreach across Asia, engaged with delegations from Japan, Singapore, China and Hong Kong, and held discussions with HSBC’s leadership and client network.
“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,” Hadi Badri, CEO of the Dubai Economic Development Corporation (DEDC), the economic development arm of DET said in a statement.
The announcement comes as Dubai’s GDP reached approximately AED937 billion in 2025, representing 5.4 per cent year-on-year growth. Greenfield foreign direct investment reached 643 projects in the first half of 2025, which DET described as the highest number recorded in any half-year period since Financial Times Ltd’s fDi Markets began tracking the data in 2003.
“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,” Mohamed Al Marzooqi, Chief Executive Officer, UAE, HSBC Bank Middle East added.
The partnership aims to accelerate capital flows, attract enterprises and support Dubai’s position as a centre for business, wealth creation and trade.
