The MoU will facilitate policy communication between the two cities to explore development in family offices, fintech, green and sustainable finance.
Dubai and Hong Kong have signed a Memorandum of Understanding (MoU) to establish an economic corridor for promoting financial cooperation between Dubai and Hong Kong.
The MoU was signed by Dubai’s Department of Economy and Tourism (DET) and Hong Kong’s Financial Services and the Treasury Bureau at the two-day Belt and Road Summit held in Hong Kong.
Hadi Badri, CEO of Dubai Economic Development Corporation, said:
This strategic alliance is another milestone for Dubai and symbolises our commitment towards realising the vision of our leadership's D33 ambitions to position Dubai as a top 4 global financial capital, as well as building an economic corridor in partnership with Hong Kong, China to generate incremental and sustainable economic growth.
The MoU will facilitate policy communication between the two cities to explore development in family offices, fintech, green and sustainable finance.
The MoU will also seek to develop both cities’ fintech industry, including the digital assets sector, by hosting joint events.
This strategic partnership aims to facilitate innovative collaborations between Dubai and Hong Kong, encompassing activities such as skill development, knowledge sharing, and joint research.
The MoU also adds impetus to Dubai’s Economic Agenda 2033 to consolidate the city’s status as one of the top four global cities and to double the city’s economy in the next decade.
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