The Dubai Department of Economy and Tourism (DET) has signed a strategic agreement with HSBC Bank Middle East, aiming to attract international corporations, institutional investors, and high-net-worth individuals to the emirate. The collaboration is designed to support the ambitious goals of the Dubai Economic Agenda, D33, by creating a more direct channel for global capital to enter the city’s ecosystem.
Quick Facts
- Partnership targets global corporates, investors, and HNWIs.
- A key focus is strengthening the Asia-Middle East investment corridor.
- The deal supports Dubai’s D33 goal to double its economy.
A Structured Pathway for Global Investors
The agreement formalizes a framework where DET’s mandate to grow Dubai’s economy is paired with HSBC’s extensive global network. The goal is to position Dubai as a primary hub for capital deployment, market access, and cross-border expansion across the Middle East, Africa, and South Asia.
Under the terms, DET will provide tailored facilitation, licensing advice, and ecosystem support for HSBC’s international clients looking to establish or expand in Dubai. This includes family offices and businesses setting up regional headquarters or investment platforms in priority sectors identified by the D33 Agenda.
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. 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.”
Tapping the Asia-Middle East Corridor
A central part of the strategy involves leveraging HSBC’s deep roots in major Asian financial hubs to boost investment flows between Asia and the UAE. The collaboration builds on previous joint initiatives, including outreach missions across Asia and engagement with corporate delegations from markets like Japan, Singapore, China, and Hong Kong since 2023.
Mohamed Al Marzooqi, Chief Executive Officer, UAE, HSBC Bank Middle East, commented, “Dubai has built one of the world’s most resilient and internationally connected economies. 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.”
Bolstering Dubai’s Economic Momentum
The partnership arrives as Dubai experiences significant economic growth and investor confidence. The city’s GDP reached approximately AED 937 billion in 2025, a 5.4% year-on-year increase. In the first half of 2025, Dubai attracted 643 Greenfield foreign direct investment (FDI) projects, the highest number recorded globally for a half-year period since FDi Markets began tracking data in 2003.
This new agreement between DET and HSBC aims to build on this momentum, accelerating capital flows and attracting strategic enterprises to further solidify Dubai’s position as a global center for business and innovation.
About 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. It also works to boost the city’s economic and tourism competitiveness indicators, in line with the goals of the Dubai Economic Agenda, D33. 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. DET is the principal authority for planning, supervising, developing and marketing Dubai’s business and tourism sectors.
Source: Zawya
