Dubai Chambers Signs MoU with HSBC to Boost Local and Global Business Expansion Efforts

Photo : Dubai Government Media Office

Dubai Chambers has signed an important agreement with HSBC Bank Middle East Limited. This agreement will help local companies grow their businesses in other countries and also make it easier for international companies to start and grow their businesses in Dubai. The main goal of this partnership is to help businesses succeed in Dubai and around the world.

With this agreement, Dubai Chambers and HSBC will work closely to support businesses. HSBC will provide helpful banking services, like opening local bank accounts and offering trade finance for companies that want to trade globally. On the other hand, Dubai Chambers will help international companies, who are HSBC’s clients, set up their businesses in Dubai and grow them from there.

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This partnership is part of the Global Partnerships Programme. This program is run by Dubai Chambers to help make Dubai a better place for businesses. It works with top service providers in different areas to attract more companies to Dubai. The program also supports the Dubai Global initiative, which aims to bring more foreign investments into Dubai and help Dubai-based companies find new business opportunities in other countries.

H.E. Mohammad Ali Rashed Lootah, the President and CEO of Dubai Chambers, said, “We want to help companies in Dubai grow their businesses in other countries. At the same time, we want to make sure global businesses find Dubai a great place to start and grow. This agreement with HSBC will help us do both, making businesses stronger and bringing more investment into Dubai.”

Stephen Moss, CEO of HSBC Middle East, North Africa, and Türkiye, said, “Dubai is now one of the busiest places for businesses in the world. It connects people and companies from different countries. The growing trade between Dubai and Asia is proof of its success. With HSBC’s worldwide network and Dubai Chambers’ local knowledge, we can help even more businesses succeed in Dubai and beyond.”

HSBC is the biggest international bank in the UAE. It is connected to 90% of the world’s trade, making it a strong partner for businesses. Dubai Chambers also has 32 international offices that help businesses grow globally. These offices will support the goals of Dubai’s Economic Agenda (D33), which plans to double the size of Dubai’s economy in the next 10 years and make Dubai one of the top three cities in the world.

This agreement shows how Dubai is working hard to become a better place for businesses. It will make it easier for local companies to grow in new markets and for international companies to find success in Dubai. This partnership will help create a stronger future for Dubai’s economy and for businesses all around the world.