UAE and Hong Kong Grow Strong Business and Investment Ties

Post by : Elena Malik

Dubai – Charles Ng, who is the Associate Director-General of Investment Promotion at Invest Hong Kong (InvestHK), said that business and economic ties between Hong Kong and the UAE are growing steadily and look very promising. This growth is thanks to shared goals, good location, and strong plans for the future.

Ng called the UAE an important partner in business and investment in the region. He praised the UAE’s advanced laws and lively business scene, saying they work well with Hong Kong’s role as a world financial center and gateway to important Asian markets like China, India, and Southeast Asia.

He said that trade between Hong Kong and the Gulf Cooperation Council (GCC) countries was about $21.6 billion in 2023. A big part of this trade comes from growing business between Hong Kong and the UAE. He pointed out that the UAE acts as a starting point for companies wanting to enter the GCC and African markets.

He also noticed growing interest from investors in the UAE, including big companies and family investment groups, who want to explore new business chances in Hong Kong. InvestHK, through its Dubai office, offers special programs and help to make it easier for companies to enter and grow in the Hong Kong market.

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Financial services are one of the main areas where Hong Kong and the UAE work together. There is also strong growth in financial technology (FinTech), advanced manufacturing, shipping and logistics, and Islamic finance, Ng said.

He mentioned that more UAE banks want to open offices in Hong Kong. Both sides are also focused on technologies like blockchain, digital money, and stablecoins. Regulators from the UAE and Hong Kong are working together to make rules more similar, which makes the financial sector more attractive.

Ng explained that the financial sector is very important for UAE investments in Hong Kong because both places are top financial centers. As trade between Asia and the Middle East grows, more businesses need banking, insurance, and trade finance services. Hong Kong is a key place for companies to do business across the region and the world.

He also talked about how Hong Kong wants to attract family investment groups. In 2023, Hong Kong offered a new plan called the Capital Investment Entrant Scheme, which gives residency to those who invest at least $3.8 million. Hong Kong’s clear rules and wide range of financial products are attracting more investors from the region.

Ng added that Hong Kong is interested in small and medium businesses from the UAE, especially in hospitality, halal food, jewelry, and cultural goods. These businesses get help like tax breaks and advice on investing.

InvestHK has a special team in Dubai that helps UAE investors and family offices from their first steps until their businesses are set up.

Ng said that the cooperation between the UAE and Hong Kong can open new doors for ideas, new businesses, and steady growth. He also said Dubai is ready to become a regional hub for industry because of its modern facilities and progress in digital manufacturing. Many Chinese companies see Dubai as a smart gateway to reach the Middle East and Africa, which together have over 3.7 billion consumers.

This growing partnership between the UAE and Hong Kong shows strong business ties and shared goals for the future.

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