Abu Dhabi Chamber of Commerce and Industry of the UAE has signed a Memorandum of Understanding (MoU) with Invest Hong Kong (InvestHK). The agreement was signed online by Mr. Ahmed Khalifa Al Qubaisi, chief executive officer of Abu Dhabi Chamber of Commerce and Industry and Ms. Alpha Lau, director-general of Investment Promotion at InvestHK.
Promoting bilateral investment, information sharing
The MoU outlines a pledge for mutual cooperation on investment promotion exchanges and support, fostering a closer relationship for the mutual benefit of Hong Kong and the UAE. This includes promoting both inward and outward investments in both Abu Dhabi and Hong Kong.
Moreover, the deal focuses on sharing information on business environments and investment opportunities, promoting investment between the two sides, and sharing experiences and best practices in attracting foreign investment and investment promotion. It also encourages interested local companies to set up or expand their businesses within the other jurisdiction and provides support to facilitate inward investment between both Abu Dhabi and Hong Kong.
Aligning with Abu Dhabi’s ‘Gateway to the World’ initiative
Mr. Al Qubaisi stated, “This partnership between the Abu Dhabi Chamber of Commerce and Industry and InvestHK aligns with our strategic goals to leverage the diverse and promising investment opportunities in both markets as it promotes collaborative efforts and trade exchanges, thereby bolstering our joint economic interests.”
“Our partnership adds additional and necessary support to the objectives of the ‘Gateway to the World’ initiative, recently launched by the Abu Dhabi Chamber of Commerce and Industry, to expand our international business network, attract multinational corporations, SMEs, investors, and talent to Abu Dhabi, underscoring our commitment to fostering local and global economic growth, ensuring the contribution of the private sector to sustainable development, and facilitating global trade,” he added.
Read more: Trade volume between UAE, Hong Kong surpassed $16 billion in 2023
Hong Kong’s position as a global business hub
Furthermore, Ms. Lau expressed, “This MoU marks a new milestone between Hong Kong and Abu Dhabi in terms of investment promotion exchanges. Hong Kong offers an efficient, reliable business platform bringing Mainland China and the rest of the world together. Meanwhile, Abu Dhabi is a leading economy in the Gulf region and an important source of foreign direct investment in the world,” she added.
“By leveraging Hong Kong’s status as the world’s ‘super connector’, companies from Abu Dhabi and the UAE, and those from Asia can strengthen collaboration, tapping into the growing business opportunities across our two regions.”
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