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12-03-2019 Media in\ Dubai
Officials from Dubai’s Department of Economic Development (DED) and the Hong Kong Trade Development Board signed new agreements during a strategic meeting recently held in Dubai.
The signing ceremony was followed by a meeting chaired by the Dubai Economic Authority, which included its affiliates, represented by Dubai Investment Development Corporation and Dubai Export Development Corporation.
The Dubai Investment Development Corporation (DEDI), a Dubai Economic Corporation (DED), has signed a Memorandum of Understanding (MoU) with the Hong Kong Trade Development Council (HKDC) as part of its ongoing efforts to enhance trade and investment ties with major cities in the world and to develop business and business relations in strategic sectors. Cooperation with the Hong Kong Trade Development Board.
This came in the presence of HE Sami Al Qamzi, Director General of the Department of Economic Development in Dubai and Andrew Weir, member of the Hong Kong Trade Development Council and responsible for the International Working Group of the Belt and Road Initiative, Vice President of KMB.
J. China, and Margaret Fong, Executive Director of the Hong Kong Trade Development Council, along with the signatories Fahd Al Gergawi, CEO of Dubai Investment Development Corporation, Eng. Saed Al Awadi, Executive Director of Dubai Export Development Corporation and Peri Fung, Regional Director for the Middle East and Africa, Hong Kong Trade Development Council.
HE Sami Al Qamzi said that Dubai’s efforts and continuous efforts have resulted in the expansion of its business network in the Asia-Pacific region. This progress was achieved through the signing of new agreements between Dubai Economic Institutions represented by Dubai Investment Development Corporation and Dubai Export Development Corporation. He said that these agreements confirm closer trade relations and strengthen partnership with the international business community, including Hong Kong and the Republic of China in general.
He pointed out that Hong Kong is one of the most active investors in Dubai among the major sectors. The volume of foreign direct investment capital from Hong Kong to Dubai during the period from 2015 to 2018 is about 275 million UAE dirhams with a total of 13 projects under implementation. “Dubai-Hong Kong shares many interests, notably the Belt and Road Initiative, which we expect Dubai’s economy to be a key partner in the years to come.”
For his part, Fahad Al-Gergawi expressed his pleasure to document the partnership for the second year in a row, as the influx of investors from Hong Kong to the economic projects in Dubai was noted. The initiative is a development strategy that will contribute to Said he believes the agreement will create synergies between leading companies in Dubai and Hong Kong and will contribute to accelerating development and progress in Asia and the Middle East.
Eng. Saed Al Awadhi expressed his delight at the renewal of the strategic cooperation agreement that the Corporation is holding with the Hong Kong Trade Development Council (HKTDC) as part of the signed agreements to explore more opportunities offered by Dubai and Hong Kong as leading business centers in the Middle East and Asia. Which will be held on both sides, the exchange of information on the market, trade, exporters support and business facilitation of buyers further momentum as both sides implement the new initiatives within a three-year plan.
