Dubai and Hong Kong establish corridor to promote family offices, fintech and green finance
- Dubai signs agreement with Hong Kong government, Standard Chartered to promote cross border financial activities, family offices
- Hong Kong and Egypt sign an MOU allowing the two to share information on setting up businesses and about investment opportunities in their territories
The governments of Dubai and Hong Kong have signed an agreement to establish an economic corridor for promoting cross border trading, family offices, fintech and green finance, according to a statement from the Middle East government on Thursday.
Dubai’s Department of Economy and Tourism (DET) and Hong Kong’s Financial Services and the Treasury Bureau signed the Memorandum of Understanding (MOU) at the two-day Belt and Road Summit which was held in Hong Kong on Wednesday and Thursday.
“This landmark agreement MOU is aligned with the financial services priorities of both cities’ governments,” said Hadi Badri, CEO of Dubai Economic Development Corporation, part of DET.
He described the MOU was for “building an economic corridor in partnership with Hong Kong, China to generate incremental and sustainable economic growth.”
“I am confident that this MOU will provide a platform for greater economic collaboration between stakeholders participating in the family office and financial services industries in both cities,” Badri said.
