Dubai Chambers and HSBC promote companies’ global expansion

Dubai Chambers concluded a memorandum of understanding with HSBC Bank Middle East Limited, with the aim of supporting local companies to expand in global markets, and enhancing the ability of international companies to establish and grow their businesses in Dubai.

A statement issued yesterday stated that, according to the memorandum, the two parties will cooperate to enhance the banking services allocated to companies that Dubai Chambers attracts to the emirate, and other services for the business community in Dubai in general, in a way that contributes to enhancing the growth of local and international companies operating in the emirate, and supporting their ability to expand locally, regionally and globally. .

HSBC will provide global trade financing services and local account opening services for companies, and Dubai Chambers, in turn, will support the bank’s clients around the world who wish to invest in Dubai and grow their businesses from the emirate.

The memorandum of understanding with HSBC comes within the framework of the “Global Partnerships Programme,” which enhances the efforts of Dubai Chambers in attracting foreign investments and expanding the business of local companies in promising foreign markets, through cooperation with global service providers across eight commercial categories. In line with the objectives of the Dubai Global initiative to help Dubai companies explore new business opportunities and attract foreign direct investments.

Director General of Dubai Chambers, Mohammed Ali Rashid Lootah, said: “Dubai Chambers is committed to supporting local companies to expand into promising international markets, and to helping companies develop their businesses and activities. We are also keen to strengthen the efforts made to accelerate the growth of companies in various sectors and attract global investments to Dubai.”

For his part, HSBC Regional CEO for the Middle East, North Africa and Turkey, Stephen Moss, said: “Dubai has strengthened its position as a major global business centre, and its close connection with the world is reflected in the growth of its trade with all traditional and emerging markets and trade corridors, especially With Asia.

He added: “HSBC Bank’s cooperation, with its international reach, with Dubai Chambers will contribute to enhancing the growth of companies’ business in and from Dubai.”

The memorandum of understanding with HSBC Bank, which is the largest foreign bank in the UAE with a global branch network covering 90% of international trade, contributes to supporting companies and the business community through the global partnerships program, through the network of external offices of the Dubai International Chamber, There are 32 offices around the world.