Other BriefingsDubai Positions Itself To Attract Hong Kong Financial Services Investments
The UAE’s low taxes, supportive regulatory frameworks, technological innovation and a quality talent pool have made Dubai an attractive home for a growing number of hedge funds, with the country now reaching out to attract businesses from Hong Kong. These attributes could help the Emirate act as a gateway to the Middle East for Hong Kong businesses.
The Dubai International Chamber of Commerce has already begun these moves by establishing a new international office in Hong Kong this year, targeted at driving mutual economic and business growth.
The office will promote trade from Hong Kong to Dubai and attract more businesses from there to the emirate, while also expanding Dubai’s Asia Pacific presence. Dubai, the financial centre for the UAE, is keen to provide its own financial services and reach into the Arabic world to support mainland Chinese private wealth, which Hong Kong has access to via the numerous ‘Wealth Connect’ schemes.
Mainland Chinese investors can also find opportunities via Hong Kong and Dubai into the Middle East and North African regions. Dubai and Hong Kong are also negotiating a Free Trade Agreement promising a further boost in bilateral trade.
Dezan Shira & Associates assist foreign investors throughout Asia, have a presence in both Dubai and Hong Kong and can facilitate trade and investment between the two. Their new, 2023 complimentary Guide to Doing Business in Dubai (click the link to access) and their 2023 Guide to Doing Business in Hong Kong both refer. To discuss options and opportunities in either, please contact Maria Kotova at asia@dezshira.com
Related Reading
- The Middle East’s Tax, Investment, and Trade Agreements with Hong Kong
- The Middle East’s Trade Pivot To East Asia
About Us
Middle East Briefing is one of five regional publications under the Asia Briefing brand. It is supported by Dezan Shira & Associates, a pan-Asia, multi-disciplinary professional services firm that assists foreign investors throughout Asia, including through offices in Dubai (UAE). Dezan Shira & Associates also maintains offices or has alliance partners assisting foreign investors in China (including the Hong Kong SAR), Indonesia, Singapore, Malaysia, Mongolia, Japan, South Korea, Nepal, The Philippines, Sri Lanka, Thailand, Italy, Germany, Bangladesh, Australia, United States, and United Kingdom and Ireland.
For a complimentary subscription to Middle East Briefing’s content products, please click here. For support with establishing a business in the Middle East or for assistance in analyzing and entering markets elsewhere in Asia, please contact us at dubai@dezshira.com or visit us at www.dezshira.com.
