Dubai’s Department of Economy and Tourism (DET) and HSBC Bank Middle East have signed a Memorandum of Understanding (MoU), to further enhance Dubai’s position as a global liveability destination.
The MoU was signed by Mr. Issam Kazim, Chief Executive Officer, Dubai Corporation for Tourism and Commerce Marketing, and Mr. Abdulfattah Sharaf, CEO of HSBC UAE and Head of International, HSBC Bank Middle East Limited.
Under the agreement, DET and HSBC will promote to HSBC customers and employees the unparalleled quality of life in Dubai, its position as a global investment hub and the diverse features of the destination that everyone can enjoy.
“We are pleased to partner with HSBC, a global brand that has played a significant role in the development of Dubai’s business, banking and finance sectors, in showcasing our multi-faceted business and tourism offering. This MoU reflects the trust and confidence reposed in Dubai by multinational corporations and will further enhance our efforts to support the aim of our visionary leadership to make Dubai the most sought-after international city and the most attractive location to live and work in.“
The MoU also envisions collaborations in marketing activities designed to promote events and experiences across the tourism ecosystem to further reinforce the city’s position as a leading international business, leisure and events destination.
With a rising number of international companies preferring Dubai as their base of operations, DET and HSBC will collaborate closely to assist these companies in establishing their operations in the city.
DET and HSBC will promote Dubai’s status as a global liveability hub by highlighting and promoting the city’s initiatives to lower entry barriers for business and leisure travelers, as well as long-term residency initiatives that provide pathways for deeper engagement and longevity with Dubai.
These include the new visas and programs such as the Golden Visa targeting investors, entrepreneurs and specialized talents, the Five-Year Multi-Entry Visa for employees of multinational companies, and the Virtual Working and Retire in Dubai Programs.
Mr. Sharaf, said that “Opening up a world of opportunity is our purpose at HSBC and it is what we have been doing every day for our customers in the UAE since we became the first bank to open our doors for business here more than 75 years ago. HSBC has been with the UAE on every step of that journey and this MoU reflects our commitment to the future of the UAE and our ambitious plans for growth here.“