UAE looks forward to more investment from Hong Kong

DUBAI, Feb. 11 (Xinhua) -- Government and business leaders of the United Arab Emirates (UAE) have said that the UAE is looking forward to welcoming more companies from China's Hong Kong Special Administrative Region (HKSAR) to invest in the Gulf country.

They made the remarks during a recent visit to the UAE by a high-level Hong Kong delegation led by HKSAR Chief Executive John Lee. The delegation, comprising more than 30 Hong Kong business heavyweights from various sectors, concluded its four-day visit to the UAE on Friday.

"Investors are keenly looking at Hong Kong's development opportunities after overcoming the epidemic and reopening the economy. The UAE and Hong Kong companies are confident in the further expansion and deepening of friendly cooperation between the two sides," Lee said in an interview with Chinese reporters on Thursday.

He added that Hong Kong and UAE companies could carry out extensive cooperation in financial technology, building smart cities, green technology and environmental protection, biotechnology, energy, logistics and other fields.

The UAE is the largest trading partner for Hong Kong in the Middle East. Non-oil trade between the two sides reached 22.2 billion UAE dirhams (about 6.04 billion U.S. dollars) in the first half of 2022, up 16.2 percent from the same period in 2021 when the annual total non-oil trade hit 37.2 billion dirhams.

Speaking at the UAE-Hong Kong Business Forum held in Dubai on Wednesday, Lee said that he looked forward to deepening Hong Kong's cooperation with the UAE, especially in the field of green and sustainable financing.

The UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi told the forum that he expected more Hong Kong enterprises to invest in the UAE to take advantage of the Gulf country's status as a financial, trading and logistics hub in the Middle East and North Africa.

The Dubai Chambers, which will establish an office in Hong Kong, signed a memorandum of understanding (MoU) with the Hong Kong Trade Development Council (HKTDC) to develop their trade relations.

Lauding the long-standing relations between Dubai and Hong Kong, Abdul Aziz Abdulla Al Ghurair, the chairman of Dubai Chambers, said that this MoU will strengthen the existing relationship and boost trade and investment between the two sides.

The Hong Kong delegation visited Saudi Arabia before its arrival in the UAE on Tuesday.