HONG KONG – Invest Hong Kong and the Abu Dhabi Chamber of Commerce and Industry of the United Arab Emirates on Tuesday signed a memorandum of understanding pledging mutual cooperation on investment promotion exchanges and support.

Alpha Lau, director-general of Investment Promotion at InvestHK, the government agency facilitating direct investments into Hong Kong, and Ahmed Khalifa Al Qubaisi, chief executive officer of Abu Dhabi Chamber of Commerce and Industry, signed the MoU online to foster closer ties for the mutual benefit of Hong Kong and the UAE, enhancing cooperation in promoting both inward and outward investments in both Abu Dhabi and Hong Kong.

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The agreement focuses on sharing information on business environments and investment opportunities with a view to promoting investment between the two places and sharing experiences in attracting foreign investment and best practices regarding investment promotion, the government said in a statement.

By leveraging Hong Kong's status as the world's 'super-connector', companies from Abu Dhabi and the UAE, and those from Asia can strengthen collaboration, tapping into the growing business opportunities across our two regions.

Alpha Lau, DG, Investment Promotion, InvestHK

It also encourages interested local companies to set up or expand their businesses within the area of the other jurisdiction and provides support to facilitate inward investment between both Abu Dhabi and Hong Kong, it added.

The MoU marks a new milestone between Hong Kong and Abu Dhabi in terms of investment promotion exchanges, said Lau.

"By leveraging Hong Kong's status as the world's 'super-connector', companies from Abu Dhabi and the UAE, and those from Asia can strengthen collaboration, tapping into the growing business opportunities across our two regions," she said.

The partnership promotes collaborative efforts and trade exchanges, thereby bolstering our joint economic interests, said Al Qubaisi.

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"Our partnership adds additional and necessary support to the objectives of the 'Gateway to the World' initiative, recently launched by the Abu Dhabi Chamber of Commerce and Industry, to expand our international business network, attract multinational corporations, SMEs, investors, and talent to Abu Dhabi, underscoring our commitment to fostering local and global economic growth, ensuring the contribution of the private sector to sustainable development, and facilitating global trade," he added.