The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
DUBAI / WAM
Charles Ng, Associate Director-General of Investment Promotion at the Invest Hong Kong (InvestHK), said that economic ties between Hong Kong and the UAE are experiencing steady and promising growth driven by shared interests, strategic location, and ambitious development visions.
In statements to the Emirates News Agency (WAM), Ng described the UAE as a key economic and investment partner in the region. He praised the country’s advanced regulatory framework and dynamic business environment, calling them synergistic with Hong Kong’s role as a global financial hub and gateway to key Asian markets such as China, India, and Southeast Asia.
He said that bilateral trade between Hong Kong and the GCC reached around US$21.6 billion in 2023, with a significant share attributed to growing economic exchanges between Hong Kong and the UAE. He highlighted the UAE’s role as a launchpad for companies entering GCC and African markets.
He noted rising interest from UAE investors, including major corporations and family offices, in exploring growth opportunities in Hong Kong. InvestHK, through its Dubai office, offers tailored programmes and direct support to facilitate market entry and expansion.
Financial services remain a leading sector of cooperation, alongside strong momentum in FinTech, advanced manufacturing, logistics, and Islamic finance, Ng stated.
He pointed to increasing interest from UAE banks in establishing offices in Hong Kong, alongside a shared focus on blockchain technologies, digital assets, and stablecoins. He added that regulatory authorities on both sides are cooperating to align frameworks, enhancing the sector’s overall attractiveness.
Ng said the financial services sector is a key focus for UAE investment in Hong Kong, given both economies’ status as global financial hubs. As trade and commercial activity between Asia and the Middle East continues to expand, he noted a corresponding rise in demand for banking, insurance, and trade finance — areas where Hong Kong offers a strategic gateway for regional and international business.
He also highlighted Hong Kong’s efforts to attract family offices, citing a 2023 incentive package that includes a Capital Investment Entrant Scheme, offering residency in return for a minimum investment of $3.8 million. He said Hong Kong’s transparent regulatory environment and broad financial product offerings have drawn growing interest from regional investors.
Ng added that Hong Kong is keen to attract UAE small and medium-sized enterprises, particularly in hospitality, halal food, jewellery, and cultural products. Support includes tax incentives and investment advisory services.
InvestHK operates a dedicated investment promotion unit in Dubai, helping Emirati investors and family offices from the planning phase to business establishment.
He concluded that UAE-Hong Kong collaboration could unlock new potential in innovation, entrepreneurship, and sustainable growth. Ng said Dubai is well-positioned to become a regional industrial base, citing its advanced infrastructure and digital manufacturing progress. Chinese firms, he added, increasingly view Dubai as a strategic entry point to the Middle East and African markets, which together comprise a consumer base of over 3.7 billion people.