UAE, China well poised to take relations to new level
As part of ‘Dubai Week in China’, DIFC highlighted its stature as a mature financial ecosystem to Chinese firms that are eyeing an international presence across the Middle East and wider region.
Dubai — Dubai International Financial Centre, or DIFC, has successfully concluded a week-long visit to Beijing, elaborating on Dubai’s potential as a competitive global business destination and exploring investment opportunities with a view to strengthening the economic growth of both China and the UAE.
As part of ‘Dubai Week in China’, DIFC highlighted its stature as a mature financial ecosystem to Chinese firms that are eyeing an international presence across the Middle East and wider region. The conference convened the UAE’s government officials and senior business leaders including Reem Ibrahim Al Hashemi, UAE Minister of State and Honorary President of Falcon and Associates. In meetings spread over 8-15 May, the DIFC delegation conducted a series of presentations and discussions with leading industries and individuals in Beijing. During the summit, clients from prominent financial and non-financial institutions expressed interest in DIFC’s widely-appreciated regulatory framework, legal systems and enabling infrastructure.
“Through the recent engagement, the two countries are well poised to push their strategic partnership to a new level. Given DIFC’s regional and international recognition as one the most sought-after financial hubs, we have received strong interest from Chinese financial institutions, investment banks and professional firms that seek to initiate or grow their presence in the financial hub to benefit from the opportunities presented by regional high-growth markets,” said Arif Amiri, deputy chief executive officer at Dubai International Financial Centre Authority.
“DIFC is keen to leverage this expression of interest to open up rewarding economic, commercial and investment opportunities for the Chinese institutions. More importantly, DIFC will serve as an ideal platform in supporting the progress of China’s growth.”
As part of the week-long summit, Arif Amiri delivered the keynote address at ‘Invest in Dubai’ session that convened prominent Chinese government leaders and high-net worth individuals and deliberated on aspects such as economic engagement, bilateral ties, and the emerging opportunities in the region. Reiterating DIFC’s commitment as being the global financial hub, Amiri said the centre’s unique geographical position and its world-class regulatory framework serve as a key gateway for Chinese companies to access markets in the Middle East and the wider region.
In addition, Amiri stressed DIFC’s strong commitment to consolidate its position as a financial powerhouse that offers the most attractive infrastructure, enhanced legal and judicial framework, and investment-friendly laws. “2014 was the most successful year for DIFC with an 18 per cent increase in the number of active registered companies operating within the Centre. Today, there are 2,000 more people working at DIFC than a year ago,” Amiri concluded.
Dubai is home to a large number of Chinese companies and nationals who account for a significant population of the emirate. DIFC is currently home to four of China’s largest banks and a number of Chinese firms including oil giant Petro China.
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