China’s HSBC Finance Group announced plans to open an office at the Dubai International Financial Center (DIFC) in the second half of this year.
“HSBC will launch an investment fund with a capital of $ 100 million to invest in small and medium enterprises within the country,” said Peter Chun, founder, and general manager of the group.
Chun said the fund aims to cooperate with SMEs through funding and partnership, in order to invest in education, healthcare and information technology. The new fund will be financed by 20% domestic financing and 80% Chinese and Asian financing.
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Chun explained that financing through his group would be more flexible, easier and easier terms than other financiers. Chun said he believes that the best investment in the region is in Dubai due to the city’s openness, excellent infrastructure, commercial relations and its strong association with the majority of the world.
His group has therefore chosen to open its headquarters in the Dubai International Financial Center and invest in the UAE and move to other countries in the region. Small and medium-sized enterprises make up about 55% of Dubai’s economy, so if you want to invest in small and medium-sized enterprises, it means simply investing in Dubai, Chun said.
Chinese companies and institutions are ready to cooperate with their counterparts in the UAE, Chun said, referring to the recent visit by the Chinese president to China, in which he stressed China’s desire to raise the levels of cooperation between the two countries to new heights rather than bilateral trade.
Chun pointed out that the UAE and the People’s Republic of China have relations based on solid foundations of cooperation and coordination in many political, economic and diplomatic fields, and the relations that started with the establishment of the UAE have remained constant in accordance with the established foundations of the State, which is keen on foreign policy And to follow positive and fruitful plans in their regional and international relations to contribute to building a bright and constructive future for achieving security, peace and global stability, and to confirm the positions of the two countries and their view of many intractable international and regional issues, Terrorism issues, along with regional files.
The visit of Chinese President Xi Jinping to the UAE last July was a natural extension of the important visit of HH Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to China in 2015, We know it was successful by all standards.
And has clearly contributed to the strengthening of the political, economic and human relations with the People’s Republic of China so that these relations are witnessing steady growth and great concern for cooperation and coordination at all levels, thanks to the visit of His Highness Sheikh Mohammed bin Zayed Al Nahyan, thanks to this visit to the Chinese President, China, and the UAE is fully convinced that the cooperation between China and the UAE contributes to the progress and stability of the world. We have the determination and determination that these relations be a source of good and good for the two countries and the whole world.