DUBAI: The Dubai Economic Council (DEC) has enhanced its partnership with the Bank of China (BOC) in its role in the development of infrastructure, tourism, real estate, trade and logistics projects in the UAE.
“The Bank of China can play a pivotal role in the Dubai government’s vision to expand ties with China and their strategic relationship, not only in trade, but also in large-scale development projects,” stated Hani Al Hamli, Secretary-General at Dubai Economic Council during a meeting with a delegation from the BOC, Dubai Branch, headed by Jiaji Xu, Deputy General Manager.
DEC is also working to actively encourage Chinese direct investment in various industries in the emirate, including energy, infrastructure, tourism, real estate, finance, trade and logistics - particularly in the wake of the Dubai Expo 2020 infrastructure-development projects.
“With strengthened economic and trading relations between UAE and China over recent years, the two countries have seen a broad prospect for cooperation in various industries, notably in infrastructure construction, aviation, real estate, financial services, trade and direct investment,” Xu said.
DEC has also most recently arranged with BOC to finance critical projects under the ‘Global Financial Alliances’ that aims to fuel large-scale infrastructure development schemes underway in Dubai through a pool of financial institutions and services providers
BOC opened for business at Dubai International Financial Centre (DIFC) as its first operational offshore business institution set up in the Middle East in early 2013.
