Dubai: The Department of Economic Development (DED) in Dubai has issued the first licence in the Chinese and Arabic languages to an investor from China.
The development comes as the UAE and China strengthen economic ties following the visit of Chinese President Xi Jinping to the UAE earlier this month.
The two countries signed thirteen agreements to boost cooperation across various sectors inlcuding energy, trade, environment, among others during the visit.
“The issuance of the Chinese licence underlines the Government of Dubai’s goal to provide best services to the Chinese seeking to boost their investments in the Emirate and to encourage global investors to engage in economic activity in Dubai,” DED said in a statement on Monday.
The licence issued by DED has details of trade name, activity and other useful data in Chinese language to benefit the investor, according to the statement.
There are strong ties between China and the UAE. About 4,200 Chinese companies are operating in the UAE and the bilateral trade in 2017 exceeded more than $50 billion (Dh183 billion).
Chinese firms are also investing heavily in the UAE. Cosco shipping is building a new terminal at Khalifa Port and is creating additional facilities at Khalifa Industrial Zone Abu Dhabi (Kizad) to boost infrastructure.
