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Dubai FDI, Standard Chartered Bank ink MoU to attract investments

Dubai FDI, Standard Chartered Bank ink MoU to attract investments
Officials from Dubai FDI & Standard Chartered Bank

Dubai – Mubasher: Dubai FDI has concluded a memorandum of understanding (MoU) with Standard Chartered Bank to facilitate consultation, cooperation, and exchange of information in common interests and objectives.  The agreement was inked between the CEO of Dubai FDI, Fahad Al Gergawi, and the CEO of Standard Chartered UAE branch, Rola Abu Manneh, at Dubai FDI’s office.

The MoU showcases Dubai FDI’s efforts in strengthening the emirate’s position as a preferred global FDI destination. In this regard, the MoU will offer support and collaboration through global initiatives and projects to bring know-how and technology transfer and investments to Dubai, according to a press release on Tuesday.

On this occasion, Al Gergawi said, “MoU with Standard Chartered Bank provides a comprehensive framework to intensify joint efforts towards raising investment performance and integrating efforts in the field of business.” 

“The private sector's participation in the sustainable economic development of Dubai plays a significant role in making the emirate the preferred FDI destination for global and emerging companies to grow and expand. Against this backdrop, the MoU is executed as a sign of good faith and belief in the benefit of bringing both parties together to work closely and create a synergy on both sides,” he concluded.

Meanwhile, CEO of Standard Chartered UAE remarked, “We are eager to begin working with FDI to support the development of their mandate. As a leading international bank, we are well-equipped to accelerate their targets for the growth of the UAE’s economy. Dubai presents a fertile landscape for investment and we are committed to facilitating the influx of ventures that is on the rise.”