Dubai Government Delegation Embarks On Strategic Visit To Shenzhen To Enhance Economic Ties And Innovation

The Executive Office, in partnership with Dubai Chambers, is organising a strategic visit to Shenzhen for leaders from 14 government entities in Dubai. This four-day visit, starting tomorrow, aims to foster collaboration and exchange ideas with officials from both public and private sectors. The delegation will explore institutions focused on technology, innovation, the digital economy, urban planning, transport, sustainability, and energy.

Dubai's commitment to learning from global cities is evident in this initiative. Shenzhen stands as a global model for innovation and advanced technology. Its strategic infrastructure has made it a hub for major companies and a leader in the digital economy and future industries. The visit aligns with His Highness Sheikh Mohammed bin Rashid Al Maktoum's vision to advance Dubai’s position among the world’s leading cities.

Saeed Al Eter, Director-General of the Executive Office of H.H. Sheikh Mohammed bin Rashid Al Maktoum, emphasised the strong ties between the UAE and China. He noted that both nations continuously enhance cooperation to drive economic growth and prosperity. "Guided by the vision of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Dubai is among the world’s fastest-growing cities," he stated.

Shenzhen's economic significance is highlighted by its GDP of US$456 billion in 2023 and over 3.5 million registered companies. Known as the "Silicon Valley of the East," Shenzhen has maintained economic growth of 6-7 percent in recent years. It was one of the first five cities in China to adopt Special Economic Zone policies.

The delegation will conduct 15 field visits during their stay. These include stops at the Shenzhen Stock Exchange to enhance financial cooperation with Dubai-based institutions and Lianhuashan Park to share expertise in urban beautification. They will also collaborate on urban planning and sustainability at the Shenzhen Institute of Urban Planning and Design.

The visit aims to attract multinational corporations, unicorn companies, and fast-growing startups from China to Dubai, creating new trade and investment opportunities. The delegation will engage with key Shenzhen institutions that align with Dubai’s strategic goals, fostering long-term partnerships.

Key Visits and Collaborations

Other notable visits include Tencent to explore digital transformation opportunities; Huawei for discussions on smart government solutions; BYD for insights into Chinese automobile manufacturing; and Shenzhen Capital Group to strengthen SME sector ties. These engagements aim to generate new project ideas for Dubai while strengthening cooperation in artificial intelligence, advanced technology, institutional innovation, sustainability, smart cities, and emerging sectors.

The UAE maintains robust ties with China, with bilateral trade expected to reach US$200 billion by 2030. By August 2024, 5,480 Chinese companies were registered as members of the Dubai Chamber of Commerce. Additionally, Dubai International Chamber operates three offices in China—Shanghai, Shenzhen, and Hong Kong—the highest number in any country.

Enhancing Financial Cooperation

Dubai International Financial Centre serves as a gateway for Chinese financial institutions in the UAE. It facilitates access to markets across the Middle East, Africa, South Asia, as well as Belt and Road Initiative countries. Chinese banks issue bonds on Nasdaq Dubai including green bonds financing renewable energy projects.

The delegation includes representatives from various entities such as Dubai Future Foundation; Roads and Transport Authority; Dubai Municipality; Digital Dubai; World Government Summit Foundation; Department of Finance; TECOM Group among others.

This visit underscores Dubai's dedication towards becoming a global centre for talent business technological advancement through continuous learning knowledge exchange drawing inspiration from globally pioneering cities like Shenzhen.

With inputs from WAM