The meeting further addressed Dubai’s infrastructure upgrades, reinforcing its role as an investment hub and trade link
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, stated during a gathering with Sir Mark Tucker, group chairman of HSBC Holdings, as well as local dignitaries, businessmen, and investors at his weekly Majlis that both the UAE and Dubai are guided by a unique vision and a well-defined roadmap for progress, concentrating on social, economic, and investment priorities. The nation has astutely anticipated future trends, closely monitoring global shifts and remaining poised to capitalize on positive opportunities.
Expanding global influence
His Highness also highlighted the UAE’s expanding influence on the world stage and its standing as a global catalyst for positive change. Under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, all initiatives are focused on enhancing the welfare of people and promoting the wellbeing of humanity at large.
Distinguished attendees at the Majlis
Sheikh Mohammed bin Rashid made these remarks during his weekly Majlis at Za’abeel Palace, where he was joined by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of the Executive Council of Dubai; His Highness Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai; His Highness Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority and Chairman of Emirates Airline and Group; Her Highness Sheikha Latifa bint Mohammed bin Rashid Al Maktoum, Chairperson of the Dubai Culture and Arts Authority; His Excellency Lieutenant General Dhahi Khalfan Tamim, Deputy Chairman of Police and Public Security; and Sir Mark Tucker, group chairman of HSBC Holdings.
The gathering also included local dignitaries, high-ranking government officials, female leaders, investors, business professionals, and members of the Federal National Council.
Model partnership
His Highness Sheikh Mohammed stated that the UAE has established solid foundations for a remarkable developmental journey, driven by a partnership between the public and private sectors. He emphasized the UAE’s dedication to creating a business-friendly environment for both local entrepreneurs and international investors. He reiterated the nation’s ongoing commitment to ensuring optimal conditions for businesses to thrive, while continuously integrating best practices that promote comprehensive development for the benefit of humanity.
Innovation and infrastructure in Dubai
Sheikh Mohammed highlighted Dubai as an emblem of creativity and innovation, showcasing prosperity and sustainable development, with its success built on a strong work ethic and a committed workforce. He noted the continuous efforts to enhance infrastructure, solidifying Dubai’s role as a key investment hub, a crucial player in global trade, and a premier tourism destination.
Strategies for development
His Highness discussed with attendees strategies to advance development across various sectors, aligning with the goals of the Dubai Economic Agenda D33, the Dubai Social Agenda 33, and the Dubai 2040 Urban Master Plan, while staying attuned to swift global changes.
Additionally, Sheikh Mohammed bin Rashid met with Sir Mark Tucker, Group Chairman of HSBC Holdings, one of the world’s largest banking and financial services firms, during the Majlis.
Commitment to financial partnerships
In their meeting, His Highness reaffirmed Dubai’s commitment to forging strong partnerships with leading global financial institutions, as part of its vision to usher in a new era of growth and innovation in the region. He further noted that Dubai provides world-class infrastructure and flexible legislation that address industry needs in a rapidly evolving global landscape, allowing firms like HSBC to explore new avenues and expand their operations in the region and beyond. By promoting collaboration between the public and private sectors, Dubai continues to unlock new investment opportunities and foster a vibrant, sustainable financial ecosystem that drives success and value creation.
Business environment and community role
His Highness also pointed out that the UAE has cultivated a business environment defined by openness, flexibility, and transparency, supported by regulatory frameworks that are continuously evaluated and refined. He described Dubai as a forward-thinking global economic partner and a dynamic hub for future creative sectors. Furthermore, he acknowledged the essential role of the business community in reaching developmental goals and reaffirmed the commitment to providing optimal conditions and resources to support the growth of their partners’ enterprises.
The discussions also covered HSBC’s regional operations, expansion plans, and the emerging opportunities for financial firms as Dubai cements its status as a global economic hub. HSBC, which has been present in the UAE for over 76 years, is the largest foreign bank in the country, reporting a net profit of $1 billion in the UAE in 2023. The bank employs 590 Emiratis, reflecting its deep integration within the UAE’s financial sector and serves over 40 million customers across 62 countries and territories worldwide.
Lecture on space ambitions
During the Majlis, His Highness attended a lecture by Emirati astronaut Mohammed Al Mulla, titled “From the Desert to Space.” The lecture emphasized the UAE’s space missions, which were inspired by the late Sheikh Zayed bin Sultan Al Nahyan. It was noted that Sheikh Zayed had shared his ambitions for the UAE’s space endeavors at a reception for a NASA delegation in 1974. Al Mulla remarked that with the UAE’s arrival on Mars, the nation had fulfilled a promise made half a century earlier to join the ranks of elite space explorers, highlighting that the space program exemplifies what determination can achieve for nations.
A gift of legacy
His Highness was also presented with the book ‘Seventy Years with Sheikh Zayed and Sheikh Rashid: A Biography’ as a gift from Sheikh Hilal bin Dhiyab bin Hilal Al Nahyan and his brothers, Sheikh Sultan and Sheikh Khalifa.
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