DIFC, Everbright ink MoU

dubai — Dubai International Financial Centre, DIFC, the leading international financial hub in the Middle East, Africa and South Asia (Measa), region, has signed a Memorandum of Understanding (MoU) with China Everbright Group (CEG).

The Chinese state-owned enterprise that operates across banking, securities, insurance, funds, asset management, futures, and investment management, is exploring collaboration opportunities relating to China’s Belt and Road initiative. In addition, the agreement will support the Group’s business development across the Measa region.

The MoU was signed by Arif Amiri, chief executive officer of DIFC Authority and Ge Haijiao, deputy general manager of CEG, following a meeting between Essa Kazim, governor of DIFC and Li Xiaopeng, chairman of CEG. The partnership will enable CEG to benefit from the Centre’s strategic location and world-class platform to manage its investments and access growth opportunities in the Measa region.

Commenting on the partnership, Essa Kazim said: “Dubai and China’s continued collaboration is driving economic growth and social impact in the region. Through our collaboration with China Everbright Group, we believe that DIFC is perfectly positioned to facilitate significant opportunities as part of the Belt and Road initiative. We are proud of the record growth that Chinese institutions have achieved through the Centre, and are looking forward to supporting the Group as it expands its global footprint.”

Li Xiaopeng said: “The synergies between China and the UAE continue to go from strength to strength. Dubai, in particular, has proven to be the ideal location from which we can access the potential of the fast-growing emerging markets in the Measa region.”