UAE's Al Nasser Holdings Seeks Robust Partnerships with Hong Kong Firms for a Sustainable Future

In an ambitious move to enhance business ties, Al Nasser Holdings, a leading conglomerate from the United Arab Emirates (UAE), plans to forge stronger partnerships with companies based in Hong Kong across sectors such as financial services, sustainability, and aviation. Mohamed Naser Al Zaabi, the new chief executive of Al Nasser and a key figure in the UAE’s investment and trade landscape, emphasized that the goal is to leverage the UAE as a launchpad for Hong Kong businesses to scale operations not just locally, but throughout the wider Middle East region.

In a recent interview during his first visit to Hong Kong since the onset of the Covid-19 pandemic, Al Zaabi expressed the company’s commitment to supporting Hong Kong businesses in their ventures into the UAE market. “Our strategy is to enable these companies to relaunch their operations from the UAE, providing crucial regulatory guidance, market insights, and shared services like co-working spaces and local representation,” he explained.

The visit involved discussions with various sectors, including financial institutions and firms specializing in recyclable packaging materials. Al Zaabi stated, “The next step is to put our plans into action. We are exploring joint ventures, with the end goal of assisting these companies in introducing their products and services to the UAE market.”

A notable focus for collaboration lies in advanced air purification technologies, a pressing concern in the UAE due to its challenging climate conditions characterized by high humidity and heat. Al Zaabi mentioned that “consumers in the UAE prioritize solutions that mitigate these environmental challenges.”

Furthermore, he highlighted that areas such as fintech, health technology, smart-city innovations, and supply chain management present vast opportunities for synergy between Hong Kong and UAE firms. The demand for expertise in renewable energy sources, particularly solar and wind, continues to rise, making this a crucial partnership avenue.

Hong Kong is emerging as a magnet for Middle Eastern businesses, thanks to its strong commercial infrastructure, sound legal framework, and status as a financial hub—serving as a gateway to the lucrative markets of mainland China and Southeast Asia.

According to the Hong Kong Trade Development Council (HKTDC), the UAE has solidified its position as Hong Kong's 11th-largest trading partner and sixth-largest export market in 2023. This reciprocal relationship is reinforced by the HKTDC's establishment of its first office in Dubai in 2021, highlighting the growing economic linkages between the two regions.

With both Dubai and Hong Kong recognizing the mutual benefits of collaboration, the stage is set for an exciting era of partnership that could reshape the business landscape in the coming years. Stay tuned as more developments unfold in this promising alliance!