Invest Hong Kong announced on Tuesday that it has signed a memorandum of understanding (MOU) online with the Abu Dhabi Chamber of Commerce and Industry of the United Arab Emirates (UAE), pledging cooperation on investment promotion exchanges and support.

The MOU aims at fostering a closer relationship for the mutual benefit of China's Hong Kong Special Administrative Region and the UAE in terms of investment promotion exchanges and their cooperation with each other in promoting both inward and outward investments in Abu Dhabi and Hong Kong.

Alpha Lau, Invest Hong Kong's director-general of investment promotion, said that the MOU marked a new milestone between Hong Kong and Abu Dhabi in terms of investment promotion exchanges. Hong Kong offers an efficient, reliable business platform, bringing the Chinese mainland and the rest of the world together.

Meanwhile, Abu Dhabi is a leading economy in the Gulf region and an important source of foreign direct investment in the world. By leveraging Hong Kong's status as the world's "super-connector," companies from Abu Dhabi and the UAE and those from Asia can strengthen collaboration, tapping into the growing business opportunities across our two regions, Lau added.

The MOU encourages the promotion of investment between the two sides and sharing experiences in attracting foreign investment, as well as best practices regarding investment promotion. It also encourages interested local companies to set up or expand their businesses within the area of the other jurisdiction and provides support to facilitate inward investment between both Abu Dhabi and Hong Kong.