emirates7 - Dubai Chambers recently signed a Memorandum of Understanding (MoU) with Citi UAE to enhance cooperation and serve common goals, boost the competitiveness of the business community and facilitate public-private partnerships that drive sustainable economic growth.

The memorandum was signed by Hamad Buamim, President and CEO of Dubai Chambers, and Elissar Farah Antonios, CEO of Citi UAE and Head of Middle East and North Africa, in the presence of representatives from both entities.

Under the terms of the strategic agreement, the parties will collaborate on joint events and initiatives that support common goals, attract companies to the UAE and provide new banking services, products and financial solutions to the private sector.

Buamim described the agreement as "an important development that would raise the standard of banking services and solutions that enable business growth, ultimately creating a more conducive and competitive business environment".

He noted that the partnership supports Dubai Chambers' strategy and ongoing efforts to attract multinational companies to Dubai and ensure a favourable business environment in the emirate, adding that banking is among the top sectors that attract the most foreign direct investment and a key sector that will support the emirate's new economic vision.

Antonios said that this strategic partnership is an opportunity to further promote Dubai as an investment destination and a hub for multinational companies. It falls within Citi's commitment to UAE's transformation into a global economic powerhouse and its support of Dubai's attractiveness and forward-thinking vision.