The Japan Bank for International Cooperation (JBIC) has signed a strategic partnership agreement with the government of Dubai.


This MOU agreement aims to provide comprehensive co-operation for the Dubai Strategic Plan 2015, unveiled last February by the Dubai government, through JBIC financial resources.


The plan is a medium-term growth strategy relating to the economy, society, law, the environment and public services. More specifically, the MOU sets forth an exchange of views and information regarding infrastructure development, which is necessary for both improving the business environment as well as promoting Japanese business.


A number of Japanese subsidiaries and affiliates operate in Dubai, which is considered the business hub of the Middle East. The projects included in the growth strategy focus on developing infrastructure such as power, transport and telecommunications, all crucial for improving Japanese business in Dubai.


This MOU is expected to help strengthen economic relations between Japan and Dubai.