Dubal Holding and China North Industries Corporation, NORINCO, signed a comprehensive MoU during the week of the 2nd Belt and Road Forum in Beijing to strengthen cooperation as part of the UAE Vision 2021 and China’s Belt and Road Initiative, BRI.
The MoU sets out plans for the intended collaboration in the industrial, mining, and energy sectors. The senior management of both companies were present at the signing ceremony.
Abdulnasser bin Kalban, CEO of Dubal Holding, praised the commitment of NORINCO to invest in the UAE economy and to co-invest together in BRI countries. “There are natural synergies when UAE and Chinese entities work together. We look forward to building a long-term strategic partnership with NORINCO and this MoU is a great milestone for the journey ahead.”
Luo Kaiquan, Senior Vice President at NORINCO, noted that the company has been actively participating in the construction and development under the BRI. “The signing of this MoU is a clear example of the companies’ strategy to engage in the principles of mutual consultation, joint contribution and shared benefits. Under the framework of the BRI, we will be able to fully leverage the advantages of both companies and further deepen our cooperation.”
During the historic state visit of President Xi Jinping of China to the UAE last year, 13 MoUs were signed amongst ministries in multiple sectors. The MoU between NORINCO and Dubal Holding reflects the initiatives taken by enterprises to enhance strategic collaboration and shows progress made by China and the UAE.