Core Viewpoint - Establishing strong relationships with local government and partners in the Middle East is crucial for success, requiring patience, focus, and sincerity [1][3] Group 1: Market Dynamics - The Middle East is undergoing significant transformation, with governments promoting renewable energy and rapidly building digital infrastructure based on cryptocurrencies and blockchain [2][7] - There is a growing trend of Hong Kong fintech companies entering the Middle Eastern market, driven by government policies aimed at expanding business opportunities [2][3] Group 2: Relationship Building - Personal relationships and face-to-face communication are vital for business expansion in the Middle East, as local entities value trust and frequent interactions [9][10] - Companies like OneInfinity emphasize the importance of building a diverse team that understands local culture and business practices to foster trust and facilitate market entry [11][10] Group 3: Cultural Considerations - Understanding local culture, customs, and religious influences is essential for fintech companies, as certain financial products may not be suitable for promotion in the region [12][13] - Companies must adapt their product designs to align with local traditions, such as avoiding gambling-related products and focusing on digital security solutions [13][12] Group 4: Regulatory Environment - The regulatory landscape in the Middle East, particularly in the UAE, is complex, with specific licenses required for onshore business operations [14][14] - Companies must navigate different regulatory bodies to obtain necessary licenses for conducting business, depending on their operational focus and location within the UAE [14][14] Group 5: Strategic Positioning - The UAE aims to enhance its economic strength through high-value services, particularly in finance, positioning itself as a global hub connecting Eastern and Western economies [15][15]

Group 1: Core Insights - EVIDENT Group, a Hong Kong fintech company, is expanding its operations in the UAE by partnering with Zand Bank to integrate product data [1][3] - The UAE is undergoing significant transformation, focusing on building digital infrastructure based on cryptocurrencies and blockchain systems [1][2] - The importance of establishing strong relationships with local government and partners is emphasized for fintech companies entering the Middle East market [2][7] Group 2: Company Activities - EVIDENT provides a digital platform for alternative investment opportunities, including private equity, infrastructure investments, and private credit [3] - CertiK HK, another company involved in the UAE visit, offers security compliance services for virtual assets and has established a friendly regulatory framework in the region [4][5] - OneInfinity has successfully captured 40% of the market share in the UAE by providing digital asset security products [8] Group 3: Cultural and Regulatory Considerations - Understanding local culture and regulations is crucial for fintech companies, as certain financial products may not be suitable for the UAE market [10][11] - The complexity of local laws requires foreign companies to obtain various licenses from different regulatory bodies to conduct onshore business [11] - The UAE's strategy aims to enhance its economic strength through high-value services, positioning itself as a global hub connecting East and West [12]