KATHMANDU: In a landmark collaboration, international diamond brand of AZAYA has entered into a commercial partnership with the renowned Dubai-based conglomerate, Al Ali Group.

The partnership, formalized through the signing of a Memorandum of Understanding (MoU) on Tuesday, aims to push AZAYA into the global market while fostering joint ventures in Nepal’s thriving tourism industry.

His Excellency, Yaqoob Al Ali, Executive Chair of Al Ali Group, and Rakesh Kumar Adukia of AZAYA signed the MOU, combining their expertise and investments to expedite AZAYA’s global market presence.

 The collaboration is poised not only to establish AZAYA as a leading diamond brand globally but also to catalyze well-founded investment in Nepal’s tourism sector by the experienced Dubai-based conglomerate.

Rakesh Kumar Adukia of AZAYA Diamond expressed optimism about the partnership, stating, “AZAYA, introduced by a Nepali expert, aspires not only to flourish domestically but to make its mark on the global stage. Partnering with Al Ali Group brings together investment and expertise, paving the way for AZAYA’s rapid global establishment.”

The MOU signifies a shared vision to attract foreign investment in Nepal’s burgeoning hospitality sector, recognized as a highly appealing destination for global investors. Al Ali Group and AZAYA plan to pool resources for joint investments in Nepal’s tourism sector in the days to come.

His Excellency, Yaqoob Al Ali, Executive Chairman of Al Ali Group, emphasized the group’s keen interest in Nepal’s tourism potential. “We see significant potential in Nepal’s tourism sector. Al Ali Group wishes to collaborate in tourism and hospitality in Nepal, leveraging our extensive experience in the field. The MoU has made us very enthusiastic.” He said.

This strategic partnership is anticipated to not only boost AZAYA’s global reach but also contribute to the international promotion of Nepali handicrafts and attract foreign investment to further enhance Nepal’s tourism sector.