Over 34,000 firms attracted to Dubai Chamber of Commerce in first half of the year
In a significant development, the Dubai Chamber of Commerce has recently released a report detailing a substantial increase in new memberships during the first half of 2024. This surge in new memberships, totaling 34,075 companies, represents a noteworthy 5% year-over-year growth. This impressive growth underscores Dubai’s flourishing business landscape and its strong appeal in attracting foreign direct investment.
During this six-month period, member exports and re-exports saw a remarkable spike, reaching AED 145.9 billion, reflecting a substantial 6.7% increase compared to the previous year. Additionally, the issuance of certificates of origin experienced a boost, totaling 372,720, marking a significant increase of around 5.2% year-on-year. Furthermore, Dubai Chamber facilitated 2,433 ATA Carnets valued at approximately AED 1.6 billion, highlighting the chamber’s instrumental role in supporting trade activities.
Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, emphasized that the escalating number of new members and the uptick in trade activity are direct results of strategic initiatives aimed at enhancing Dubai’s business ecosystem, cultivating public-private partnerships, and bolstering international growth for Dubai-based companies.
In a collaborative effort with Business Groups and Business Councils, the Dubai Chamber of Commerce reviewed a total of 122 laws and draft laws during the first half of 2024, with recommendations from these reviews achieving an impressive adoption rate of 54.9%. Additionally, the chamber conducted 100 meetings with Business Groups and Councils and facilitated 29 sessions between these entities and relevant government bodies.
Furthermore, the chamber took a proactive step in establishing six new Business Councils representing the interests of investors and stakeholders from Costa Rica, Greece, Poland, Mexico, Colombia, and Kazakhstan. This move underscores Dubai Chamber’s commitment to promoting business interests from diverse regions and fostering a more inclusive business environment in the region.
As part of its ongoing efforts to support sustainable growth and success within Dubai’s business landscape, the chamber hosted two quarterly roundtable meetings for Business Groups and Business Councils. These meetings serve as a platform for stakeholders to exchange insights, address challenges, and explore opportunities for collaboration.
The recent report from the Dubai Chamber of Commerce reflects the emirate’s growing position as a global capital for business, trade, and investment. The surge in new memberships, increased trade activity, and proactive initiatives undertaken by the chamber underscore Dubai’s resilience and attractiveness as a business hub in the region.
As Dubai continues to position itself as a key player in the global business arena, it is evident that the Dubai Chamber of Commerce plays a pivotal role in driving economic growth, fostering innovation, and supporting the diverse needs of businesses operating in the region. With a strong focus on collaboration, strategic planning, and fostering positive business relationships, Dubai Chamber remains a key driver of success for companies looking to thrive in Dubai’s dynamic business environment.
