Over 34,000 firms attracted to Dubai Chamber of Commerce in half a year
Dubai Chamber of Commerce Sees Record Growth in Memberships and Trade Activity
The Dubai Chamber of Commerce has announced that the first half of 2024 saw a substantial increase in new memberships, with a total of 34,075 companies joining. This milestone represents a remarkable 5 per cent year-over-year growth, highlighting Dubai’s position as a thriving business hub that continues to attract foreign direct investment.
In addition to the surge in new memberships, member exports and re-exports reached AED 145.9 billion, a significant 6.7 per cent increase compared to the previous year. This growth underscores Dubai’s strong competitiveness in the global market and its ability to facilitate trade and commerce effectively.
The issuance of certificates of origin also saw a notable uptick, reaching 372,720 during the first half of 2024, reflecting a 5.2 per cent increase year-on-year. Furthermore, Dubai Chamber facilitated 2,433 ATA Carnets valued at approximately AED 1.6 billion, further enhancing trade facilitation within the emirate.
Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, attributed the surge in new memberships and trade activity to strategic initiatives aimed at enhancing Dubai’s business ecosystem. By fostering public-private partnerships and supporting international growth for Dubai-based companies, the chamber has created a conducive environment for businesses to thrive.
In partnership with Business Groups and Business Councils, Dubai Chamber of Commerce reviewed 122 laws and draft laws during the first half of 2024, with recommendations achieving an impressive adoption rate of 54.9 per cent. This collaborative effort demonstrates the chamber’s commitment to ensuring a favorable regulatory environment for businesses in Dubai.
Moreover, the chamber held 100 meetings with Business Groups and Councils, facilitating 29 sessions between these groups and relevant government entities. This engagement highlights the chamber’s dedication to promoting dialogue and cooperation between the private sector and government entities to address key business challenges and opportunities.
To further support the interests of investors and stakeholders, Dubai Chamber established six new Business Councils representing countries such as Costa Rica, Greece, Poland, Mexico, Colombia, and Kazakhstan. These councils serve as platforms for dialogue and collaboration, enabling members to exchange insights and explore business opportunities in their respective markets.
Additionally, Dubai Chamber hosted two quarterly roundtable meetings for Business Groups and Business Councils, reinforcing its commitment to fostering sustainable growth and success within Dubai’s business environment. These meetings provide a valuable opportunity for members to discuss emerging trends, challenges, and best practices, contributing to a more robust and dynamic business community in Dubai.
Overall, the record growth in new memberships and trade activity during the first half of 2024 is a testament to Dubai’s standing as a global capital for business, trade, and investment. With a thriving business climate, a strategic approach to regulation, and a commitment to fostering partnerships, Dubai Chamber of Commerce continues to play a vital role in driving economic growth and prosperity in the emirate.
