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Abu Dhabi Chamber expands global network

The new strategic partnerships under the “Gateway to the World” initiative cover a broad geographical scope, spanning across Asia, Europe, Australia, Africa, and Latin America, as well as the Middle East and GCC countries…reports Asian Lite News

The Abu Dhabi Chamber of Commerce and Industry has launched its new strategic initiative “Gateway to the World”, aimed at expanding its global network in a significant move to further create new opportunities for local businesses to expand globally and attract more foreign direct investments.

The goal of the initiative is to sign 100 partnerships with various chambers and business support offices around the globe by the end of 2024, facilitating the ability of Abu Dhabi businesses to access over 3 million international companies that are registered in chambers of commerce and business support offices around the world.

Through the new initiative, the Abu Dhabi Chamber aims to establish direct communication channels with chambers of commerce worldwide and foster a competitive economic environment that aligns with the aspirations of Abu Dhabi’s business community. Additionally, the initiative seeks to attract international companies to establish their operations in Abu Dhabi, aligning with the Chamber’s strategic vision to make Abu Dhabi the first choice in the MENA region for business and talent by 2025.

“This new initiative demonstrates our ongoing commitment to boosting the competitiveness of Abu Dhabi’s business community while pushing towards more economic development. By solidifying relationships between local and global business ecosystems, we aim to further attract more FDIs into Abu Dhabi’s economy and empower businesses to expand their operations globally and explore new markets,” said Ahmed Khalifa Al Qubaisi, CEO of the Abu Dhabi Chamber.

“These strategic partnerships are a crucial component for the prosperity of Abu Dhabi’s business ecosystem, and for propelling the local economy towards greater success and development,” he added, emphasising the need to stimulate investments and facilitate the transfer of technology, services, and expertise between Abu Dhabi and the world, aligning with the Chamber’s mission in providing a competitive business environment that fosters innovation and attracts talents.

The new strategic partnerships under the “Gateway to the World” initiative cover a broad geographical scope, spanning across Asia, Europe, Australia, Africa, and Latin America, as well as the Middle East and GCC countries. Through these partnerships, potential investment opportunities will be registered within the Abu Dhabi Business Connect platform, enabling businesses to connect globally and engage with merchants, entrepreneurs, and investors worldwide. Such an initiative will facilitate access to international investment projects, foster the exchange of knowledge, and promote collaboration within local and global business ecosystems, gearing these efforts towards enhancing Abu Dhabi’s economic landscape and accelerating economic growth.

The “Gateway to the World” initiative will significantly bolster the Abu Dhabi Business Connect platform of the Abu Dhabi Chamber by granting Abu Dhabi-based businesses access to over 3 million member companies of the world chambers of commerce and business support offices, hence, empowering companies in the emirate to expand their reach by engaging with international companies and global markets. The Abu Dhabi Business Connect platform will also provide a platform for startups and SMEs in Abu Dhabi to present their new projects to international investors and entrepreneurs and help them enter into new partnerships while leveraging investment and commercial potential in Abu Dhabi.

Similarly, the “Gateway to the World” initiative will promote Abu Dhabi Chamber’s digital platform on Tawasal SuperApp to facilitate the interaction and engagement between Abu Dhabi Chamber members and international companies registered with chambers of commerce and business support offices from around the world by facilitating virtual business meetings to explore partnership and cooperation opportunities both locally and internationally.

Developed in partnership with Tawasal Information Technology, the Chamber’s digital platform on Tawasal will ensure that the business community remains abreast of the latest events and initiatives that aim to benefit the private sector in Abu Dhabi.

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Dubai

Indian Investors Lead New Business Entries in Dubai

The number of new Syrian-owned companies joining Dubai Chamber of Commerce reached 2,755 in 2023, representing YoY growth of 28.8%. The country ranked fourth among the top investor nationalities for new company registrations…reports Asian Lite News

A recent analysis by Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that Indian investors topped the list of nationalities of new non-UAE businesses joining the chamber last year. A total of 15,481 new Indian-owned companies became members in 2023, representing year-over-year (YoY) growth of 38% and underlining Dubai’s continuing attractiveness among Indian businesses and investors.

Pakistan ranked second in terms of new company memberships in 2023, with the chamber welcoming 8,036 new Pakistani businesses in 2023 – a remarkable growth rate of 71.2% compared to the previous year. Egypt ranked third, with 4,837 new members registering, representing YoY growth of 63.2%.

Prominent destination for investments

His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “During the past year, Dubai has consistently attracted foreign direct investment from many different nations and sectors, underlining the diversity of the emirate’s business environment and its broad economic appeal as a global business destination.”

His Excellency added that the chamber is committed to providing specialised value-added services that support its strategic priorities, facilitate business activity, and enhance the competitiveness of companies in the emirate, stating: “The remarkable increase in the diversity of nationalities represented among the owners of member companies reflects Dubai’s growing prominence within the global business landscape, especially since the announcement of the Dubai Economic Agenda (D33).”

Dynamic growth trajectory

The number of new Syrian-owned companies joining Dubai Chamber of Commerce reached 2,755 in 2023, representing YoY growth of 28.8%. The country ranked fourth among the top investor nationalities for new company registrations.

The United Kingdom ranked fifth with a total of 2,267 new companies, up from 1,503 in 2022 to achieve YoY growth of 50.8%. The number of new Bangladeshi-owned member companies increased by 42.8% to reach 2,252. China ranked seventh on the list with 1,560 new companies joining the chamber in 2023, achieving an annual growth rate of 66.5%.

The number of new Jordanian companies increased by 31.6% to reach 1,469, compared to 1,116 in 2022. Iraqi companies ranked ninth on the list, with 1,247 new companies registered during 2023. This represented YoY growth of 95.5% compared to the 638 companies that joined in 2022. Yemeni companies ranked tenth with 1,214 new companies, achieving an annual growth rate of 57.5% over the 771 companies that joined in 2022.

Increases across diverse sectors

The majority of new companies that registered with Dubai Chamber of Commerce in 2023 operate within the wholesale and retail trade and repair of motor vehicles sector, which accounted for 44.2% of new memberships. This was followed by companies from the real estate, renting, and business activities sector, which represented 32% of the total. The construction sector ranked third with 8.3% of total new companies, while the transport, storage, and communications sector came fourth, accounting for 8.1% of the new companies joining as chamber members.

Established in 1965, Dubai Chamber of Commerce continues to represent, support, and protect the interests of the business community in Dubai, create a stimulating business environment, and promote the emirate as a global business hub. The chamber is one of three chambers operating under the umbrella of Dubai Chambers, which was restructured under a decree issued by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

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Business Dubai Lite Blogs

Dubai Int’l Chamber Expands Global Presence with Tokyo Office Launch

The Tokyo office will serve to enhance and diversify the economic relationship between Dubai and Japan, exploring exciting opportunities in various priority sectors…reports Asian Lite News

Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has enhanced its growing presence in Asia with the official launch of a new international representative office in Japan. Located in Tokyo, the office further strengthens the emirate’s robust economic relationship with Japan and will facilitate the growth of business, trade, and investments between the two markets.

The office was officially inaugurated yesterday evening during a special ceremony in Tokyo with the participation of Mr. Ishii Taku, Parliamentary Vice-Minister of Economy, Trade, and Industry; H.E. Shihab Al Faheem, the Ambassador of the United Arab Emirates to Japan; and Salem Al Shamsi, Vice President of Global Markets at Dubai Chambers, together with distinguished representatives of the Japanese business community.

The Tokyo office is the Chamber’s 27th representative office globally and was launched as part of the ‘Dubai Global’ initiative, which seeks to attract new business, investment, and talent to the emirate while enabling Dubai-based companies to expand into priority international markets. Launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, Dubai Global aims to establish a powerful network of 50 representative offices around the world by 2030.

Commenting on the significance of the launch, H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said: “Establishing a presence in Japan represents a significant step in our global expansion strategy and will further strengthen our shared economic ties. This move not only builds on the progress we have achieved through our international representative offices across the five continents, but it also creates an essential platform to build cross-border partnerships with one of the world’s most sophisticated economies.”

The Tokyo office will serve to enhance and diversify the economic relationship between Dubai and Japan, exploring exciting opportunities in various priority sectors. The Dubai International Chamber team will provide on-ground support to members of the Japanese business community interested in doing business in Dubai, as well as build strong relationships with key public and private sector stakeholders.

The new office will showcase Dubai’s competitive advantages and share investment intelligence to support Japanese companies seeking to enter Dubai and expand internationally through the emirate, connecting businesses in both markets with trusted stakeholders and potential partners.

Japan was ranked as Dubai’s seventh-largest trading partner globally last year, with the value of bilateral non-oil trade between the two markets reaching a total of AED 38.8 billion (US$ 10.5 billion) in 2022. A total of 74 new Japanese companies registered as members of Dubai Chamber of Commerce during the first eight months of 2023. This represents an impressive YoY growth of 222% compared to the same period in 2022, underlining Dubai’s growing connections with the business community in Japan.

Dubai’s strategic location and world-class logistics facilities have established the emirate as a preferred trade hub for Japanese companies with global ambitions. Offering easy access to over 2.2 billion consumers, the emirate serves as a gateway for businesses in Japan and the wider East Asian region looking to expand their international footprints.

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Business Dubai

Dubai Int’l Chamber Expands Its Global Presence

According to Dubai Customs statistics, the value of non-oil bilateral trade between Dubai and the Netherlands reached approximately AED 11.5 billion in 2022…reports Asian Lite News

The Dubai International Chamber, one of the prominent chambers under the Dubai Chambers umbrella, has officially inaugurated its latest international office in Amsterdam, Netherlands. This marks the fourth European office for the chamber and demonstrates the growing commitment to strengthening economic ties between Dubai and key international markets.

The establishment of the Amsterdam office is part of the ‘Dubai Global’ initiative, an ambitious endeavor initiated by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai. ‘Dubai Global’ is designed to attract new businesses, investments, and talent to Dubai while facilitating Dubai-based enterprises in expanding into priority global markets. The initiative aims to establish a robust network of 50 representative offices worldwide by 2030.

The office was officially inaugurated during a special ceremony in Amsterdam, attended by Ali Rashed Alshehhi, Chargé d’Affaires a.i. of the United Arab Emirates to the Kingdom of the Netherlands, and Salem Al Shamsi, Vice President of Global Markets at Dubai Chambers, along with distinguished members of the Dutch business community.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, stated, “The launch of our fourth European office signifies a significant stride toward realizing our strategic objectives. We are making continuous progress in extending our global presence and strengthening Dubai’s standing on the world stage. The Amsterdam office will play a pivotal role in assisting Dubai-based companies in expanding successfully into crucial European markets, attracting foreign direct investments, and advancing bilateral trade in line with the leadership’s economic vision.”

According to Dubai Customs statistics, the value of non-oil bilateral trade between Dubai and the Netherlands reached approximately AED 11.5 billion in 2022. In the first eight months of 2023 alone, 236 Dutch companies became members of the Dubai Chamber of Commerce, bringing the total number of Dutch members to 1,520—an impressive 35% increase compared to the same period in 2022. These figures underline the strong interest in Dubai within the Dutch business community.

The Amsterdam office is expected to play a key role in boosting bilateral trade between Dubai and the Netherlands, particularly in sectors with high potential such as fruits and vegetables, textiles, antiques and artistic products, perfumes and cosmetics, and medical equipment. Additionally, the chamber has identified promising opportunities for mutual investments in areas like agribusiness, chemical products, and the creative industries.

The new office will serve as a showcase for Dubai’s competitive advantages and offer on-the-ground support to Dutch companies seeking entry into Dubai and the broader Middle East markets. The Dubai International Chamber team in Amsterdam will focus on building robust relationships with key public and private sector stakeholders while assisting Dubai-based firms in expanding into the Netherlands by connecting them with potential partners to access the European market and scale their operations.

Dubai’s strategic location and world-class logistics facilities have established the emirate as a preferred trade hub for Dutch companies with global aspirations. Dubai provides easy access to over 2.2 billion consumers, making it an ideal gateway for Dutch businesses and those across Europe looking to expand their international reach.

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Business Dubai UAE News

Newly launched Romanian Business Council enhances economic ties with Dubai

By promoting collaboration, sharing valuable insights, and embracing cutting-edge technologies, our aim is to strengthen businesses and promote sustainable growth…reports Asian Lite News

The establishment of the Romanian Business Council by Dubai Chamber of Commerce, one of the three chambers under Dubai Chambers, marks a significant milestone in enhancing economic ties between Dubai and Romania. This newly launched business council will actively advocate for the interests of Romanian businesses and UAE-registered companies owned by Romanians in Dubai. Additionally, it will play a crucial role in bolstering Dubai’s presence in Europe and attracting fresh investments from the region.

The launch of the Romanian Business Council comes as part of the chamber’s strategy to establish new country-specific business councils and expand their roles to promote cross-border business opportunities and boost bilateral trade.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “We are proud to support the establishment of the Romanian Business Council, which heralds a new era of enhanced cooperation between Dubai and Romania’s dynamic business communities. This collaborative effort supports our ongoing drive to ensure a supportive, enabling, and world-class business environment in Dubai. We look forward working together to boost bilateral trade and promote cross-border business opportunities.”

“We are excited to declare the formation of the Romanian Business Council,” said Genoveva Turcu, the President of the council. The primary objective of our organization is to assist both Romanian and UAE businesses in building a community that thrives on innovation, collaboration, and the exchange of knowledge. By promoting collaboration, sharing valuable insights, and embracing cutting-edge technologies, our aim is to strengthen businesses and promote sustainable growth.”

Covering markets of strategic importance to Dubai, business councils serve as valuable platforms for companies in the UAE and abroad to connect, collaborate, and build mutually beneficial partnerships, opening new channels for economic cooperation with business communities across the globe.  The number of Romanian companies registered with Dubai Chamber of Commerce was 381 by the end of 2022.

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