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Dubai Chamber attracts 5 MNCs, 20 SMEs in Q1 2023

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Dubai International Chamber of Commerce, one of three chambers under the Dubai Chamber umbrella, will attract five Multinational Corporations (MNCs) and 20 Small and Medium Enterprises (SMEs) in the first quarter of 2023 alone. This exceeds the total number of people attracted throughout 2022.

In addition, the Chamber supported the expansion of seven local and national companies into foreign markets by helping them increase their exports or establish operations abroad.

The Chamber has also opened a new representative office in Hong Kong, bringing its total number of international offices to 16 by the end of the first quarter of 2023, with operations in Africa, Latin America, Eurasia, India, China and the Middle East. The opening of these offices is part of the Dubai Global Initiative, launched by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, and led by the Dubai International Chamber of Commerce. . The plan aims to create a strong network of 50 commercial representation offices for Dubai on five continents by 2030.

extremely important role

Sultan Ahmed bin Sulayem, Chairman of the Dubai International Chamber of Commerce, underscored the important role the Chamber plays in cementing Dubai as a global destination for foreign direct investment and a launch pad for entering global markets . He further highlighted the significant contribution of the Chamber’s international offices in promoting Dubai as a place for business, talent, capital and companies of all types and sizes.

“Participation in exhibitions and conferences and the organization of bilateral business meetings abroad are at the heart of the Chamber’s support for the global expansion of Dubai’s private sector,” added bin Sulayem. “Our trade mission to the Central Asian market is a great example of achieving its goal of enabling participants to forge new business relationships that will soon develop into economic partnerships. ICC Dubai remains committed to supporting The UAE aims to increase non-oil foreign trade from AED1.4 trillion ($380 million) to AED2 trillion by 2026.”

Mohammad Ali Rashed Lootah, President and CEO, Dubai Chamber of Commerce, commented: “We have launched several new initiatives in the first quarter of 2023, most notably the International Partner Network, which aims to strengthen the relationship between the Chamber and the Commerce Commissioners and Business Councils. cross-border dialogue. Furthermore, the network will enrich interactions, communications and partnerships to expedite the implementation of the Chamber’s programs and support the interests of the Dubai business community.”

global expansion

The Chamber has stepped up its support for global expansion plans of Dubai companies, launching the New Horizons program to support the expansion plans of its member companies. The initiative aims to form trade missions comprising companies from the emirate to visit targeted global markets, where events and meetings will be held to explore investment opportunities and prospects for joint economic partnerships. The first mission, targeting the Central Asian region, included more than 430 bilateral business meetings between representatives of 24 companies from Dubai and their counterparts in Uzbekistan, Kazakhstan and Kyrgyzstan.

The Dubai International Chamber of Commerce has outlined plans to cover 30 international markets of strategic importance to Dubai through its network of international representative offices. — trade arab news agency

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