Dubai Chambers’ membership grows by 20% to 347,600

Gulf Today, Staff Reporter

Dubai Chambers on Tuesday unveiled a series of accomplishments for 2022 during a media briefing at its headquarters, demonstrating its diverse initiatives to support Dubai’s business community and dedication to realising its strategic goals in alignment with the city’s future development plans.

Present at the event were His Excellency Abdul Aziz Al Ghurair, the Chairman of Dubai Chambers,  Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, and Chairman of the Dubai Chamber of Digital Economy, Sultan Ahmed bin Sulayem, the Chairman of Dubai International Chamber, and Mohammad Ali Rashed Lootah, the President and CEO of Dubai Chambers.

Dubai Chamber of Commerce saw a 20% increase in membership to 347,600, with 56,000 new members joining it during the year. In addition, the exports and re-exports of Dubai Chamber of Commerce members grew by 20% in 2022, totalling Dhs272.7 billion, demonstrating the resilience of Dubai’s traders and their capacity to expand their exports into new markets.

Dubai International Chamber opened four new international offices in 2022, growing its international network to 15 offices. During the year, the international offices conducted 2,031 meetings with investors. Another significant accomplishment for the chamber was attracting five multinational corporations and 16 small and medium-sized enterprises (SMEs) to Dubai, as well as assisting nine Dubai-based companies in expanding to new global markets.

Dubai Chamber of Digital Economy conducted international outreach in collaboration with other relevant government entities, which resulted in attracting 203 tech entrepreneurs and experts as well as 54 high-potential start-ups to Dubai.

Dubai Chamber of Digital Economy was the strategic partner of North Star Dubai 2022, an event that drew 100,000 attendees from 170 countries, including 800 startups. The event also hosted 600 investors with a portfolio of over $500 billion and 35 global unicorns which had a combined market value of $216 billion.

At the event, Al Ghurair, Al Olama, bin Sulayem, and Lootah participated in a panel discussion, where they discussed various topics related to Dubai’s economy, including opportunities and challenges.

“Dubai Chambers works to realise Dubai’s economic vision and strategic agenda. Our strategic priorities include improving Dubai’s business environment, advocating for its interests, supporting our members in their global expansion, attracting foreign businesses and investments into Dubai, and promoting the growth of our digital economy,” said Al Ghurair.

“Despite the global economic uncertainty witnessed in 2022, Dubai’s economy is expected to grow by 4-4.5% in 2023, outperforming global and regional growth estimates for the year. These positive economic indicators are aligned with the Dubai Economic Agenda D33, which aims to double the size of Dubai’s economy to Dhs32 trillion over the next 10 years,” he added.

Commenting on the sustainability of family-owned businesses in Dubai, Al Ghurair said that a roadmap for the newly announced Dubai Centre for Family Businesses has been approved to mobilise family-owned companies and ensure they stay relevant and continue to contribute to Dubai’s economic vision.

Omar Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, and Chairman of the Dubai Chamber of Digital Economy, highlighted Dubai’s ongoing support for entrepreneurs and SMEs in various areas of innovation, technology, and the digital economy. He emphasised that providing capital to new projects and business incubation is essential for the growth of the sector and key to Dubai’s digital transformation agenda.

He added: “Dubai Chamber of Digital Economy implemented plans to support Dubai’s goal of becoming a leading global destination for advanced sectors of the future - one that embraces pioneering technologies and encourages innovation in various areas of the digital economy.”

Bin Sulayem highlighted Dubai Global, an initiative led by Dubai International Chamber, which aims to attract foreign direct investment to Dubai by showcasing the emirate’s competitive advantages, sharing investment intelligence and engaging with overseas stakeholders. “This reflects the investors’ confidence in the emirate’s stability, safety, and ease of doing business,” he added.