Dubai Chamber registers over 51,000 new companies during Q1-Q3 2024, 4% YoY growth
- 2 hours ago
Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has announced details of its key achievements during the first nine months of 2024. The chamber’s notable milestones reflect its success in enhancing the emirate’s favourable business environment, driving economic growth, and contributing to the goals of the Dubai Economic Agenda (D33).
A total of 51,561 new companies joined as members of the chamber during the first nine months of 2024, representing year-over-year (YoY) growth of 4% compared to the same period last year. The figures reflect Dubai’s increasing appeal among regional and global investors.
The value of members’ exports and re-exports during Q1-Q3 2024 reached Dhs 224 billion, representing YoY growth of 7%. A total of 578, 268 certificates of origin were issued during the nine-month period, also reflecting YoY growth of 7%. In addition, 3,259 ATA Carnets were issued and received for goods with a combined value of more than Dhs 2 billion.
Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, commented, “Guided by the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai is continuing to cement its position as a leading global hub for trade and investments, while enhancing the competitiveness of its business-friendly environment to attract foreign direct investment.”
He added, “We are committed to doubling our efforts to support Dubai’s sustainable economic development journey in collaboration with partners from the public and private sectors. The chamber remains dedicated to promoting business growth, safeguarding the interests of the business community, attracting foreign direct investment, and creating more opportunities for companies operating in the emirate to expand and achieve sustainable grow both locally and internationally.”
Dubai Chamber of Commerce reviewed 154 laws and draft laws in cooperation with Business Groups during Q1-Q3 2024, with the resulting recommendations achieving an adoption rate of 46%. A total of 146 meetings were held with Business Groups and Business Councils during this period including Annual General meetings. The chamber also facilitated 69 meetings between Business Groups and Councils and key government entities and established seven new Business Councils representing the interests of investors from Costa Rica, Greece, Poland, Mexico, Colombia, Kazakhstan, and Georgia.
In addition, the chamber received 131 mediation cases during Q1-Q3 2024, representing YoY growth of 27% compared to the 103 cases received in the same period last year.
As part of its efforts to raise awareness among companies regarding updates on business-related laws and regulations, Dubai Chamber of Commerce organised 27 legal events during the first nine months of this year. The events, which were attended by 2,111 representatives from private sector companies across diverse industries, sought to ensure compliance with regulations governing the business landscape and promote the adoption of best practices.
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