Dubai, Hungary to expand trade and investments across all sectors

Dubai Chamber of Commerce (DCC), one of the three chambers operating under the umbrella of Dubai Chambers, has announced the establishment of the Hungarian Business Council.

The initiative aims to enhance cooperation and foster stronger ties between the business communities in Dubai and Hungary to expand trade and investments across all sectors.

The launch of the council reflects Dubai’s growing appeal among the Hungarian business community.

The number of companies from Hungary registered as active members of Dubai Chamber of Commerce reached 201 at the end of 2024, achieving annual growth of 48 per cent.

The inaugural meeting of the Hungarian Business Council was hosted today at Dubai Chambers’ headquarters. Discussions focused on ways to enhance collaboration, organise bilateral business events, and explore emerging opportunities, as well as exchanging expertise and valuable market insights.

Maha Al Gergawi, Vice President of Business Advocacy at Dubai Chambers, stated, “Business councils play a fundamental role in strengthening the connections between companies and investors, fostering collaboration, and expanding joint business initiatives. We remain committed to enhancing the role of Business Councils in developing trade and investment relations with countries worldwide, contributing to the growth of Dubai’s economy across all sectors.”

Meanwhile a recent analysis conducted by Dubai Chamber of Commerce (DCC), one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that 29,000 new companies operating in the trading and services sector joined the chamber during 2024. This significant growth reflects the sector’s pivotal role in Dubai’s economic diversification.

The construction sector also witnessed substantial growth in memberships, with 7,434 new companies joining the chamber in 2024, representing an increase of 33 per cent compared to 2023.

A total of 23,204 new companies operating in the real estate, renting, and business services sector joined the chamber last year, reflecting annual growth of 8.4 per cent, while 5,901 new companies in the transport, storage, and communication sector joined the chamber.

The financial intermediation sector also expanded, with 1,830 new companies joining the chamber, representing growth of 8.3 per cent.

A total of 70,500 new companies joined Dubai Chamber of Commerce during 2024, reinforcing Dubai’s position as a global investment hub that offers exceptional competitive advantages for businesses worldwide.

Dubai Chamber of Commerce recorded 33 per cent growth in number of construction companies registering as new members during 2024.

23,204 new companies in real estate, renting, and business services sector, representing annual growth of 8.4 per cent.

Dubai Chamber of Commerce was 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.

Earlier last week the Dubai Chambers Board of Directors (BoD), chaired by Sultan Bin Saeed Al Mansoori, held a brainstorming session with the participation of Board Members from the three chambers operating under the umbrella of Dubai Chambers – Dubai Chamber of Commerce, Dubai Chamber of Digital Economy, and Dubai International Chamber.

The Board Members discussed Dubai Chambers’ strategic direction and future initiatives aimed at reinforcing its role as Dubai’s engine of economic growth and development.

The interactive session was attended by Sultan Ahmad Bin Sulayem, Chairman of Dubai International Chamber, together with Board Members from all three chambers and Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers.

The discussions centered on key strategies, future directions, and upcoming initiatives to strengthen Dubai Chambers’ role in advancing economic growth and fostering prosperity across all business sectors, while strengthening collaboration with the private sector and key partners both locally and internationally. The session underlined Dubai Chambers’ commitment to further cementing Dubai’s status as a premier global investment destination and reinforcing its development model built on proactivity, adaptability, and strategic partnerships. The session also featured a review of fresh ideas and impactful proposals to enhance Dubai Chambers’ contribution to cementing Dubai’s position as a global economic hub. Discussions also focused on developing new support businesses and investors, in line with Dubai’s vision and evolving economic landscape.