According to data from the Dubai International Chamber – one of the functional components of Dubai Chambers – the results for the first nine months of 2024 are striking. It was able to lure 157 firms, which include MNCs as well as SMEs, to Dubai while enabling 75 local firms to penetrate international markets.
Record Growth in Investments
The chamber wanted to note that 68.8% more companies were attracted to Dubai in the given period of 2021 compared to the corresponding period of 2023. Out of the 157 new entrants to the Indian market, 39 were MNCs – a growth of 117% year on year, and 118 SMEs – up by 57% from last year.
Global Market Expansion
Source: Internationalisation of 75 Dubai-based Companies The New Horizons programme was launched by the Dubai International Chamber on July 31 of that financial year, and through it, Dubai International Chamber helped Dubai-based companies expand internationally, which was a phenomenal 241% YoY increase. Through these businesses, export enhancement and creation of operations on new markets were promoted, increasing Dubai’s trade share with the rest of the world.
Strategic Trade Missions
As part of it the chamber organized a trade seminar where it attended trade missions to Southeast Asia and West Africa which in total facilitated over 830 bilateral business meetings. Key highlights included:
- Southeast Asia: The awareness raising meetings where held in Indonesia 200 & Vietnam and 180, with focus on investment and partnership.
- West Africa: More than 150 meetings in the cities of Dakar, Senegal has culminated into a MoU with the Chamber of Commerce in Dakar.
- Morocco: More than 300 sort of meetings were conducted followed by the signing of four MoUs with major Moroccan institutions in Casablanca to boost business links and investment opportunities.
Motivations consistent with the D33 plan
Sultan Ahmed bin Sulayem, Chairman of Dubai International Chamber said: “These indicators are evidence of the chamber’s efforts in promoting the competitive features of Dubai and in harmony of the Dubai Economic Agenda (D33). This way we create awareness that Dubai is the gateway to these attractive markets which makes it a place for growth and opportunities.
