One of the three chambers under Dubai Chambers, the Dubai Chamber of Commerce, reported on Monday that 15,366 new member companies joined in the first quarter of 2023. Comparing this period to last year, there has been a record increase of 48.7%.
The chairman of Dubai Chambers, Abdul Aziz Al Ghurair, stated: “At Dubai Chambers, our top priority is achieving the strategic priorities we have established as part of our strategy for 2022–2024. Shaping the future involves coordinated efforts and a shared vision to attain the objectives required for the coming stages.
During the first quarter of 2023, members reported exports and reexport totaling Dh71.7 billion, an increase of around 17.3% over the Dh61.1 billion reported in the first quarter of 2022. This expansion results from the chamber’s ongoing efforts, which include a network of worldwide offices, a jam-packed events schedule, and economic studies on business possibilities to help its members and their commercial activity in markets worldwide.
In the first three months of 2023, the chamber issued 182,266 Certificates of Origin, representing an increase of almost 2% yearly. Furthermore, in Q1 2023, 1,527 ATA Carnets worth Dh1.1 billion were issued and received.
The president and chief executive of Dubai Chambers, Mohammad Ali Rashed Lootah, declared: “Dubai Chambers remains committed to supporting the private sector and enhancing its competitiveness to achieve our wise leadership’s vision and strengthen partnerships between the public and private sectors.”
The Dubai Chamber of Commerce also accomplished its objective of forming more than 100 business groups to represent diverse industries and economic activities in the emirate during the first quarter of the year. The organizations want to increase the private sector’s input into creating laws and policies that affect the regional business climate. There are 105 business organizations, highlighting the significant private sector contribution to sustainable growth, the emirate’s economy’s flexibility, and the high level of private sector involvement.
To safeguard the business community’s interests, the chamber assessed more than 32 laws and draught legislation during the first three months of the year. Additionally, the chamber received 18 instances for mediation.
Al Ghurair emphasized Dubai Chambers’ steadfast dedication to achieving its strategic goals, which include enhancing the business climate in the emirate, boosting the effectiveness of advocacy, assisting members in growing their businesses internationally, luring foreign investment and business to Dubai, expanding the digital economy, and maintaining institutional and customer excellence. He also emphasized the significance of boosting Dubai’s economy’s competitiveness in keeping with the objectives of the emirate’s astute leadership.
Following the strategic aims of the chamber, Lootah also disclosed that various new projects would be launched this year to add value to the emirate’s business community.
The Dubai Chamber of Commerce also introduced the Business Sectors Platform. The new platform provides an innovative package of high-quality services to address the demands of Business Groups and Business Councils and help them function efficiently and accomplish their goals.
The Dubai Chamber of Commerce supports commercial endeavors in Dubai. The chamber is essential in representing, promoting, and safeguarding the interests of businesses in Dubai while also looking for innovative methods to fulfill the changing demands of the emirate’s vibrant and quickly expanding business community.