Dubai Chamber of Commerce reports 30,000 new joinees in H1 2023

Image: Dubai Chamber of Commerce

Dubai Chamber of Commerce reported a significant growth in the number of member companies and an increase in the value of the exports and re-exports of its members for the first half of 2023.

The commerce chamber said the results reflect the competitiveness of Dubai and its business community, together with the chamber’s continuing commitment to achieving its strategic priorities, supporting the emirate’s economic aspirations, and realising the objectives of the Dubai Economic Agenda (D33).

Dubai Chamber of Commerce H1 data

Dubai Chamber of Commerce said its data indicates the number of new member companies increased by 43 per cent between January and June this year to reach a total of 30,146, up from 21,098 companies in the first half of 2022.

This significant growth underlines Dubai’s attractiveness among both companies and investors, as well as the emirate’s growing reputation as a leading global business destination.

The total value of exports and re-exports of member companies also increased by 7 per cent during the first half of 2023 to reach Dhs137.6bn, up from Dhs129.4bn in the same period last year. In addition, the chamber issued 357,000 certificates of origin during H1 2023.

A total of 2,402 ATA Carnets were issued and received for goods and commodities with a value of Dhs2.5bn during the six-month period, compared to 2,326 ATA Carnets with a value of Dhs1.2bn during H1 2023. This represents a growth in the value of goods and commodities of more than 108 per cent, while the number of ATA Carnets issued and received increased by 3.3 per cent.

Abdul Aziz Abdulla Al Ghurair, chairman of Dubai Chambers, said, “Our impressive results from the first half of this year confirm the success of our unique business model, which is based on three specialised chambers operating under the umbrella of Dubai Chambers. As Dubai’s engine of economic growth, our strategic priorities are aligned with the goals of the Dubai Economic Agenda, which seeks to further enhance the emirate’s position as a leading global centre for business, trade, and investment.”

He added, “The significant increase in our new members reflects the chamber’s commitment to attracting investments, while the growth in the value of our members’ exports and re-exports underlines the impact of our support for Dubai-based companies seeking to expand into international markets in line with Dubai’s drive to boost the value of non-oil foreign trade to Dhs2tn by 2026.”

Dubai Chamber of Commerce reviewed a total of 54 draft laws in cooperation with business groups during the first half of the year as part of its efforts to support the interests of the business community, while the number of mediation cases received reached 75.

The chamber reached a new milestone when it succeeded in establishing more than 100 business groups representing diverse economic sectors in the emirate, with the goal of enhancing the private sector’s role in shaping policies and legislation related to Dubai’s business environment. These bodies also serve to enhance the competitiveness of the sectors covered, which are now supported by a total of 105 dedicated business groups.

As part of its efforts to achieve its strategic priority of improving the business environment in the emirate, Dubai Chamber of Commerce also launched the ‘Business Sectors Platform’, which offers an innovative package of services designed to empower Business Groups and Business Councils and enhance the effectiveness and efficiency of their activities. The new service logged a total of 78 users during its initial phase of operation.

On the sustainability front, Dubai Chambers co-hosted ‘Road to COP28: Driving Collective Climate Action in the UAE’ in May, an awareness-raising event targeted towards the private sector that aimed to drive engagement and enable participants to gain a deeper understanding of the COP28 agenda. Organised in cooperation with the UN Climate Change High Level Champions, the highly successful event attracted around 700 attendees.

Additionally, it awarded ten companies with the CSR label, eight companies received the Advanced CSR label, and 47 companies were presented with SMART CSR Labels.

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