Dubai Chamber welcomes 50 SMEs to Dubai in H1 2023

Dubai International Chamber, one of the three chambers operating under Dubai Chambers, attracted 56 businesses to the emirate in H1 2023, including six multinational corporations and 50 small and medium-sized enterprises (SMEs).

The chamber also supported the expansion of 15 local and national companies into global markets in the first six months of 2023, either by increasing their exports or helping them to establish a presence abroad.

The trade organisation intensified its efforts to support locally-based companies in their plans for global expansion with the launch of the ‘New Horizons’ initiative.

The initiative is aimed at identifying and capitalising on partnership opportunities.

“We remain committed to achieving our strategic priorities of attracting foreign direct investment to Dubai and supporting our members’ trade and expansion into international markets,” said Sultan Ahmed bin Sulayem, chairman of Dubai International Chamber.

“Dubai International Chamber is working to consolidate the emirate’s position as a leading global hub for business and investments in accordance with the vision of the wise leadership.”

The New Horizons initiative arranges specialised trade missions that enable Dubai-based companies to visit targeted global markets.

Participants in these roadshows can explore investment opportunities and prospects for joint economic partnerships through a series of pre-arranged events and business meetings.

The chamber arranged more than 550 bilateral business meetings in the first six months of the year, connecting companies and investors from Dubai with their counterparts in Central Asia, London, and South Africa.

Dubai International Chamber is focused on boosting Dubai’s status as a major global trading hub.

The chamber supports Dubai’s vision of expanding into new global markets, forging economic partnerships, and supporting local companies in achieving global success, while also attracting international talent and investors from around the world.

It is targeting 30 international markets of strategic importance to the emirate through its growing network of international representative offices.

Dubai Chamber expands global reach

Dubai Chamber inaugurated six new international representative offices in Hong Kong, Australia, the UK, Indonesia, South Africa, and Singapore in the six months to June 30.

The openings brought the total number of international offices at the end of H1 2023 to 21, located across Africa, Latin America, Eurasia, India, China, Europe, Southeast Asia and the Middle East.

The new offices are part of the drive to achieve the goals of the Dubai Global initiative, which seeks to establish a powerful network of 50 representative offices for the emirate across five continents by 2030.

Meanwhile, the Dubai Chamber of Commerce registered a significant growth in the number of member companies and an increase in the value of the exports and re-exports of its members in H1 2023.

The latest data from the chamber indicates that the number of new member companies increased by 43 per cent between January and June this year to reach a total of 30,146. Similarly, the value of exports and re-exports rose by 7 per cent to reach Dhs137.6bn.

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