Dubai Chamber registers 8,830 new companies in H1 2015

The Dubai Chamber of Commerce and Industry has registered a substantial growth in its membership base, which the non-profit business facilitator credits to Dubai’s rising profile as a sound business destination and its attractiveness to global investors.

Between January and June, a total of 8,830 new companies joined Dubai Chamber which can be attributed to a record number of 335 international delegation visits to the Chamber. This brought the total number of members to over 177,000. These numbers, according to a recent report on the Chamber’s half-year activities, strengthened the organisation’s position as one of the largest chambers of commerce in the Middle East and North Africa (Mena) region.

Also, as part of its global expansion strategy in emerging markets of the world, Dubai Chamber opened its fourth international representative office in the city of Accra in Ghana and is preparing to open another two in Mozambique and Brazil soon, with the aim of opening new market opportunities for its members.

Hamad Buamim, President and CEO, Dubai Chamber, said that when these international delegations come to Dubai, the Chamber highlights the advantages of doing business in Dubai and the attractive investment climate it offers. This is a crucial reason for the 8,800 new members in H1 2015.

"This rising trend in the Emirate’s international profile as a leading centre of trade and finance and the global investors’ confidence in Dubai’s lucrative economic sectors, which are led by trade, logistics, tourism and finance, are behind the foreign companies’ desire to set up base in Dubai and expand their global business activities through the Emirate," said Buamim.

President and CEO of Dubai Chamber further added that the Emirate’s various economic sectors’ excellent performance reflects on the wise vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, who has launched a number of initiatives including UAE Year of Innovation, Dubai World Capital of Islamic Economy and Smart Government, which clearly show the Emirate’s commitment to create a conducive global business environment.

According to Buamim, the Chamber members’ half-yearly exports and re-exports reached Dh151 billion, which reflect the robustness of the Emirate’s business activities and the Chamber members’ eagerness to expand and explore new markets as the membership has reached 177,000 with the members coming from 189 countries. The rise in the new membership is expected to reach 15,000 by the end of the year, he added.

Dubai Chamber’s half year data shows that its members’ exports and re-exports between January and June 2015 were worth Dh151 billion compared to Dh149 billion during the same period in 2014.

Meanwhile, the monthly total of March 2015 was the highest with Dh28.1 billion with January registering the lowest with a value of Dh 22.6 billion.
 

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