Over 27,800 new member companies joined Dubai Chamber of Commerce in 2021, a marking 66.8% increase compared to 2020, Which brings the organisation’s total membership to over 287,000.
In 2021, Dubai Chamber of Commerce saw the return on investment of its digital transformation over the years. The Chamber processed more than 704,400 e-transactions during the year, and it succeeded in fully digitising its core services by 100%, which enabled it to serve its members and customers remotely and efficiently. The Chamber also achieved its goal of becoming 100% paperless by the end of 2021, which represents an important milestone in its digital transformation mission.
Boosting business support
The value of exports and re-exports of Dubai Chamber of Commerce members amounted to AED 227 billion and a total of 669,922 certificates of origin were issued by the organisation last year. Meanwhile, 4,495 ATA Carnets worth AED 4.5 billion were issued and received by the Chamber. The ATA Carnet system is managed by Dubai Chamber of Commerce in cooperation with Dubai Customs, facilitating the temporary entry of imports to Dubai.
In line with its role as the voice of the business community, Dubai Chamber reviewed 52 draft local and federal laws and ministerial decisions during the year 2021, with the aim of ensuring a favourable business environment. The organisation’s Legal Services department received 200 mediation cases, of which 175 were virtual mediation cases, while 66 cases were settled amicably.
Exploring new gateways
Dubai Chamber continued exploring business opportunities in promising markets around the world as it received 2,983 visiting delegations and met with over 6,800 delegates from 73 countries in 2021. A total of 85 business networking events were organised, which were attended by 15,000 businesspeople.
The Chamber's 11 representative offices in Africa, Eurasia and Latin America held 2,398 virtual meetings with more than 4,052 investors interested in expanding its business network and activities to Dubai. The Chamber's external offices organised 39 virtual events, attended by 4,280 participants from around the world, and participated in 347 other events as part of their efforts to promote Dubai as a global business hub, identify business opportunities and build relationships with key stakeholders in promising markets.
H.E. Abdul Aziz Al Ghurair, Chairman of Dubai Chambers described 2021 as an exceptional year for the business community in Dubai. He noted that the government's effective measures and pro-active policies put the emirate on a steady path of economic growth, with the biggest uptick in business activity felt within the tourism, hospitality, trade and retail sectors. He added that the announcement of legislative reforms and measures to support the business sector will continue to boost Dubai’s value proposition among foreign investors and companies, and enhance the emirate’s economic competitiveness in the global arena.
For his part, H.E. Hamad Buamim, President & CEO of Dubai Chambers, said the latest performance figures for Dubai Chamber of Commerce reflected Dubai’s strengthening position as a global hub for business, trade and investment. He noted that despite global challenges and Covid-related restrictions, the Chamber succeeded in ensuring a favourable business environment and develop new solutions to meet the changing needs of companies in Dubai.
News Source: Dubai Media Office