Dubai Chamber of Commerce reaffirms its commitment to empowering business community

Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has hosted its fourth 2023 quarterly round-table meeting for Business Groups and Business Councils. Held at Dubai Chambers’ headquarters, the meeting provided updates on the chamber’s efforts and initiatives to support and protect the interests of the local business community.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented:

“Business Groups and Business Councils are integral components of Dubai’s dynamic business community. They are a key component in addressing policy matters and enhancing the competitiveness of their respective sectors. It is therefore important for us to continuously engage with them to further improve Dubai’s favourable business environment. These discussions are central to achieving our strategic goals and strengthening our role as a bridge for two-way dialogue between government entities and the private sector.”

He added:

“The chamber’s continuous engagement with Business Groups and Business Councils reflects our commitment to meeting the evolving needs of Dubai’s dynamic business ecosystem and achieving the wise leadership’s vision of consolidating the emirate’s position as a global capital for business, trade, and investment.”

Lootah called on Business Councils to play an effective role in attracting trade delegations, supporting the international expansion of Dubai-based companies, and boosting Dubai’s intra-regional trade with global markets. His Excellency further emphasised the important contribution of Business Councils in developing the emirate’s business environment and enhancing its competitiveness.

The event also featured a discussion on policy advocacy surrounding the recent Cabinet Decision No. 100 of 2023 on determining qualifying income for the qualifying free zone person; and Ministerial Decision No. 265 of 2023 regarding qualifying activities and excluded activities under the Corporate Tax Law.

Business Groups and Business Councils play a vital role in Dubai’s economic landscape by ensuring the representation of all the business and economic sectors in Dubai. They are also fundamental in facilitating productive dialogue between key stakeholders and government entities, enhancing Dubai’s favourable business environment, and boosting their contribution to the emirate’s economy.

News Source: Emirates News Agency