Dubai Chamber of Commerce, operating under the umbrella of Dubai Chambers, announced that 34,075 new companies joined as members during the first half of 2024 (H1 2024), representing a year-over-year (YoY) growth of 5%.
This growth reflects the dynamism of Dubai's business environment and the emirate's high levels of competitiveness in attracting foreign direct investment.
The value of members' exports and re-exports during H1 2024 amounted to AED 145.9 billion, marking a YoY growth of 6.7%. Additionally, 372,720 certificates of origin were issued during the six-month period, reflecting a YoY growth of approximately 5.2%. The chamber also issued and received 2,433 ATA Carnets, with a combined value of around AED 1.6 billion.
Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, commented,
The vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, guides all of our efforts. The increasing number of new members joining the chamber and the growing exports and re-exports of members are the result of our various initiatives aimed at achieving our strategic priorities of enhancing Dubai's favourable business environment, strengthening partnerships between the public and private sectors, attracting foreign direct investments, and supporting the international expansion of Dubai-based companies.
During H1 2024, Dubai Chamber of Commerce reviewed 122 laws and draft laws in cooperation with Business Groups, achieving an adoption rate of 54.9% for the resulting recommendations. The chamber held a total of 100 meetings with Business Groups and Business Councils and facilitated around 29 meetings between these groups and relevant government entities.
The chamber also established six new Business Councils representing investors and stakeholders from Costa Rica, Greece, Poland, Mexico, Colombia, and Kazakhstan. Additionally, it hosted two quarterly roundtable meetings for Business Groups and Business Councils to discuss the chamber's various programs and initiatives supporting private sector companies' sustainable success.
To raise awareness about the evolving legal landscape, the chamber organized 20 legal events during H1 2024, attended by 1,500 participants. The chamber also received 79 mediation cases, representing a 5.3% YoY growth compared to the 75 cases received in the same period last year.
The Dubai Centre for Family Businesses, under the Dubai Chambers umbrella, continued its efforts to support family businesses' sustainability, competitiveness, and continuity by organizing two awareness events as part of the 'Governance Series.' These sessions focused on governance and the role of women in enhancing family businesses' sustainability.
The centre also conducted training for the first batch of participants in the Next-Gen Family Businesses Training Programme and concluded the first cycle of the Dubai Family Business Management Programme with 31 family business members. Additionally, nine advisors received certificates as part of the centre's Family Business Advisory certificate programme.
Furthermore, the centre issued two informative toolkits, "The Sample Article of Association for Family Businesses" and "Corporate Governance – Guidelines for Family Businesses," and launched an online library with around 2,000 educational resources, including videos, webinars, articles, podcasts, and research reports specifically designed for family businesses.
News Source: Emirates News Agency
