Mohammed bin Rashid confirms board and advisory council of Dubai International Chamber

• It is part of a recent government restructuring to drive a comprehensive economic development in Dubai

• It also aims to establish Dubai as a global trade hub and a favorite regional destination for global firms

The ruler of Dubai, and Vice President and Prime Minister of the UAE, Sheikh Mohammed bin Rashid Al Maktoum has approved the board of directors and advisory council of the newly-formed Dubai International Chamber as part of a recent government restructuring that aims to drive a comprehensive economic development in Dubai.

The Dubai International Chamber aims to establish Dubai’s status as a global trade hub and a favorite regional destination for global firms; establish and strengthen partnerships with international companies, investors, CEOs and entrepreneurs in key strategic markets in Dubai; and support the expansion of national companies overseas.

The chamber’s key responsibilities, according to WAM, also include developing incentive programs for international companies in collaboration with the relevant entities and reviewing the suggestions of investors and entrepreneurships through the board members; supporting multinational companies based in Dubai and facilitating international trade services; proposing solutions for policymakers in global companies to support Dubai’s economy; and developing legislations on international investment, tax and workforce in the private sector to ease business and trade in Dubai.

Through plans and projects, it seeks to cover 30 high-priority international markets, expand Dubai’s access to new markets and boost Dubai’s status as a favorite regional destination for global corporations. It aims to support national companies to expand operations overseas, while attracting global talents and companies to key business sectors in Dubai.

It  will develop plans to boost partnerships with global corporations, facilitate their operations and support promising ideas and projects, as part of the efforts to establish Dubai as a global trade hub and a favorite destination for talents.

The chamber will also promote the opportunities that Dubai offers in facilitating the flow of international trade including its strategic logistics hub, advanced ports and airports and agile, pro-growth business environment.

Sheikh Mohammed bin Rashid Al Maktoum said, “Dubai International Chamber represents a new model that aims to support our international partners who are part of Dubai’s economic development.”

He added, “The new chamber members will work towards achieving our plan to boost Dubai’s foreign trade to AED2 trillion within the next five years.”