DUBAI, UAE – Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has achieved significant growth in membership during 2023.
A total of 48,616 new member companies registered between January and September this year, representing an impressive year-over-year (YoY) increase of 42.9 percent compared to the 34,029 that joined during the corresponding period in 2022, a press release said.
The strong growth underlines Dubai’s attractiveness among both companies and investors, as well as the emirate’s growing reputation as a leading global business destination.
This was also reflected in the total value of exports and re-exports of member companies, which reached a total of US$57 billion (AED 210 billion) with 544,538 certificates of origin issued from Q1 – Q3 2023.
In addition, 3,209 ATA Carnets were issued and received for goods and commodities with a combined value of US$898 million (AED 3.3 billion) during the nine-month period, compared to 2,919 ATA Carnets with a value of around US$408 million (AED 1.5 billion) during Q1 – Q3 2022.
The value of ATA Carnets received recorded a remarkable YoY growth of 123.6 percent.
Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, said: “I am delighted to see Dubai Chamber of Commerce making headway in improving Dubai’s favorable business environment, enhancing its advocacy efforts, and supporting our members to thrive while driving the export and re-export market.”
He said, “We are the voice of the business community in Dubai and remain committed to empowering our members to contribute towards achieving the emirate’s growth ambitions.”
He added, “We will continue to work in tandem with the government as we advance on our journey towards the objectives of the Dubai Economic Agenda (D33).”
Dubai Chamber of Commerce reviewed a total of 94 draft laws in cooperation with Business Groups during the first nine months of the year.
The number of mediation cases received by the chamber reached 103.
The chamber’s Business Relations Department arranged over 180 meetings with representatives from Business Groups and Councils between January and September, including 20 advocacy sessions aimed at shaping Dubai’s favorable business environment.
The department also successfully organized 41 Annual General Assembly events for Business Groups and Councils.
More than 2,100 attendees benefited from 24 workshops, events, and webinars organised by the department.
A total of 103 meetings were held with key stakeholders and partners to explore opportunities to serve the business community.
Dubai Chamber also launched the ‘Business Sectors Platform,’ which offers an innovative package of services designed to empower Business Groups and Business Councils and enhance the effectiveness and efficiency of their activities.
The Dubai Center for Family Business, which was established in May with the goal of ensuring the growth and sustainability of family businesses in the emirate, has successfully launched a number of programs and initiatives.
By the end of Q3 2023, the center had completed 30 family visits and rolled out two educational certification programs for family members and advisors.
A total of 18 advisors enrolled in the Family Business Advisory certification program during this period.
The center also concluded two sessions in its Governance Series program with the participation of 62 family business representatives.
In addition, the center recorded over 450 downloads of education toolkits and publications between May and the end of September.
Dubai Chamber of Commerce seeks to facilitate and improve the ease of doing business in the emirate, while delivering value-added services and serving as a bridge between the Emirates’s business community and the government, the release added.
A total of 46 country-specific Business Councils and 105 sector-specific Business Groups presently function under the chamber’s umbrella.