Dubai Global Chamber, one of the vital 3 chambers working beneath Dubai Chambers, has introduced main points of a number of noteceable achievements right through Q1 2024 in attracting international direct funding to Dubai and supporting the efforts of native firms to amplify into international markets, in series with the targets of the Dubai Financial Schedule (D33).
The chamber accomplished a year-over-year (YoY) expansion of 48% within the selection of multinational firms (MNCs) and mini and medium enterprises (SMEs) it interested in the emirate, which greater from 25 within the first quarter of 2023 to 37 right through Q1 2024. This noteceable build up displays Dubai’s rising beauty amongst international buyers and place as a prominent vacation spot for companies working throughout various sectors.
The firms attracted right through the primary 3 months of this yr incorporated 8 MNCs, which greater from 5 in Q1 2023, representing YoY expansion of 60%. A complete of 29 SMEs had been interested in Dubai in Q1 2024, an build up of 45% in comparison to the 20 that had been attracted right through Q1 2023.
Dubai Global Chamber additionally supported the growth of 21 native firms into pristine international markets right through Q1 2024 thru numerous programmes and projects. The chamber assisted those firms with exporting to pristine international locations, settingup their presence in a foreign country, and attractive in joint ventures with native companies of their goal markets. The selection of firms assisted with world growth greater by way of 200% in comparison to Q1 2023’s determine of 7 companies.
His Excellency Sultan Ahmed bin Sulayem, Chairman of Dubai Global Chamber, commented: “We are continuing to step up our efforts to attract international companies and investors to the emirate, while advancing the expansion of local companies into promising global markets. These activities form a key part of our drive to contribute to advancing sustainable development and achieving the objectives of the Dubai Economic Agenda (D33).”
His Excellency added: “The chamber’s growing network of 31 international representative offices plays a central role in promoting Dubai as an ideal city for global talent, high-net-worth individuals, and companies of all sizes across diverse sectors. Our offices are central to our plans to consolidate Dubai’s position as a leading global destination for foreign direct investments and a launchpad for expansion into new markets worldwide.”
Throughout the primary quarter, the chamber hosted two ‘In Focus’ periods for personal sector firms to discover industry and funding alternatives in Senegal, Morocco, Vietnam, and Indonesia. The ‘In Focus’ initiative supplies a platform for Dubai companies to have interaction with people and personal sector leaders from decided on markets to advertise cross-border partnerships and force mutual trade expansion. Members take pleasure in get admission to to first-hand data on doing trade within the centered international locations and areas, along with skilled steering on each level in their world growth. The subjects lined field from well timed marketplace understanding and trade introductions to corporate set-up processes and effectively concluding partnership promises and trade offers.
The chamber’s ‘In Focus’ occasions grant as an creation to the ‘New Horizons’ initiative, which allows Dubai-based firms to secured adapted industry missions and take part in pre-arranged B2B conferences in centered markets to discover funding alternatives and financial partnerships.
Throughout the primary 3 months of this yr, Dubai Global Chamber additionally organized a gathering with Emirati marketers in various sectors to backup their efforts to amplify into international markets. The fertile consultation highlighted the numerous programmes and services and products equipped by way of the chamber to make stronger the competitiveness of native companies in world markets.
In February, the chamber organised a unique trade tournament at the sidelines of the Gulfood exhibition, which attracted the participation of 400 representatives from native and world firms working within the meals and beverage sector. Members realized concerning the untouched information and key developments shaping the UAE’s flourishing meals and beverage trade. The assembly additionally highlighted the promising alternatives to be had in Dubai for firms within the sector on account of its complicated logistics functions and beneficial trade shape
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