DUBAI: Dubai Chamber of Commerce and Industry announced that 8,830 new companies joined between January and June 2015, bringing the total number of members to over 177,000.
The increase in membership can be attributed to a record number of 335 international delegation visits to the Chamber. These visits strengthened the organisation’s position as one of the largest Chambers of Commerce in the Middle East and North Africa (Mena) region, said a recent report on the Chamber’s half-year activities.
The Dubai Chamber also opened its fourth international representative office in the city of Accra in Ghana. It is preparing to open two more in Mozambique and Brazil soon, with the aim to create new market opportunities for members.
Hamad Buamim, president and chief executive officer, Dubai Chamber, said that when international delegations come to Dubai, the Chamber highlights the advantages of doing business in the emirate and the attractive investment climate it offers. This is a crucial reason for the 8,800 new members in H1, 2015.
“This rising trend in the emirate’s international profile as a leading centre of trade and finance and global investors’ confidence in Dubai’s lucrative economic sectors, which are led by trade, logistics, tourism and finance, are behind foreign companies’ desire to set up base in Dubai and expand global business activities through the emirate,” said Buamim.
The CEO of Dubai Chamber said the excellent performance of the emirate’s economic sectors reflects the vision of His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, who has launched a number of initiatives, including the UAE Year of Innovation, Dubai World Capital of Islamic Economy and Smart Government. These show the emirate’s commitment to create a conducive business environment.
New memberships are expected to reach 15,000 by the end of the year, he added.
According to Buamim, the Chamber members’ exports and re-exports between January and June 2015 was worth Dh151 billion compared to Dh149 billion during the same period in 2014. The monthly total of March 2015 was the highest with Dh28.1 billion; January registered the lowest with a value of Dh22.6 billion.
During the first half of 2015, Dubai Chamber issued 470,000 certificates of origin (COOs), compared to 445,000 COOs issued in the first half of 2014, a 5.4 percent increase.
March saw the highest number of COOs issued at 85,000 and January was the slowest month at 69,000.
Dubai Chamber received 335 international delegations, comprising 1,200 delegates, including government officials and businessmen, showing a 228 per cent growth in the number of visiting delegations and a 109 percent growth in the number of delegates compared to the same period in 2014.
Dubai Chamber participated in 36 events in 24 countries, including the US, UK, France, Italy, Argentina, Belgium, Brazil, Czech Republic, Russia, Rwanda and Uganda and others, with the objective of promoting Dubai as an international business hub and a profitable destination for foreign investment.
