H1 2024: Dubai Chamber Sees 5% YoY Growth with 34,000 New Firms

Post by: Kanchan Chandel

Photo: Government of Dubai Media Office

Dubai Chamber of Commerce Achieves Milestones in H1 2024

Dubai Chamber of Commerce has unveiled significant achievements for the first half of 2024, showcasing its pivotal role in supporting Dubai's economic growth and the Dubai Economic Agenda (D33). As part of the Dubai Chambers network, the Dubai Chamber of Commerce has demonstrated remarkable progress and dynamism in the business sector.

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New Membership Growth:
A total of 34,075 new companies joined the Dubai Chamber of Commerce in the first half of 2024, marking a 5% year-over-year (YoY) growth. This increase reflects the robust and competitive business environment in Dubai, highlighting its attractiveness for foreign direct investment.

Trade and Export Growth:
Members' exports and re-exports reached an impressive AED 145.9 billion during the period, representing a 6.7% YoY increase. The chamber issued 372,720 certificates of origin, marking a 5.2% YoY growth, and handled 2,433 ATA Carnets with a total value of approximately AED 1.6 billion.

Leadership Insights:
His Excellency Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, praised the chamber’s achievements, emphasizing Dubai’s evolving status as a global business hub. He highlighted that the chamber’s performance aligns with the Dubai Economic Agenda (D33), which aims to boost foreign trade and private sector competitiveness.

Legislative and Advocacy Efforts:
In H1 2024, the Dubai Chamber of Commerce reviewed 122 laws and draft laws in collaboration with Business Groups, achieving a 54.9% adoption rate for recommendations. The chamber also facilitated 29 meetings between business groups and government entities and established six new Business Councils representing investors from Costa Rica, Greece, Poland, Mexico, Colombia, and Kazakhstan.

Legal and Mediation Services:
The chamber hosted 20 legal events attended by 1,500 participants and handled 79 mediation cases, reflecting a 5.3% YoY increase.

Support for Family Businesses:
The Dubai Centre for Family Businesses continued to bolster the sustainability and growth of family businesses. The centre organized two awareness events on governance and the role of women, and trained the first cohort in the Next-Gen Family Businesses Training Programme. It also concluded the first cycle of the Dubai Family Business Management Programme, issued two informative toolkits, and launched an online library with around 2,000 educational resources.

The Dubai Chamber of Commerce's proactive initiatives and strategic advancements underscore its commitment to enhancing Dubai's business landscape and achieving the goals of the Dubai Economic Agenda (D33).

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