Dubai Chambers attracts more than 67000 new companies

Dubai Chambers on Thursday said 67,222 new companies joined as members in 2023, representing year-over-year growth of 20 per cent. This is the highest number of new members added during any year in the chamber’s history.

Dubai Chambers has three entities operating under its umbrella – Dubai Chamber of Commerce, Dubai International Chamber and Dubai Chamber of Digital Economy.

The number of active members of the Dubai Chamber of Commerce also grew by 26.8 per cent in 2023 as compared to 2022, to reach a total of 217,788, while the value of members’ exports and re-exports increased to over Dh284 billion, with annual growth of 4.3 per cent.

Dubai International Chamber successfully attracted 138 overseas businesses to the emirate. These included 34 multinational companies (MNCs) – an increase of 580 per cent compared to 2022 – and 104 small and medium-sized enterprises (SMEs), representing YoY growth of 550 per cent.

The chamber also supported the international expansion of 77 local companies, achieving a record annual growth rate of 756 per cent, and increased its network of international representative offices to 31 with the launch of 16 new offices around the world in 2023.

“The record growth in the number of new member companies is a testament to our success in enhancing the competitiveness of the business community. Supporting the private sector remains a key priority for Dubai Chambers as part of our drive to achieve the wise leadership’s vision to advance sustainable development and achieve the objectives of the Dubai Economic Agenda (D33),” said Abdul Aziz Abdulla Al Ghurair, chairman of Dubai Chambers.

Meanwhile, the Dubai Chamber of Digital Economy continued to strengthen the emirate’s digital leadership by attracting nine MNCs operating in the digital industries to Dubai, together with 549 high-tech startups to achieve an annual growth rate of 916 per cent.

Dubai Chamber of Commerce issued 735,155 certificates of origin in 2023, while the number of member exporters achieved growth of 9.1 per cent to rise to 13,688. In addition, 5,492 ATA Carnets were issued and received for commodities with a combined value of Dh5 billion, representing a remarkable YoY growth in value of 47 per cent.

The chamber announced the establishment of 76 new sector-specific business groups in 2023, bringing the total number to 105. A combined total of 145 meetings were also held with Business Groups and Councils.

Dubai International Chamber launched a total of 16 new international representative offices in 2023 to expand its global network to 31 offices across five continents. The new openings place the chamber firmly on track to achieve the target of establishing 50 offices by 2030.

The chamber led a total of 116 foreign trade missions to promote Dubai and attract investments, representing a YoY increase of 190 per cent. The missions visited 68 cities in 44 countries, an increase of 113 per cent in the number of cities visited compared to 2022. Dubai International Chamber also hosted 237 visiting delegations with a total of 600 participants.