Over 3,000 firms join Dubai Chamber of Commerce in April 2022 making it the largest in the world

Over 3,000 firms join Dubai Chamber of Commerce in April 2022 making it the largest in the world

Posted on 24 May 2022

Dubai Chambers is in the process of developing and launching several new initiatives designed to improve ease of doing business in Dubai, remove trade barriers, and enable Dubai businesses to tap into growth opportunities, the chairman said

In April 2022, the Dubai Chamber of Commerce – which is one of three chambers operating under Dubai Chambers – welcomed 3,056 new member companies, bringing the chamber’s total membership to 300,000 companies and making it the largest chamber of commerce in the world.

The Dubai Chamber of Commerce revealed that its membership increased by 55.4 percent in April 2022, while member exports and re-exports grew by 16.7 percent compared to the same period last year.

Al Ghurair said: “Dubai’s status as an international hub that connects economic decision-makers, investors, and experts reflects the emirate’s pioneering role in establishing an optimised trade and investment climate that stimulates business growth and development. Dubai Chamber of Commerce constantly seeks to promote Dubai as a global commercial, economic, and digital destination.”

Meanwhile, the value of members’ exports and re-exports in April 2022 reached $5.5 billion (AED 20.2 billion), growing 16.7 percent from the AED 17.3 billion posted in April 2021.

The Chamber issued 57,704 certificates of origin in April this year, up 8.2 percent from last year.

Abdul Aziz Al Ghurair, the chairman of Dubai Chambers, said that the latest figures reflect Dubai Chambers’ efforts to stimulate the business environment and boost its competitiveness.

The new Dubai Chambers structure has enabled the three chambers operating under its umbrella to adopt a more specialised and effective approach to driving Dubai’s sustainable economic growth and development, while elevating the emirate’s position as a global business hub.

“Dubai Chambers is a strategic and effective partner in driving comprehensive economic development in the emirate. We are now in the process of developing and launching several new initiatives designed to improve ease of doing business in Dubai, remove trade barriers and enable businesses in Dubai to tap into a wealth of growth opportunities in promising market, while expanding our efforts to attract multinational companies and high-potential startups from abroad,” Al Ghurair added.

He also highlighted the crucial role played by the Chamber’s international offices in connecting global trade markets and consolidating Dubai’s position as a leader in developing the world trade system.

In April 2022, the Chamber’s international offices held more than 140 meetings with prominent investors in Africa, Latin America, Azerbaijan, India, and China, in addition to virtual meetings with high-level government officials and entrepreneurs from Russia, France, Mexico, Zimbabwe, and Switzerland, he revealed.

A 100 percent paperless smart entity, Dubai Chamber of Commerce processed 61,145 electronic transactions in April 2022, marking a growth rate of 9.5 percent, demonstrating Dubai’s growing appeal as a global digital capital and a leading destination for business and finance.

SOURCE: arabianbusiness.com

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