One of the three chambers that operate under Dubai Chambers, Dubai International Chamber, has attracted a record number of small and medium-sized businesses (SMEs) and multinational corporations (MNCs) to the emirate, growing from 56 in the first half of 2023 to 86 in the first half of 2024. This represents a year-over-year (YoY) growth of 54%.
24 MNCs, up from eight in H1 2023, were among the companies that attracted attention in the first half of this year, indicating a 200% YoY growth.
Compared to the 48 SMEs drawn to Dubai in the same period last year, H1 2024 attracted 62 SMEs, a 29% increase.
Through its international offices, numerous programs, and initiatives, Dubai International Chamber also assisted 34 local businesses in entering new international markets in H1 2024. The chamber helped these businesses expand their international reach and export to new markets.
Compared to H1 2023, when 15 businesses received assistance with international expansion, the number of companies receiving this support increased by 127%.
Sultan Ahmed bin Sulayem, Chairman of Dubai International Chamber, commented, “The remarkable performance achieved during the first half of the year comes as a result of Dubai International Chamber’s ongoing efforts to contribute to achieving the objectives of the Dubai Economic Agenda (D33), which seeks to double the size of the emirate’s economy over the next decade and consolidate Dubai’s position among the top three global cities.”
Under the ‘New Horizons’ initiative, which allows companies based in Dubai to participate in trade missions to specific international markets, the chamber arranged two trade missions to Southeast Asia and West Africa, involving 38 companies from Dubai. These trade missions took place during H1.
To investigate investment opportunities and cooperative economic partnerships, more than 830 B2B meetings were scheduled.
On the first leg of the Southeast Asia trade mission, 200 business-to-business meetings between companies based in Dubai and their Indonesian counterparts were scheduled. 180 meetings between Vietnamese and Dubai-based businesses were arranged by the chamber for the mission’s second leg.
Senegal and Morocco were visited as part of the trade mission to Africa, and over 150 business-to-business meetings were arranged between Dubai-based companies and their Senegalese counterparts in Dakar.
To further enhance collaboration, the Dakar Chamber of Commerce, Industry, and Agriculture and the Dubai International Chamber inked a Memorandum of Understanding (MoU).
More than 300 business-to-business (B2B) meetings were arranged in Casablanca, Morocco, as part of the visit by the Dubai delegation and Moroccan companies to discuss business development.
To strengthen its collaboration with the General Confederation of Moroccan Enterprises, the Casablanca-Settat Chamber of Commerce, Industry and Services, the Rabat-Salé-Kenitra Chamber of Commerce, Industry and Services, and the Moroccan Agency for Investment and Export Development, Dubai Chambers also inked four Memorandums of Understanding.
