Business Insights

Dubai Chambers Records Historic Membership Growth in 2023

Dubai Chambers announced a remarkable milestone as it welcomed 67,222 new companies as members in 2023, marking a 20% increase compared to the previous year. This surge in membership represents the highest number of new additions in the chamber’s history.

The significant growth in membership was highlighted by Abdul Aziz Abdulla Al Ghurair, the chairman of Dubai Chambers, who emphasized the chamber’s commitment to enhancing the competitiveness of the business community. Al Ghurair stated that supporting the private sector remains a key priority, aligning with the leadership’s vision to advance sustainable development and achieve the objectives outlined in the Dubai Economic Agenda (D33).

The expansion of Dubai Chambers is evident across its three entities – Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy. The Dubai Chamber of Commerce reported a robust growth rate of 26.8%, with a total of 217,788 active members. Moreover, the value of members’ exports and re-exports surged to over Dh284 billion, reflecting a 4.3% annual growth.

In a bid to bolster Dubai’s international presence, the Dubai International Chamber successfully attracted 138 overseas businesses to the emirate. This included a notable increase in multinational companies (MNCs) by 580% compared to the previous year, as well as a significant rise in small and medium-sized enterprises (SMEs) by 550%. Additionally, the chamber facilitated the international expansion of 77 local companies, achieving a record annual growth rate of 756%.

The Dubai Chamber of Digital Economy played a pivotal role in enhancing the emirate’s digital leadership by attracting nine MNCs operating in digital industries to Dubai. Furthermore, the chamber welcomed 549 high-tech startups, marking an impressive annual growth rate of 916%.

Key initiatives undertaken by Dubai Chambers in 2023 include the establishment of 76 new sector-specific business groups, bringing the total number to 105. These groups serve as platforms for collaboration and knowledge-sharing within specific industries, fostering growth and innovation.

To strengthen its global network, the Dubai International Chamber inaugurated 16 new international representative offices in 2023, expanding its reach to 31 offices across five continents. This strategic expansion aligns with the chamber’s goal of establishing 50 offices by 2030.

In efforts to promote Dubai as a global investment destination, Dubai Chambers led a total of 116 foreign trade missions, representing a significant increase of 190% compared to the previous year. These missions visited 68 cities in 44 countries, showcasing Dubai’s business-friendly environment and attracting investments from around the world. Additionally, the chamber hosted 237 visiting delegations with a total of 600 participants, further fostering international cooperation and collaboration.

The impressive growth and achievements of Dubai Chambers in 2023 underscore Dubai’s position as a leading global business hub. With a focus on supporting the private sector, fostering innovation, and expanding international partnerships, Dubai Chambers continues to play a pivotal role in driving economic growth and prosperity in the region.

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