Dubai-based Emirati companies have invested a total of $1.4 billion in China from 2015 to 2023, stated Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, during his participation at the Dubai Business Forum – China.
Lootah highlighted the increasing interest of Dubai-based Emirati companies in expanding their presence in China as trade exchange and the growing potential for mutual investments between the two countries expands.
“Both nations are working closely to boost cooperation across various sectors, particularly in the new economy, technology, entrepreneurship, tourism, small and medium enterprises (SMEs), energy, renewable energy, agriculture, aviation, logistics, infrastructure, and industry,” he added.
The number of active Chinese companies within the Dubai Chamber of Commerce reached around 5,400 at the end of H1 2024. Of these companies, 742 joined this year, marking a significant 12 percent growth. This underscores the increasing appeal of Dubai as a strategic hub for Chinese businesses looking to expand internationally.
“While Chinese companies have traditionally focused on sectors like trade, logistics, and business consulting in Dubai, there is now a noticeable increase in their interest in emerging sectors such as AI, green technologies, data centers, Web 3, and the infrastructure,” Lootah added.
Dubai Business Forum – China
Lootah added that the Dubai Business Forum – China is the first international edition of this forum, which highlights Dubai’s role in offering attractive investment opportunities to Chinese companies and fostering stronger economic ties between the two sides.
The event attracted 800 prominent Chinese business leaders and investors. In addition, it featured high-level participation from key government entities and private companies from the emirate.
The forum, held under the theme “China, Dubai and Beyond: Igniting Global Trade and Investment,” showcased the emirate’s thriving economy and competitive advantages. In addition, it shed light on key initiatives and projects in Dubai that provide quality investment opportunities for the Chinese and global business communities.
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Expanding trade relations, bilateral ties
On the sidelines of the forum, Dubai Chambers signed a memorandum of understanding (MoU) with the China Council for the Promotion of International Trade Beijing Sub-council (CCPIT Beijing). The agreement aims to expand trade relations, enhance bilateral ties to achieve the two sides’ mutual goals, and support CCPIT Beijing’s member companies in expanding their investments in Dubai.
The agreement also aims to promote cooperation in areas such as organizing business events such as exhibitions and conferences and arranging visits by trade and investment delegations between the two markets.
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