Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has shared details of several significant milestones achieved during 2024. By the end of last year, the total number of active members reached 258,318, reflecting annual growth of 18 percent compared to 2023.
A total of 70,500 new companies joined the chamber’s membership by the end of the year, representing growth of 3 percent compared to 2023.
New milestone
The value of exports and re-exports by chamber members exceeded AED300 billion ($81.7 billion) for the first time since the chamber’s establishment, achieving annual growth of 9.2 percent to reach AED309.6 billion.
During the same period, the chamber issued 791,115 certificates of origin, reflecting annual growth of 8 percent. The chamber also issued and received 5,357 ATA Carnets for goods and commodities with a total value of AED4.3 billion.
Read: Indian businesses top the list of newcomers joining Dubai Chamber of Commerce in 9M 2024
Abdul Aziz Abdulla Al Ghurair, chairman of Dubai Chambers, commented: “Dubai is continuing to consolidate its position as a prominent global business hub and an ideal platform for growth and expansion across all sectors. The emirate is consistently enhancing its integrated, business-friendly environment.”
“Building on the strong partnership between the public and private sectors, the chamber is continuing to play a pivotal role in supporting economic growth, advancing the interests of the business community, and creating promising opportunities for Dubai-based companies and investors in local and global markets,” he added.
Reviewing laws
Throughout the year, Dubai Chamber of Commerce collaborated with business groups to review 107 laws and draft laws, with the resulting recommendations achieving an adoption rate of 58 percent. The chamber held 177 meetings with business groups and councils, including annual general meetings, and coordinated 27 meetings between business groups and councils and relevant government entities.
The chamber also established nine new business councils in 2024 representing investors from Greece, Poland, Mexico, Colombia, Kazakhstan, Georgia, Costa Rica, South Korea, and Vietnam.
Dubai Chamber of Commerce handled 171 mediation cases during 2024, an increase of 21.3 percent over the 141 cases received during the previous year. Moreover, 88 percent of mediation cases received last year were successfully settled.
Organizing workshops
Dubai Chamber of Commerce organized 38 legal awareness workshops during 2024, which were attended by 2,698 representatives from private sector companies operating across diverse sectors. These sessions aimed to ensure the compliance of companies with laws and regulations governing all areas of business and enhance their ability to adopt best practices.
The Dubai Centre for Family Businesses, which operates under the umbrella of Dubai Chambers, conducted four training programs last year with 90 participants. The centre also organised five sessions as part of its Governance Series, attracting 226 participants, and issued four informative toolkits covering a range of family business-related topics. In addition, the first cohort of participants graduated from the inaugural cycle of the Dubai Family Business Management Programme.
To enhance corporate sustainability, Dubai Chamber of Commerce launched a new ESG (environmental, social, and governance) label last year aimed at elevating corporate sustainability standards. Developed by the chamber’s Centre for Responsible Business, the label helps companies assess their readiness and maturity in adopting ESG standards and recognizes their achievements, contributing to sustainable growth. A total of 27 companies were awarded the ESG label during 2024.
The chamber’s 2024 Sustainability Week, organized by the Centre for Responsible Business, attracted 526 participants from the business community. The initiative features a series of sessions focusing on the contributions of digitalization and artificial intelligence to the development of sustainable business practices.
