The exports and re-exports of the Dubai Chamber of Commerce grew by 20 percent in 2022, totaling AED272.7 billion ($74 billion), which reflects the flexibility of Dubai merchants and their ability to diversify their exports to new and vital markets with the support of Dubai Chambers and their efforts, whether through external offices or through various studies, events, and initiatives throughout the year.
This was revealed at a media briefing organized by Dubai Chambers at its headquarters, attended by Abdulaziz Abdullah Al Ghurair, Chairman of the Board of Directors of Dubai Chambers; and Omar Sultan Al Olama, the UAE Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, Chairman of the Board of Directors of the Dubai Chamber of Economics; Sultan Ahmed bin Sulayem, CEO of DP World and the chairman of the Port; and Mohammad Ali Rashed Lootah the President and CEO of Dubai Chambers.
The number of new companies that joined the Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of the Dubai Chambers, reached 56,000 companies in 2022, an annual record in terms of new members, bringing the total number of members of the Chamber to 347,600 companies, with an annual growth rate of 20 percent.
With an annual growth rate of 8 percent, the Chamber issued 725,537 certificates of origin in 2022. In addition, the Chamber received during the same year a total of 4,899 temporary entry books for goods and commodities worth AED3.4 billion.
Attracting investments and supporting the external expansion
Additionally, the Dubai International Chamber, one of three chambers operating under the umbrella of Dubai Chambers, succeeded in attracting 5 multinational companies and 16 small and medium-sized enterprises (SMEs) in 2022, while also assisting 9 local and national companies in expanding into foreign markets.
Read more: UAE’s non-oil foreign trade hit $599 billion in 2022
A digital economy that keeps up with future plans
Similarly, the Dubai Chamber of Digital Economy, one of three chambers operating under the umbrella of the Dubai Chambers, was successful in attracting 54 emerging companies with high potential to specialize in technology, as well as 203 businessmen, entrepreneurs, and experts specializing in advanced technology.
A favorable environment for family businesses
During the meeting, Abdulaziz Al Ghurair stated, “Despite the state of uncertainty that prevailed in the global economy in 2022, Dubai is expected to witness strong economic activity during 2023, as the emirate’s economy is set to grow by 4-4.5 percent in 2023, exceeding global and regional growth estimates for this year. These encouraging signs point to the Dubai Economic Agenda’s (D33) goal of doubling the size of Dubai’s economy to AED32 trillion over the next ten years.”
Read more: Mohammed bin Rashid launches Dubai Economic Agenda ‘D33’
A global capital of the digital economy
Omar Sultan Al Olama, for his part, emphasized Dubai’s commitment to assisting entrepreneurs and SMEs through various fields of innovation, technology, and the digital economy, noting that the most important need for this category of the business community is reliable sources of financing. He further added that providing capital and business incubators for new projects is critical to the growth of this sector, and a pivotal factor in implementing Dubai’s digital transformation agenda.
