Dubai International Chamber, one of the three chambers functioning under the umbrella of Dubai Chambers, continued to successfully attract foreign direct investment (FDI) to the emirate and aid the expansion of local businesses into new international markets throughout 2024. The chamber’s initiatives contributed significantly to Dubai’s sustainable economic growth and further enhanced foreign trade with essential markets around the world.
Chamber attracts 207 companies to Dubai in 2024
Dubai International Chamber successfully attracted 207 companies to Dubai in 2024, which included both multinational companies (MNCs) and small and medium-sized enterprises (SMEs). This represents a growth of 56 percent compared to the 133 companies attracted during the previous year.
Multinational companies and SMEs drawn to Dubai
The companies attracted by the chamber in 2024 included 51 MNCs, marking an increase of 55 percent compared to the 33 attracted in 2023. The chamber also supported the influx of 156 SMEs during the same period, a 56 percent rise compared to the 100 attracted in 2023. Furthermore, Dubai International Chamber effectively facilitated the expansion of 114 local companies into new global markets, which is an increase of 48 percent compared to the 77 companies supported in 2023.
Enhancing Dubai’s global appeal
Sultan Ahmed bin Sulayem, chairman of Dubai International Chamber, remarked: “The results achieved during 2024 reflect the impact of the chamber’s efforts to enhance Dubai’s appeal among global investors and support the growth of the local business community on the international stage.”
Bin Sulayem elaborated: “The chamber’s international offices play a vital role in showcasing the opportunities Dubai offers for international investors and supporting multinational companies in leveraging the emirate’s competitive advantages, as well as enhancing the capabilities of Dubai-based companies to expand their operations into key international markets.”
Expansion of international offices
Last year, Dubai International Chamber inaugurated two new offices in Kazakhstan and Colombia, elevating its total number of international representative offices to 33. This expansion fortifies efforts to attract foreign investment and aids businesses in Dubai in exploring new economic and trade opportunities in promising global markets.
Enhancing international cooperation
In line with its commitment to enhancing international cooperation, the chamber hosted 182 visiting delegations last year, with a total of 500 participants, and also participated in 127 global events across 78 cities in 50 countries.
International trade missions
As part of the ‘New Horizons’ initiative, Dubai International Chamber organized trade missions to Indonesia, Vietnam, Senegal, Morocco, Serbia, Türkiye, Uganda, and Tanzania during 2024. During these missions, a total of 2,205 bilateral business meetings were arranged between participating companies from Dubai and their counterparts in these markets, marking an 88 percent increase in the number of meetings compared to 2023.
International business forums
To boost its efforts in attracting foreign direct investment (FDI) to Dubai, the chamber launched international editions of the Dubai Business Forum last year. These included the Dubai Business Forum – China in Beijing and the Dubai Business Forum – U.K. in London, which collectively attracted 1,150 participants.
Additionally, the chamber organized the UAE-China Business Forum in Dubai with the participation of H.E. Li Qiang, Premier of the State Council of the People’s Republic of China; the Dubai–Chile Business Forum, held in the presence of His Excellency Gabriel Boric Font, president of the Republic of Chile; and the Vietnam–UAE Business Forum, attended by H.E. Phạm Minh Chính, prime minister of the Socialist Republic of Vietnam.
