The Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that 34,075 new companies joined as members during the first half of 2024, an annual growth of 5 percent.
The Dubai Chamber of Commerce recently revealed some of its most notable achievements during H1 of 2024, reflecting its positive impact on advancing Dubai’s economic development and achieving the ambitions of the Dubai Economic Agenda (D33).
Exports and re-exports grow
The chamber’s members saw a significant 6.7 percent annual increase in the value of exports and re-exports to AED145.9 billion during H1. In addition, the Dubai Chamber of Commerce issued a total of 372,720 certificates of origin during the six-month period, a 5.2 percent annual increase. It also issued and received 2,433 ATA Carnets with an overall value of almost AED1.6 billion.
“The chamber’s activity during the first half of the year reflects the emirate’s growing position as a global capital for business, trade and investment,” stated Abdul Aziz Abdulla Al Ghurair, chairman of Dubai Chambers.
Al Ghurair attributes this growth to the chamber’s various initiatives that aim to enhance Dubai’s favorable business environment, strengthen partnerships between the public and private sectors, attract foreign direct investments, and support the international expansion of Dubai-based companies.
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Chamber’s key initiatives
During the first half of 2024, the Dubai Chamber of Commerce reviewed 122 laws and draft laws in cooperation with Business Groups. The resulting recommendations achieved an adoption rate of 54.9 percent.
In addition, it established six new Business Councils representing the interests of investors and stakeholders from Costa Rica, Greece, Poland, Mexico, Colombia and Kazakhstan.
Dubai Chambers’ Dubai Center for Family Businesses also continued its efforts to support the sustainability, competitiveness, and continuity of family businesses.
In addition to the various training sessions it held, the center issued two informative toolkits. The Sample Article of Association for Family Businesses’ was issued to outline effective management and governance procedures, as well as corporate best practices. Meanwhile, it issued the ‘Corporate Governance – Guidelines for Family Businesses’ to explore effective governance structures, key governance frameworks, and regulatory guidelines for family businesses.
The center also launched an online library during H1 of 2024, which has around 2,000 diverse educational resources, including videos, webinars, articles, podcasts, and research reports designed specifically for family businesses.
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