Dubai Chamber of Commerce posts record membership growth in H1

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A view of the building of Dubai Chamber of Commerce & Industry, a hub of local and global businesses.

Dubai Chamber of Commerce — one of the three chambers operating under Dubai Chambers – has achieved a record growth in new membership in the first half of 2022, as more than 21,000 companies joined the Chamber during the period, bringing total memberships to over 308,000.

An 80 per cent year-over-year (y-o-y) surge in new members was recorded between January and June 2022, as the Chamber expanded its role to support the business community in Dubai and attract companies in target markets in line with the new Dubai Chambers structure and 2022-2024 strategy.

A total of 2,326 ATA Carnets were issued and received by the Chamber in H1 2022, recording a 32 per cent y-o-y increase, while the value of ATA Carnets reached Dhs1.18 billion. The number of e-transactions increased 10 per cent over the same period to reach over 378,000.

Hamad Buamim, President and CEO of Dubai Chambers, said the latest performance figures reflect the positive impact of new Chamber-led initiatives and plans to improve ease of doing business, boost Dubai’s foreign trade and support local businesses with global expansion – all of which align with Dubai Chambers’ 2022-2024 strategy.

He noted that the Chamber’s integral role as Expo 2020 Dubai’s Official Business Integration Partner gave a major boost to performance in the first three months of this year, as it organised a record number of events, initiatives and activities and established new bridges of cooperation between businesses communities in Dubai and abroad. He also revealed that Dubai Chambers achieved an Emiratisation rate of 59 per cent as of the end of June 2022.

“Following our record performance in the first half, we expect the positive momentum to continue and project new membership and total membership to reach 40,000 and 330,000 companies, respectively. These are ambitious yet achievable targets considering that Dubai Chambers and the three chambers operating under its structure are rolling out several major initiatives in the coming six months that are designed to support the growth of the business community in Dubai and attract global companies to the emirate,” he added. Abdul Aziz Al Ghurair, Chairman of Dubai Chambers, recently met with heads and members of business groups in Dubai to discuss new ways that this sector can enhance its role and contribution to the emirate’s economy and strengthen public-private sector partnerships.

The virtual meeting, was joined by Hamad Buamim, President and CEO of Dubai Chambers, and 45 participants representing various business groups in Dubai. The meeting provided a platform for business groups to highlight market gaps and share their recommendations for improving ease of doing business in Dubai. Addressing participations, Al Ghurair highlighted the crucial role of business groups in driving private sector growth and revealed that 28 business groups representing 30 economic sectors now operate in Dubai under the umbrella of Dubai Chamber of Commerce.

Al Ghurair shared new details about a major initiative that the Chamber is planning to launch later this year, which is designed to enhance the economic contribution of business groups.

WAM

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