Dubai Chamber of Commerce enhances local business community’s cyber resilience

 Dubai Chamber of Commerce, one of the three chambers operating under the Dubai Chambers umbrella, recently organised a virtual workshop on cybersecurity in collaboration with Mastercard to enhance the Dubai business community’s ability to face cyberthreats.Titled ‘Building Cyber Resilience in a Complex and Interconnected Digital World’, the workshop was attended by 50 participants from various companies operating in Dubai. It featured interactive discussions and constructive dialogues, providing participants with vital information and valuable insights, along with guidelines and real-world data in the digital field.Cyber resilience is a proactive strategy that enhances an organisation’s ability to ensure business continuity amid growing technological threats by pre-emptively setting up security provisions, analysing weaknesses in digital systems, and working to protect against potential digital challenges.The workshop is the second in a series of sessions to be held under a new initiative, launched by the Dubai Chamber of Commerce in July 2023 in collaboration with Mastercard. The initiative includes a year-long programme to help companies evaluate and improve their cybersecurity capabilities.His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said: “The digital world is constantly evolving as we grow increasingly reliant on modern and smart technologies in all areas of life. But the pace of cyberattacks is also growing in parallel, with expanding scopes and fast-changing methods. This exposes institutions and business sectors to imminent risks that must be systematically and continually addressed, which makes it more important than ever to keep pace with cybersecurity developments, exploring best practices, advanced systems, and tools to ensure the protection of digital systems.”“This workshop aligns with our efforts to provide support, knowledge, and guidance to the local business community in all practical and digital domains,” H.E. Lootah added. “The session aims to develop Dubai-based companies’ capabilities and potential, in addition to offering top-quality services with added value, which is integral to our strategy to elevate Dubai’s business environment and boost the private sector’s competitiveness.”Participants in the workshop were introduced to critical aspects of cybersecurity, including identifying sources and reasons for cyberattacks that target companies, as well as assessing the level of risk facing technological programmes. Discussions also covered best practices for ensuring the security of institutions and the latest tools for mitigating cybersecurity risks.

Dubai Chamber of Commerce announces establishment of CRBC

Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, has announced the establishment of a new Business Council to represent the interests of Costa Rica’s business community in the emirate. The formation of the ‘Costa Rican Business Council in Dubai’ is a strategic move designed to enhance trade ties and strengthen connections between the two markets.The chamber welcomed a delegation featuring His Excellency Dr. Arnoldo André Tinoco, Minister of Foreign Affairs and Worship of Costa Rica; His Excellency Francisco Chacón Hernández, Ambassador of the Republic of Costa Rica to the United Arab Emirates; and founding members of the council for a special meeting to discuss the council’s formation. The dialogue focused on strategies for collaboration to unlock the full potential of the new business council, which will deliver a host of benefits for companies in both Costa Rica and Dubai.His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, stated: “The establishment of the Costa Rican Business Council in Dubai represents another significant step in enhancing the trade and investment relationship between the business communities in our respective markets. This collaborative effort comes as part of our ongoing drive to ensure a supportive, enabling, and world-class business environment in Dubai. We look forward to working together to boost bilateral trade and promote cross-border opportunities for business and investments.”The value of non-oil trade has been growing steadily and reached USD 58.7 million in 2022, representing an impressive annual growth rate of 19%. Bilateral trade and investments are set to increase further following the launch of the new Business Council. Earlier this year, Costa Rica also entered into preliminary CEPA negotiations with the UAE, paving the way for building a significant and influential platform that will further cement the economic relations between the two countries.Covering markets of strategic importance to Dubai, Business Councils serve as valuable platforms for companies in the UAE and abroad to connect, collaborate, and build mutually beneficial partnerships. Operating under the umbrella of Dubai Chamber of Commerce, the councils drive advocacy efforts, secure legislative enhancements, and build bridges of cooperation with business communities across the globe.Business Councils are non-profit organisations comprising companies, business owners, and industry experts that represent the interests of companies from specific countries operating in Dubai. The councils work in cooperation with the chamber to promote bilateral trade and investments between businesses in Dubai and the market represented by each council.SHA

Dubai Business Forum attracts 2,000 participants from 49 countries

Dubai Chambers has successfully concluded the inaugural edition of Dubai Business Forum under the theme ‘Shifting Economic Power: Dubai and the Future of Global Trade.’ Hosted under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the transformative global event took place from 1-2 November at Madinat Jumeirah.Over two exciting days of discussions and dealmaking, the forum attracted more than 2,000 global changemakers, business leaders, industry experts, investors, and economists from 49 countries. A total of 24 high-level plenary sessions and talks featuring 32 distinguished speakers were held as part of the event. The sessions delved into the roles of globalisation and digital transformation in connecting economies and shaping the future of global trade, as well as the impact of emerging markets on the shifting economic landscape and the importance of driving FDI in priority sectors.Bringing together key public and private sector stakeholders from across the globe, the forum created a platform for global corporations and fast-growth businesses to forge partnerships, cultivate international networks, and unlock new opportunities. The networking and thought leadership sessions at the forum enabled participants to explore strategic economic partnerships, opening new horizons for business, trade, and investments.Reflecting on the forum’s resounding success, His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers said: “The impact of the Dubai Business Forum speaks volumes about the emirate’s strategic position in an increasingly interconnected world. By hosting such a wide cross-section of speakers from all over the world with expertise in diverse strategic fields, the forum offered unique insights into Dubai’s growing role in shaping international trade and the global economic landscape. In addition to serving as a valuable platform for knowledge sharing, the forum also proved highly rewarding for those seeking networking and partnership opportunities.”His Excellency added: “The Dubai Business Forum has created a seismic shift in the global business landscape. With the presence of international business leaders and significant economic players, the forum has played an instrumental role in advancing the Dubai Economic Agenda (D33) and shaping the emirate’s future as a dynamic hub at the epicentre of the global marketplace. The event reflected the emirate’s continuing success in attracting foreign direct investment and supporting business expansion, further reinforcing Dubai’s position as a leading capital of the global economy.”Anchored on four key pillars, the forum’s thoughtful agenda addressed Globalisation, Foreign Direct Investment, Digital Transformation, and Emerging Markets. Key plenary sessions highlighted Dubai’s strategic position as an international hub connecting economies and the crucial roles of SMEs and trading blocs in accelerating global economic development. The discussions also examined the importance of advanced technologies in transforming business and the future of the workforce, as well as driving global growth.Another key component of the Dubai Business Forum was The Future Theatre, which hosted TED-style talk keynote sessions examining a thoughtful mix of eight thematic pillars. The platform took a deep dive into the future of industries, trade hubs, investments, economies, IoT, robotics, AI, and cities. Hosted in a more intimate setting, the insightful experiential sessions tackled future trends that are poised to catalyse growth across economies, industries, businesses, and societies.More than 550 business meetings were scheduled through the forum’s app, and the event also saw over 20 deals signed as part of The Deals Hub, a dedicated platform for global business leaders and investors to forge and announce major business initiatives, partnerships, investments, and commercial alliances.Notable deals involving Dubai Chambers included the establishment of a new China Innovation Centre and an MoU for the launch of an ‘Innovation Corridor’ with the Hamburg Chamber of Commerce, as well as an agreement with PT Bank Syariah Indonesia – the largest Sharia bank in Indonesia – to enhance the sharing of banking and finance intelligence.Additionally, the Dubai Integrated Economic Zones Authority (DIEZ) announced the launch of a VC fund worth AED 500 million to finance technology startups and contribute to achieving the goals of the Dubai Economic Agenda D33 by promoting the growth of SMEs in various emerging sectors.Previously known as the Global Business Forum (GBF), the Dubai Business Forum supports the D33 agenda’s drive to double the size of Dubai’s economy over the coming decade and consolidate the emirate’s position among the top three global cities worldwide. The forum successfully boosted engagement with key international stakeholders to accelerate the growth of trade and investments. The event is closely aligned with Dubai Chambers’ strategic objectives of attracting international business and investments to the emirate, supporting the global expansion of Dubai-based companies in targeted markets, and further enhancing Dubai’s favourable business environment.

Kazakhstani entrepreneurs secure contracts for food supply & IT services

The United Arab Emirates shows interest in Kazakhstani Agricultural Products, Food Items, and IT Services. As a result of a trade mission organized by QazTrade for domestic entrepreneurs in the emirate of Dubai, export contracts worth over $37 million have been concluded.Kazakhstan and the UAE have been nurturing mutually beneficial cooperation for 30 years. As noted by Vice Minister of Trade and Integration, Kairat Torebayev, during the opening of the business negotiations, our countries have strengthened economic development through mutual investments and continue to work on joint projects."In line with the President of Kazakhstan's goal of increasing trade with the UAE, we are expanding our collaboration with our partners and facilitating business entry into the markets of our countries. In the medium term, Kazakhstani companies are prepared to supply around 90 types of goods to the Gulf country, worth approximately $440 million," said Kairat Torebayev.This includes products from the metallurgical and chemical industries, the food industry, machinery, vehicles, construction materials, and pharmaceuticals.Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “The UAE is proud to be Kazakhstan’s leading trade and economic partner in the Arab region. The number of companies from Kazakhstan in Dubai has been steadily rising, underlining the strong interest in the emirate among the nation’s business community. We believe there is significant room for further growth in bilateral trade and investments, and remain committed to working together to leverage opportunities for mutual cooperation between our markets.”The UAE market holds appeal for Kazakhstan, being part of the list of priority export destinations for goods produced in Kazakhstan. In 2022, Kazakhstani entrepreneurs exported products worth $560.3 million to the UAE. Organic agricultural products of domestic production have substantial potential for entering the Gulf countries' market. Just in the past year, meat exports from Kazakhstan to the Emirates increased by a factor of 8.According to Vice Minister of Trade and Integration, Kairat Torebayev, UAE companies, in turn, can invest in joint ventures, agricultural production development, the implementation of modern technologies, and the creation of new products.In the trade and economic mission in Dubai, 30 Kazakhstani food producers, chemical industry suppliers, IT service providers, and others participated. The total value of the concluded export contracts exceeded $37 million. Agreements were reached for the supply of dietary supplements, vegetable oil, mineral water, confectionery products, microspheres, and IT services.

Dubai Chambers reveals details of ‘Future Theatre’ programme

Dubai Chambers has unveiled details of the ‘Future Theatre’ programme, a key element of the upcoming Dubai Business Forum that creates a curated platform for interaction with globally renowned speakers as they explore the groundbreaking innovations driving today’s economies.Hosted under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the Dubai Business Forum will take place at Madinat Jumeirah from 1-2 November 2023 under the theme ‘Shifting Economic Power: Dubai and the Future of Global Trade.’The Future Theatre programme features headlining keynote sessions examining a thoughtful mix of seven thematic pillars. Participants will take a deep dive into the Future of Industries, Future of Cities, Future of Investments, Future of IoT, Future of Jobs, Future of Cyber Security, and Future of Robotics. The insightful experiential sessions will tackle the future trends set to catalyse growth in economies, industries, businesses, and society.Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “This year's Dubai Business Forum is designed to provide our global community of attendees, partners, and guest speakers with tailored opportunities to connect through meaningful conversations that will drive transformative growth and shape the future of business and trade. With an exciting lineup of sessions focusing on seven diverse topics, our Future Theatre sets the stage for thought-provoking conversations that will provide valuable insights and fresh perspectives on global trade and investments in a world shaped by digital transformation.”The opening session will feature a TED-style talk focusing on the Future of Industry pillar. 'The 4th Industrial Revolution: Powering Future Economies' will shed light on the significant impact Industry 4.0 will have on the global economy.The Future of Investments pillar will present a session examining thematic investments, which have grown in importance during the post-pandemic period. The session will also consider the impact of investment opportunities on future societies.Meanwhile, the Future of Jobs pillar will highlight the career paths of tomorrow and share insights on potential jobs of the future that reflect the fast-evolving digital landscape on a global and local level.Additional sessions will examine the future of urban planning, how the growing use of AI and machine learning is transforming industries by enabling advanced IoT technologies, and the integration of robotics within the workplace, as well as the impact of ransomware and the importance of adopting robust cybersecurity measures.The Future Theatre will host focused and intimate sessions that provide additional scope for interaction, creating an engaging platform for meaningful dialogue that complements the forum’s compelling panel discussions and interactive main-stage sessions.The inaugural edition of the Dubai Business Forum builds on the success of Dubai Chambers’ series of ‘Global Business Forum’ events and is set to play a key role in contributing to the ambitious targets outlined in the Dubai Economic Agenda (D33), which seeks to double the size of the emirate’s economy over the coming decade.The Dubai Business Forum will be hosted at Madinat Jumeirah from 1-2 November.

Dubai Chambers reveals four key pillars shaping agenda at Dubai Business Forum

Dubai: Dubai Chambers has announced details of the Dubai Business Forum’s key thematic pillars ahead of the eagerly anticipated event, which will bring the global business community together at Madinat Jumeirah from 1-2 November for two days of insightful discussions, networking, and dealmaking.Hosted under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the forum will be held under the theme ‘Shifting Economic Power: Dubai and the Future of Global Trade.’Dubai Chambers has identified four key pillars that will form the basis of the event’s far-reaching agenda: Globalisation, Foreign Direct Investment, Digital Transformation, and Emerging Markets. Each of the forum’s sessions will be categorised under these verticals, ensuring participants are able to easily identify and attend the sessions that are most relevant to their individual areas of interest and expertise.Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “Our carefully curated agenda is designed to ensure participants maximise their time together by focusing on topics that will play a fundamental role in transforming business for the future. This innovative event will unite key public and private sector stakeholders from across the globe to engage in networking opportunities, explore new partnerships, and forge significant deals.”Lootah added: “The forum is envisioned as a unique platform to explore pressing global issues in depth, enabling the business community to take proactive steps to shape a future where business can thrive in an ever-evolving economic landscape.”No international business forum would be complete without addressing Globalisation, which has reshaped the business environment to create both opportunities and challenges. Businesses that effectively navigate the complexities of global markets can expand their reach, boost profitability, and access valuable resources. However, these advantages come with a need to address the unique challenges that come with operating on a global scale, all of which will be placed under the spotlight during the Dubai Business Forum.While Dubai continues to attract record-breaking amounts of Foreign Direct Investment (FDI), ongoing geopolitical issues, rising food and energy prices, and other economic pressures are impacting levels of FDI on a global scale. These trends require concerted efforts if they are to be addressed effectively. This is particularly true in the case of developing nations, with emerging markets poised to play a vital role in driving investments in priority sectors. The Dubai Business Forum creates a unique opportunity for participants to hear more about what the future holds for FDI from heads of state, policymakers, and leading financial experts.The crucial topic of Digital Transformation will also be examined during the forum. Advanced digital technologies are contributing to the growth of business, trade, and investments by automating processes, reducing waste, and optimising supply chain management. The forum’s Digital Transformation pillar will bring together thought leaders, innovators, and policymakers for a deep dive into the implications of emerging technologies and their impact on the global business community.It is widely predicted that Emerging Markets will represent six of the world’s seven largest economies by 2050. As these important markets further enhance their capabilities, they will grow to form an integral part of the global economy. The Dubai Business Forum will explore effective strategies to embrace this shifting world order and do business with emerging markets.The inaugural edition of the Dubai Business Forum builds on the success of Dubai Chambers’ series of ‘Global Business Forum’ events and is set to play a key role in contributing to the ambitious targets outlined in the Dubai Economic Agenda (D33), which seeks to double the size of the emirate’s economy over the coming decade.The event creates a unique platform for influential international figures from the public and private sectors to gather, identify emerging trends, and shape a better future for business, further cementing Dubai’s position at the heart of the global economy. Featuring two days of high-level plenary sessions, speeches, talks, workshops, and networking opportunities, the forum will serve as a catalyst to transform business and shape the future of global trade.The Dubai Business Forum will be hosted at Madinat Jumeirah from 1-2 November.

Dubai Business Forum will explore the future of global economy

Dubai Chambers is preparing to welcome heads of state, government officials, senior business leaders, and global investors to shape the future of business at the inaugural edition of the Dubai Business Forum. The eagerly anticipated event will take place at the city’s Madinat Jumeirah from 1-2 November under the theme ‘Shifting Economic Power: Dubai and the Future of Global Trade.’Hosted under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the forum will bring together key stakeholders from the government and private sectors across the globe to explore strategic economic partnerships, develop international networks, and open new horizons for business, trade, and investments.Previously known as the Global Business Forum, the Dubai Business Forum is set to play an instrumental role in achieving the objectives of the Dubai Economic Agenda (D33). Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “Shaping the future of the business landscape requires concerted efforts from all stakeholders as we strive to enhance the emirate’s competitiveness in line with the vision of the wise leadership. The Dubai Business Forum comes as part of our efforts to drive business and investment opportunities in the emirate and paves the way for companies to unlock the exciting opportunities created by Dubai’s ambitious economic agenda.”Lootah added: “The forum will bring together key stakeholders from around the world to engage in networking, explore partnerships, and forge significant deals. This landmark event is set to further strengthen Dubai’s reputation as a leading economic capital and empower the global business community to shape a more prosperous future. We look forward to hosting inspiring interactive discussions that will open new horizons for growth in business, trade, and investments.”Underlining Dubai’s growing position as a leading capital of the global economy, the forum will bring together key stakeholders in sectors including technology, retail, finance, travel, hospitality, real estate, and healthcare. The landmark event will feature insightful discussions and interactive sessions aimed at shaping the future of business.Dubai represents the ideal destination for hosting an event of this significance due to its strategic location as a gateway for international business and trade. The emirate is recognised as a leading centre for innovation and partnerships and serves as a bridge connecting continents that enhances global cooperation and drives sustainable economic growth.The Dubai Business Forum creates a dynamic platform for collaboration between key stakeholders that will accelerate the growth of trade and investments. The event is closely aligned with Dubai Chambers’ strategic priorities, which include attracting international companies and investments to the emirate, supporting the expansion of local companies in targeted global markets, and enhancing Dubai’s favourable business environment.The Dubai Business Forum will be held at Madinat Jumeirah from 1-2 November 2023. To register, please visit

Dubai International Chamber arranges 172 B2B meetings with Chinese MNCs

Dubai: Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has successfully hosted a B2B matchmaking event during the Wuxi – Dubai Economic & Trade Exchange Conference to explore business and investment opportunities between Dubai and Wuxi City.Organised in partnership with the Wuxi Municipal Government and Wuxi National High-Tech Industrial Development Zone, the event welcomed a high-level government delegation led by Mr. Du Xiaogang, Secretary of Wuxi Municipal Committee of the Communist Party, to Dubai with the goal of strengthening economic cooperation between the emirate and Wuxi City, which is located in East China’s southern Jiangsu Province.A total of 13 Chinese multinational companies specialising in areas including advanced technology, biomedical and healthcare equipment, the Internet of Things (IoT), Information and Communications Technology, microelectronics, and renewable energy took part in 172 B2B meetings with 38 local companies during the event, which were facilitated by Dubai International Chamber to highlight the emirate’s attractive business environment and support the expansion of Dubai-based companies into the Chinese market.Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “China has consistently ranked as the UAE’s biggest trading partner, and we are keen to expand these deeply rooted trade and investment ties further in the country’s eastern region. With its comprehensive logistics infrastructure and strategic location along the New Silk Road, Dubai serves as a convenient gateway to the MENA markets, enabling leading Chinese companies to seize opportunities and thrive in a rapidly evolving global landscape. The dedicated teams at our international representative offices in Shanghai, Shenzhen, and Hong Kong will continue to work to attract many more innovative Chinese companies to Dubai, including those in Wuxi.”

DIC strengthens global presence with launch of Vietnam

Dubai: Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has inaugurated a new international representative office in Vietnam. Located in Ho Chi Minh City, the office further strengthens the chamber’s presence in Southeast Asia following recent openings in Indonesia and Singapore and is aimed at boosting bilateral trade and investment between Dubai and Vietnam.The official launch ceremony was held recently with the participation of H.E. Dr. Bader Abdullah Al Matrooshi, Ambassador Extraordinary and Plenipotentiary of the UAE to Vietnam, and Salem Al Shamsi, Vice President of Global Markets, Dubai Chambers.The opening brings the total number of Dubai International Chamber representative offices to 22 across the Middle East, Africa, Eurasia, China, India, and Latin America. The office will support and guide Dubai-based companies seeking to expand into Vietnam throughout every stage of their international expansion, as well as creating new mechanisms to attract FDI from Vietnam to Dubai by promoting the emirate as a preferred business hub and gateway to access emerging markets.Commenting on the launch, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said: “The inauguration of our new office in Ho Chi Minh City underlines the importance of Dubai’s well-established relationship with Vietnam. We are pleased to take this strategic step that further strengthens the ties between our vibrant business communities. We look forward to building on our shared commitment to innovation to increase bilateral trade in line with the ambitions of the Dubai Global initiative, which seeks to attract inward investment to Dubai and supports the emirate’s drive to boost non-oil foreign trade to AED 2 trillion by 2026.”H.E. Dr. Bader Abdullah Al Matrooshi, Ambassador Extraordinary and Plenipotentiary of the UAE to Vietnam, said: “The opening of Dubai International Chamber’s new representative office in Vietnam is one of several important steps taken by the UAE to further strengthen the partnership between the two countries. The launch follows recent initiatives including talks on establishing a Comprehensive Economic Partnership Agreement (CEPA) and the holding of an economic forum between the two countries in June this year. Trade figures between the two countries and other key indicators reveal promising opportunities for growth in trade and investments between our countries, and the Dubai International Chamber office will effectively contribute to achieving this goal.”The opening of the new office comes as part of the ‘Dubai Global’ initiative launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of Dubai Executive Council, which seeks to establish a powerful network of 50 international representative offices for Dubai around the world by 2030. The initiative aims to attract foreign companies, SMEs, investors, and international talent to Dubai by showcasing the emirate’s competitive advantages, sharing investment intelligence, and strengthening engagement with key international stakeholders.According to Dubai Customs statistics, the value of non-oil bilateral trade between Dubai and Vietnam reached an impressive AED 28.3 billion (US$ 7.7 billion) during 2022, reflecting the depth of joint trade ties between the two markets. As of 31 May 2023, a total of 170 Vietnamese companies were registered as members of Dubai Chamber of Commerce, 22 of which joined between January and May this year. The launch of the new Ho Chi Minh City office is set to play a key role in boosting this momentum by attracting more Vietnamese companies to Dubai.Last year, notable exports and re-exports from Dubai to Vietnam included tobacco (US$ 92 million), animal fodder (US$ 38 million), and aluminium (US$ 33 million), as well as perfumes and cosmetics, machinery, plastics, iron and steel, mineral fuels and bitumen, and medical instruments.Dubai’s main imported products from Vietnam included electronics (US$ 5.15 billion), footwear (US$ 564 million), and machinery (US$ 375 million), together with knitted articles, inorganic chemicals, apparel, fruits and nuts, coffee, tea and spices, furniture, and leather articles.The chamber has identified several areas that demonstrate high potential for growth in exports from Vietnam to Dubai, including coffee, tropical fruits, furniture, and cashew nuts. Opportunities also exist to increase imports to Vietnam from Dubai in areas such as meat, beverages, coffee, spices, perfume, and cosmetics.Promising sectors for investment in Vietnam include agribusiness, construction, ecotourism, food processing, and renewable energy.

Dubai International Chamber launches New Horizons Trade Mission to Central Asia

Dubai International Chamber, one of the three Chambers operating under Dubai Chamber, launched today “New Horizons”, a new initiative to drive international expansion of its members to new markets.'New Horizons' allows companies to join roadshows to gain first-hand knowledge of how to establish and do business in various select countries and priority markets.The first in a series of ‘New Horizons’ events will see a large delegation of Dubai business leaders heading to Central Asia between 14 – 21 March, 2023, to better understand and explore business opportunities in Uzbekistan, Kazakhstan and Kyrgyzstan.The delegation, headed by Mohammad Ali Rashed Lootah, President & CEO of Dubai Chambers, will feature 26 Dubai-based companies representing 16 sectors. The delegates gathered today at Dubai Chambers headquarters for a pre-Trade Mission briefing, during which details of the trip, and further information on the economic outlook of the three nations was revealed.New Horizons builds on the ‘In Focus’ scheme. Both initiatives aim to assist in driving members’ international expansion while supporting Dubai’s plan toincrease the emirate’s foreign trade to AED2 trillion by 2026. One of the Chamber's key objectives is to support 100 businesses to expand globally within the next two years.'In Focus' events, held in Dubai, aim to connect Dubai businesses with public and private sector leaders of select countries to drive their interest in those regions as potential destinations for international business expansion and guide them through every stage of their international growth journey. The first In Focus event was held in December 2022 and put Central Asia market under the spotlight.Mohammad Ali Rashed Lootah, President & CEO of Dubai Chambers, said: "The In Focus and New Horizon initiatives reflect our ongoing efforts to connect our members to new opportunities for business growth in priority markets worldwide. Through the events in Dubai and in the market or country in focus, we aim to encourage domestic businesses to build an international presence, while promoting Dubai as a thriving global investment hub and encouraging FDI and new partnerships from the markets we visit."Lootah added that the upcoming Trade Mission will provide the participating business leaders from Dubai with insight, information, and guidance on exporting to or investing in Central Asia. “We will soon embark on this exciting Trade Mission which includes local expert talks, pre-arranged business matching activities, networking meetings and site visits to industrial and economic zones, alongside cultural and engagement activities. New Horizons to Central Asia will enable us all to engage in focused and meaningful discussions with decision makers from the government and private sectors in Uzbekistan, Kazakhstan and Kyrgyzstan,” he added.In the three nations, the largest contributors to GDP include manufacturing, trade, transport, agriculture and construction. UAE exports to these Central Asian nations include electronics, vehicles, machinery and tobacco. Central Asia is already an important market for Dubai: in 2021, Dubai’s non-oil trade with the three countries reached US$2.4 billion.The trip offers the chance for companies in a variety of sectors to seek out trading partners and develop new bilateral trade agreements. Several opportunities exist for Dubai-based businesses in areas including agriculture, metallurgy, tourism and construction.The Trade Mission is a golden opportunity to engage with both public and private sector leaders to promote cross-border partnerships and drive mutual business growth. The eight-day roadshow takes in four cities: Tashkent, Uzbekistan; Astana and Almaty, Kazakhstan; and Bishkek in Kyrgyzstan.Dubai Chambers is committed to supporting its members to globally expand into strategic markets across the world as well as attract foreign investments and international companies – including those from Central Asia - to the emirate and enhance Dubai’s reputation as a global business and trade hub.

Dubai Chamber of Commerce launches five business groups

Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, has launched business groups for five economic sectors—medical equipment, plastics & rubbers, optics & eyewear, paper, tissue & stationery, as well as chocolate & confectionery. These business groups will encourage engaging discussions that will drive the competitiveness of these business sectors within Dubai’s economy.Commenting on the establishment of the new business groups, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said: “The new business groups will play a notable role in supporting their respective economic sectors and activities, enhancing their competitiveness, and driving growth. The Chamber works to improve the economic performance and enhance the contribution of the private sector, which the business groups represent, in ensuring sustainable development.”Lootah noted that the partnership between the public and private sectors is a top priority in the vision of the emirate's wise leadership, stressing that Dubai’s economic model has established itself as a prime example in setting visionary, future-shaping, and proactive strategies. “Business groups have a tremendous responsibility to keep pace with the emirate’s strategic plans and contribute to developing and improving various sectors and economic activities,” he added. “The Chamber remains committed to providing all the support the private sector needs to play its part as a strategic partner of the business community.”Medical Equipment Business GroupAt an annual compound growth rate of 4.4 per cent, Fitch Solutions has estimated that the UAE’s medical device market will reach US$1.52 billion by 2025, benefiting from an overall strong economic performance in the coming years.Key market drivers supporting this trajectory include, population growth, changing epidemiology, a growing medical tourism industry, healthcare infrastructure developments, expanding health insurance, digital transformation and new technologies.The setting up of the Medical Equipment Business Group will further bolster business activity within the sector, bringing together members in transparent conversations to support the sector in advocating beneficial policy changes that will in turn enhance its competitiveness.Plastics & Rubbers Business GroupPlastic products are one of the UAE’s main exported commodities. Its exports of polyethylene to the world reached US$1.4 billion in 2019, growing with a CAGR of 15% from 2011 to 2019.Among plastic products, UAE mainly exports raw material but there is a high potential to apply product diversification in plastic exports, in the form of intermediate or final plastic products.The Plastics & Rubber Business Group supports various businesses within the sector by providing them a platform for constructive dialogues to increase business activity and boost potential export opportunities for plastic and rubber manufacturers.Optics & Eyewear Business GroupEyewear in the UAE witnessed a rebound in retail volume and value sales in 2021 following double-digit declines during the first year of the pandemic. Trends such as digitalisation and working from home will continue to affect consumer purchases for the next five years.The pandemic has forced many retailers and manufacturers to develop digital eye health and virtual try-ons, as well as investing in e-commerce infrastructure. However, eyewear is still heavily driven by store-based retailing, with e-commerce accounting for under 10% share of total sales in 2022.The Optics & Eyewear Business Group will shape the future of sector. Through collaboration, the setting up of this business group allows its members to be ahead of the curve in new trends such as tele-optometery and smart glasses. Due to rapid innovation, these are areas that are expected to gain momentum in the coming years.Paper, Tissue & Stationery Business GroupTwo essential products in everyone’s daily lives, the setting up of the Tissue and Stationery Business Group comes at the right time as purchasing momentum continues to accelerate post pandemic. The business group is a crucial element to maintaining relevance and competitiveness of the sector in Dubai’s economic landscape.The pandemic has generated a surge in demand for tissue and hygiene products over the last few years. While restrictions will continue to be relaxed, depending on the threat level of the pandemic, demand for tissue and hygiene, especially products directly related to personal cleanliness will continue to grow.Despite a short period of decline in the first quarter of 2020, the UAE stationery market has since witnessed robust growth. Increasing government investment in the educational sector, growing disposable income of consumers and high literacy rate in the country, rapid urbanisation and increasing employment will continue to increase the demand for the stationery market in UAE.Chocolate & Confectionery Business GroupConsumers are regaining their purchasing power especially after the lifting of restrictions. As they attempt to return to some level of normality in their lives, increasing consumer confidence combined with higher disposable incomes will positively impact demand for discretionary snacks.With a more health-conscious demographic, the demand for organic and chocolate confectionery variants with lower sugar content is on the rise. The Chocolate & Confectionery Business Group will support producers and manufacturers navigate the changing business landscape.There is also a clear demand for premium and innovative chocolate confectionery as well as luxury gifting boxes and boxed assortments. The business group will also support its members by providing them an exclusive forum to discuss the various trends shaping the future of Dubai’s chocolate and confectionery sector.This initiative is part of the chamber’s plans to increase the number of business groups that represent the various economic sectors and activities in Dubai. The chamber plans to increase the number of business groups to 100 by March this year.