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 Chambers launches new Mohammed Bin Rashid Al Maktoum Business Award

Dubai Chambers has launched the Mohammed bin Rashid Al Maktoum Business Award in its new reimagined form, which introduces a series of enhancements to the award model, evaluation mechanisms, and award categories. Established under the umbrella of Mohammed bin Rashid Al Maktoum Global Initiatives, the award represents the highest level of recognition for the contributions of organisations to the sustainable development of Dubai’s dynamic business community.Organised 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 new award was launched during a special ceremony today at Dubai Chambers' headquarters with the participation of His Excellency Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, and Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, in the presence of leading figures from the local business community.The new award is the result of the merger of two of Dubai's most prominent awards for business excellence; the previous edition of the Mohammed bin Rashid Al Maktoum Business Award, and the Dubai Quality Award. The initiative comes as part of Dubai Chambers' drive to elevate standards throughout the business landscape.The award features four new categories including the Outstanding Business Award presented by Dubai Chambers, the Family Business Award presented by Dubai Chamber of Commerce, the Global Expansion Award presented by Dubai International Chamber, and the Digital Innovation Award presented by Dubai Chamber of Digital Economy.The award has undergone a comprehensive restructuring to reflect the needs of the business community, in line with Dubai's vision and the goals of the D33 economic agenda. Entries will be accepted from companies operating across diverse sectors starting from 2 October 2023. The award is open to Dubai-based businesses, as well as international companies who have their headquarters in Dubai.H.E. Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers, commented: "With the business landscape continuously evolving, the restructuring of the Mohammed Bin Rashid Al Maktoum Business Award reflects the aspirations of the Dubai business community in the modern era. The evaluation criteria are now closely aligned with Dubai Chambers’ strategic priorities and are aimed at promoting a commitment to achieving a culture of excellence.”His Excellency continued: “We have completely redesigned the award, while also maintaining its primary objective of establishing a platform for the exchange of knowledge and experience to help participating organisations become leaders in their fields. This creates an important tool to support the sustainability of companies and recognises performance, accelerates growth, and improves brand reputation, ultimately enhancing their competitiveness and position in the market by encouraging the adoption of international best practices.”The award seeks to improve business strategies, processes, and overall performance, and comes as part of Dubai Chambers' drive to promote a culture of creativity and innovation within the local business community. The new model is based on extensive research and reflects the latest methodologies by focusing on processes and results in key areas as tangible measures of business success.The evaluation process examines areas including leadership, strategy, workforce management, ESG, and digital transformation, in addition to financial performance. Participating companies must achieve a minimum number of points from the award assessors across a detailed range of criteria in order to secure a place among the finalists in each category.The winners of each award category will be honoured during a grand ceremony to be held during the second quarter of 2024 in the presence of participating companies and distinguished representatives from the private sector.Dubai Chambers' adoption of a framework for business excellence is designed to encourage companies to continuously improve their performance throughout the evaluation process. All applicants will receive an extensive evaluation report on their submissions, and winners will also be encouraged to share their best practices with other companies throughout the business community.The Mohammed bin Rashid Al Maktoum Business Award was originally launched in 2005 under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to recognise the efforts of organisations that supported sustainable economic development in the UAE.

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 Chamber of Digital Economy launches report on 'Dubai’s VC Ecosystem'

Dubai: Dubai Chamber of Digital Economy, one of the three chambers operating under Dubai Chambers, has launched its third report on Dubai’s digital economy. The “Dubai's Venture Capital Ecosystem” report provides an overview of the investor landscape backing the start-ups and scale-ups that are transforming Dubai and the MENA region.Commenting on the release of the report, Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications and Chairman of Dubai Chamber of Digital Economy, said, “The UAE’s advanced digital ecosystem has accelerated the development of the entrepreneurship sector and contributed to significant growth in its activity. The country’s proactive vision in developing legislation and initiatives in the digital field creates a favorable environment for startups and fast-growing companies, which has attracted unicorn companies and investors from around the world and consolidated the UAE's position as a global hub for the digital economy.”Al Olama added, “The results in the report reflect our long-term commitment to developing smart digital solutions and deploying these to build a new and future-facing model for the economic sector in the UAE, and Dubai in particular, and underline the emirate’s position as a global capital for the future economy.”As Dubai sets its sights on becoming the global destination of choice for digital entrepreneurs, Dubai Chamber of Digital Economy is tasked with attracting leading tech companies, start-ups and scale-ups that can support Dubai’s digital ambitions. The chamber was created to build the world’s best digital infrastructure and transform Dubai into an international technology hub.With a series of visionary initiatives and investments in cutting-edge technology, Dubai is well on its way to achieving its ambitions. From its world-class fiberoptic network and cloud-based systems to its innovative approaches to smart city development, Dubai has set the standard for how cities can leverage technology to enhance the lives of its citizens and attract global businesses.Just one recent example is the opening of the Moro Hub in February 2023, world’s largest solar-powered data centre. The 100-MW facility is a Dubai 10X initiative, which is an innovative program launched by H.H. Sheikh Mohammed bin Rashid Al Maktoum in 2017. The initiative entails government entities creating disruptive, exponential change, placing Dubai 10 years ahead of leading global cities.According to the report, a total of 749 scale-ups across the MENA region (excluding Israel), have raised a total of over US$19.5 billion cumulatively over the past decade (2012-2022), with UAE scaleups accounting for 65 percent of total cumulative capital raised across the region.Today, Dubai is home to over 40 percent of the MENA region’s scale-ups, with 306 scale-ups calling the emirate home. Dubai still accounts for over 90 percent of all scale-ups in the country, which is home to 338 scale-ups in total.Dubai’s 306 scale-ups have raised over US$11.7 billion in funding over the course of the past decade, which represents an impressive 60 percent of the MENA region’s total cumulative fundraising total. In addition, in 2022, Dubai-based startups doubled-down on their prior year results, fundraising over US$2 billion.In addition, the growth of funding in the MENA region has exceeded US$4 billion in 2021 and 2022 and the number of mega-rounds of US$300 million or more has seen an increasing trend with three seen in 2021 and six in 2022, including two scaleups listing on stock exchanges.In 2022, there was a significant shift in the number of funding rounds, where scale-ups raised funding, and a trend towards larger cheque sizes and funding bracket gained momentum. In the US$100 million to US$1 billion range, funding rounds increased by more than 100 percent between 2021 and 2022. Other funding ranges also saw increases between 20 percent to 87 percent.Considering the source of capital raise, venture capital and corporate rounds accounted for over three quarters of the capital raised, while IPOs and ICOs accounted for nearly equal share.The number of scaleups have also increased considerably, in Dubai, growing 26 percent between 2021 and 2022. In terms of absolute numbers, Dubai saw an increase of 64 scale-ups between 2021 and 2022 growing from 242 to 306 scale-ups.Venture funding in Dubai has seen tremendous growth in the past decade. From a time of only seed stage and earlier rounds, Dubai has grown to become the only city in the MENA region to be home to startups to raise funds in Series E and Series F rounds.The report, which was produced in collaboration with Entrepreneur Middle East, reveals that more than 30 percent of the funding rounds are attributed to startups headquartered in Dubai, implying 87 percent of all funding rounds for UAE-based companies are for firms headquartered in the emirate.By 2031, the national digital economy is expected to be conservatively valued at well over US$140 billion (from today’s US$38 billion). Together with Dubai Chamber of Digital Economy, it is the collaboration between stakeholders and ecosystem players that will ensure that Dubai becomes the next digital economy capital of the world

Dubai Chambers taps LPS for social media, content production

Dubai: LPS, a leading UAE-based marketing communication agency, has been selected by Dubai Chambers following a bid to manage its social media presence and content production services across its four brand accounts: Dubai Chambers, Dubai Chamber of Commerce, Dubai International Chamber, and Dubai Chamber of Digital Economy.LPS was assigned as Dubai Chambers’ communications partner considering the agency’s expertise in managing corporate strategic communications in the Middle East and its communities-first approach. LPS will work with Dubai Chambers to attain key goals, such as creating a modern, consistent social media image through unified visuals and messaging while streamlining the entity’s online presence by integrating diverse triggers, events, activations, and business groups across its three chambers.LPS will leverage its communication prowess to support Dubai Chambers’ growth. By tailoring strategic communication to showcase the accomplishments and ambitions of Dubai Chambers, LPS will help strengthen the entity’s brand image and foster connections with businesses and stakeholders across the globe.Aasim Shaik – Managing Director of LPS, said: “We are thrilled to be collaborating with Dubai Chambers, utilising our cutting-edge creative, social media, and new-age content and production capabilities to contribute to the growth and advancement of Dubai and its vibrant business community. As the entity’s dedicated communication partner, we are honoured to play an integral role in shaping its narrative and forging opinion leadership, positively impacting current and future businesses.”LPS aims to elevate Dubai Chambers image and streamline its online presence by crafting compelling communications that reflect its recent developments and expansion. LPS will effectively convey the entity’s vision and values, contributing to the emirate’s growth as a global commerce and digital economy leader.As part of its continued commitment to growth and innovation, LPS is soon expanding its operations to two new locations, Riyadh – KSA, and New Jersey – USA. These strategic expansions will further establish the agency’s global presence, enabling it to better serve its diverse clientele while tapping into new markets and opportunities.

Dubai Customs, Dubai Chambers discuss cooperation

Dubai Customs and Dubai Chambers discussed means of cooperation in support of business and private sector and to enhance the emirate’s competitiveness following Dubai strategic plans and vision.These were the highlights of the meeting between Ahmed Mahboob Musabih, Director General of Dubai Customs, CEO of Ports, Customs and Free Zone Corporation and Dubai Chambers’ delegation headed by Mohammad Ali Rashed Lootah, President & CEO of Dubai Chambers at Dubai Customs main building.The two sides discussed their shared plans and strategies including electronic integration of services, and development of new services to consolidate Dubai’s position as a major global economic hub in the next ten years, and empower the new generation of Dubai traders in different sectors and support their expansion plans.Dubai Customs and Dubai Chambers had previously signed a memorandum of understanding on integration of the risk engine in what is related to the documents of origin and the ATA Carnet.“We spare no efforts to foster our partnerships with local and external entities, business groups and the private sector as part of the emirate’s vision of doubling external trade to AED25 trillion in the next decade, adding 400 new cities to the Dubai’s network, and attracting more investments,” said Musabih. “Dubai Customs provides advanced services to streamline procedures, and grow ROI’s for businesses.We are happy with this meeting with Mohammad Ali Rashed Lootah and the Dubai Chambers’ delegation as we have discussed very important topics to push forward our partnership towards more sustainable development and economic prosperity in Dubai.” On his part, Mohammad Ali Rashed Lootah highlighted the significance of the strategic partnership with Dubai Customs describing it as a model example to be followed in reinforcing Dubai and the private sector’s competitiveness, supporting companies in the emirate in their expansion efforts and delving into new markets.Lootah added; “Dubai Chambers is committed to achieve a number of strategic objectives to serve the private sector and enhance the emirate’s position as a preferred global hub for business. This includes opening new offices in promising markets around the world in support of the development plans and Dubai external trade.Our continuous dialogues and meetings with Dubai Customs are fruitful and essential within our common goal to augment the business environment, attract global firms and investments, support digital economy and facilitate Dubai companies’ global expansion.”

Dubai Chambers convenes with business groups and councils

Dubai Chambers has recently convened representatives of its business groups and councils to the fourth 2022 roundtable discussion aimed at fostering public-private sector cooperation to enhance Dubai’s favourable business environment.Held on a quarterly basis, the roundtable events provide group and council representatives with a platform to discuss timely business issues, proactively identify policy and legislative priorities, and drive collective advocacy impact to advance economic and business growth in Dubai.“Dubai Chambers is committed to protecting the interests of our members and meeting the changing needs of a dynamic business environment. We advocate to improve ease of doing business in Dubai, acting as a bridge between the emirate’s private sector and its forward-thinking government. The roundtable discussions with business groups and councils are valuable communication channels that help us identify and collectively address important policy matters that impact our business community in order to create a supportive, enabling, and innovation-based business environment,” said Maha AlGargawi, Executive Director of Business Advocacy at Dubai Chambers in her welcome remarks during the roundtable.Th event featured an overview of Dubai Chambers’ strategic priorities and the emirate’s economic outlook as well as updates on current and upcoming initiatives.During the event, Dubai Chambers presented results of the latest Dubai Quarterly Business Survey: Outlook, Impediments & Incentives, 2022, Q4.According to the survey, the overall majority of businesses in Dubai have better expectations for business conditions and sales. Sentiments on business confidence and business conditions have improved and are expected to positively impact private investment in Dubai. Companies are looking to increase digital adoption in all facets including advertisement (40%), digital payments (35%), e-commerce (25%) and digital marketing (31%).Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, announced this year plans to establish new country-specific business councils to expand economic cooperation and non-oil trade between Dubai business community and international markets of strategic importance across Africa, Latin America and the Middle East.In addition, Dubai Chamber of Commerce aims to increase the economic sectors and activities represented by business groups to 100 by March 2023. Business groups are policy advocates for their respective sectors that unify the voice of the business community and promote the private sector’s role in economic growth.

Dubai Chambers unveils plans to expand roles of business councils in Dubai

Dubai Chambers has unveiled new plans to establish new country-specific business councils operating in Dubai and expand their roles to support ongoing efforts to boost Dubai’s non-oil foreign trade and create new channels of economic cooperation between business communities in the emirate and promising markets around the world.The announcement was made by H.E. Abdul Aziz Al Ghurair, Chairman of Dubai Chambers, who addressed more than 150 ambassadors, consul generals and commercial attachés at the Diplomatic Circle Dinner 2022.The event was held at the Bulgari Hotel & Resort in Dubai in the presence of H.E. Juma Mohammed Al Kait, Assistant Undersecretary for International Trade Sector - UAE Ministry of Economy; Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers; and Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing (DCTCM).H.E. Al Ghurair called on ambassadors and members of the diplomatic community in the UAE to offer their support in establishing several new business councils that would provide the right platforms for businesses in the UAE and abroad to connect, collaborate and build mutually beneficial partnerships.“We are putting a new comprehensive framework into place that will restructure and expand the role of business councils in Dubai to boost its foreign trade and promote cross-border business opportunities for member companies. These councils will cover markets of strategic importance to Dubai and support us as we further expand our presence across Africa, Latin America and the Middle East and attract more companies and investment from these regions,” said HE Al Ghurair.H.E. Al Ghurair encouraged existing business councils to leverage Dubai International Chamber’s vast network of international offices to their benefit, operate more effectively and provide their members access to attractive growth opportunities in the UAE and abroad.He revealed that Dubai Chambers would organise a special forum in 2023 to engage members of business councils, as well as representatives from embassies, consulates and foreign trade and commercial offices operating in the UAE and invited participants to attend the event.He informed participants about important economic developments and several new initiatives and functions introduced by Dubai Chambers aligned with its new strategic priorities that aim to enhance the business environment and economic competitiveness in Dubai.In addition, he thanked members of the diplomatic community for their vital support in assisting Dubai Chambers’ events, trade delegations and other activities in 2022, including its participation at Expo 2020 Dubai, which he says significantly contributed to the organisation’s success and achievements.During his special remarks, H.E. Juma Mohammed Al Kait, Assistant Undersecretary for International Trade Sector - UAE Ministry of Economy, elaborated on the UAE’s strategic plans to enhance the regulatory environment, open new export markets, adopt advanced technologies and ensure an ideal ecosystem for talent and entrepreneursHe stated that the UAE is building a modern economy as a global hub for trade and foreign investment in line with the government target of doubling the size of the economy from AED 1.4 trillion to AED 3 trillion by 2030. He highlighted the importance of bilateral trade deals and comprehensive economic partnership agreements signed between the UAE and leading economies in accelerating trade, strengthening supply chains, creating investment opportunities and boosting innovation.“The UAE is ready - more than ever - to do business with the world and form mutually beneficial partnerships that promise brighter, better future for all,” Al Kait said as he called on business communities from around the world to capitalise on market opportunities emerging in the country.The UAE is also attracting a new generation of foreign direct investment to accelerate our industrial innovation ambitions. We are welcoming all forms of capital – technological and financial, H.E. Al Kait said, identifying healthcare, education, agritech, food production, fintech, financial services and advanced technologies as key target sectors for FDI. He added that new residency rules applicable to golden visas and green visas, as well as upgraded laws related to commercial companies, employment and family-owned businesses will help ensure the UAE’s sustainable economic growth.The Diplomatic Circle Dinner 2022 featured a panel discussion joined by H.E. Al Ghurair, Chairman of Dubai Chambers; H.E. Juma Mohammed Al Kait, Assistant Undersecretary for International Trade Sector - UAE Ministry of Economy; Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers and Issam Kazim, CEO of Dubai Corporation for Tourism and Commerce Marketing (DCTCM).During the discussion, the panellists shared their valuable insights and views on a wide variety of important matters, including cost of doing business in Dubai, the role of comprehensive economic partnership agreements in driving trade and existing support for local and international companies, in addition to new plans to streamline government services for companies in the UAE and abroad that aim to enhance ease of doing business.

Dubai Land Department, Dubai Chambers cooperate

In line with its commitment to achieving the strategic objectives of Dubai Government for the real estate sector and enhancing the sector’s contribution to Dubai’s economy, Dubai Land Department (DLD) signed a memorandum of understanding (MoU) with Dubai Chambers to enhance the investment environment and transparency in Dubai’s rental market. In the presence of HE Abdul Aziz Al Ghurair, Chairman of Dubai Chambers, the MoU was signed by HE Sultan Butti bin Mejren, Director General of Dubai Land Department, and Hassan Al Hashemi, Acting President & CEO of Dubai Chambers. The agreement will see the two entities align efforts with the aim of enhancing customer happiness and ensuring the best results from all relevant services in accordance with the best practices and international standards adopted in this regard. The memorandum of understanding will allow business councils and groups under the umbrella of Dubai Chambers to own and rent real estate and offices in the emirate to provide an ideal work environment for the business community.HE Al Ghurair said the agreement establishes a strategic partnership that complements Dubai Chambers’ 2022-2024 strategy and ongoing efforts to boost confidence in the real estate sector, which remains a key pillar of the emirate’s economy. He stressed the importance of constructive dialogue between the public and private sectors to support and drive Dubai’s sustainable economic growth and development.He added that the agreement is the latest of many efforts and initiatives Dubai Chambers is launching to ensure a favourable business environment in Dubai and cater to the changing needs of companies in the emirate and its attractiveness among foreign investors.Keeping up with the latest developmentsHis Excellency Sultan Butti bin Mejren said: “Dubai Land Department’s efforts align with the directives of the wise leadership to establish a global-best economy that keeps abreast of the most prominent current and future global developments and practices, particularly regarding the real estate sector. The MoU with Dubai Chambers comes in line with our keenness to improve the experience of customers and investors while also providing a safe and attractive real estate environment.”Bin Mejren added: “This cooperation with Dubai Chambers aligns with both our visions, and we look forward to achieving the desired results and aspirations, which in turn will enhance the emirate’s global leadership in real estate investment, as well as empowering the real estate community through seamless services and integrated data.