Dubai International Chamber boosts emirate's 2023 FDI

Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has attracted a total of 92 businesses, including 15 multinational companies and 77 SMEs, to the emirate between January and September 2023.

It has also supported the successful expansion of 33 Dubai-based companies into global markets, either by increasing their exports or helping them to establish a presence abroad.

Strengthening its presence across Europe and Southeast Asia, the Chamber launched three new international representative offices during Q3 2023 in Ho Chi Minh City, Vietnam; Milan, Italy; and Paris, France.

They will play a key role in attracting foreign companies, SMEs, investors, and international talent to Dubai, as well as supporting the global expansion of Dubai-based companies.

It also launched nine new overseas representative offices during the first nine months of this year, placing it firmly on track to achieve the Dubai Global initiative’s target of establishing 50 offices by 2030.

Earlier in the year, the New Horizons initiative was launched to support the expansion of Dubai-based companies in international markets. 

It enables companies to join international roadshows to gain first-hand experience in targeted markets and participate in bilateral business meetings to explore potential investment opportunities and economic partnerships. 

Four trade missions were organised between Q1 and Q3 2023 encompassing roadshows in Central Asia (Uzbekistan, Kazakhstan, and Kyrgyzstan); London,  Johannesburg, and Hong Kong.

Another key initiative is the Global Expansion Series which is designed to support the international growth of local companies and strengthen their expansion into global markets. By the end of Q3 2023, the chamber had successfully organised two events as part of this initiative, which attracted the participation of more than 100 companies.

The chamber is targeting 30 international markets of strategic importance through its growing network of international representative offices.

Sultan Ahmed bin Sulayem, Chairman of Dubai International Chamber, said, “The chamber remains committed to boosting trade and investment as part of our ongoing drive to achieve the goals outlined in the Dubai Economic Agenda (D33), which aims to double the size of the emirate’s economy by 2033.”