Sheikh Mohammed revamps Dubai Chambers

Advertisement

The move is also part of efforts to catalyse Dubai’s economic transformation and further reinforce the city’s rise as a global business hub, reports Asian Lite News

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved the new Board of Directors of Dubai Chambers, which was recently restructured into three entities – Dubai Chamber of Commerce, Dubai Chamber of Digital Economy and Dubai Chamber of International Trade.

The decision forms part of restructuring the Chambers’ operations to enhance its contributions to Dubai’s economy, raise the level of support provided to emerging business sectors and accelerate Dubai’s innovation journey.

The move is also part of efforts to catalyse Dubai’s economic transformation and further reinforce the city’s rise as a global business hub.

His Highness said the three new chambers are integral to Dubai’s new drive to create a highly competitive, advanced investment environment geared for rapid growth. “In the light of the changes sweeping across the globe, we need to adopt new business models that enable us to raise our sustainability and attain continued success. Deploying innovative operational frameworks and developing flexible legislations will help us foster further growth and achievement in Dubai’s economy,” His Highness said.

“Dubai Chambers will be one of the organisations spearheading our efforts to further transform the emirate’s business environment and enhance its position as a dynamic regional and global centre for business, trade and finance,” His Highness said. “Dubai will continue to constantly offer new opportunities and facilitate the efficient flow of international trade backed by its advanced logistics hub, state-of-the-art ports and airport infrastructure, and its pro-growth business environment,” His Highness noted.

Speaking on the Chambers’ business plan, His Highness said: “The members of Dubai Chambers will be active stakeholders in executing Dubai’s international trade strategy which aims to expand our external trade to AED2 trillion in five years,” His Highness added.

His Highness also reviewed the objectives of all the three chambers and stressed on the need for them to work in close coordination and harmony under the Board of Dubai Chambers. His Highness further said the work of the chambers should be guided by a comprehensive strategic vision that reflects the directives of Dubai Government.

ALSO READ: UAE joins Central American Integration System

In March, His Highness approved the restructuring of Dubai Chambers into three separate organisations with unique functions – Dubai Chamber of Commerce, Dubai Chamber of Digital Economy and Dubai Chamber of International Trade.

Juma Al Majid was named as the Honorary Chairman of the Dubai Chamber of Commerce and Industry while Abdulaziz Al Ghurair was appointed as its Chairman. Sultan bin Sulayem was named Chairman of the Dubai Chamber of International Trade and HE Omar Al Olama was named Chairman of the Dubai Chamber of Digital Economy.

The Board of Dubai Chambers is chaired by Abdulaziz Al Ghurair and its members include Omar Al Futtaim, Khalid Jumaa Al Majid, Rajaa Al Gurg, Omar Al Olama, Sultan bin Sulayem, Butti Saad Al Kendi, Helal Saeed Al Marri, Faisal Jumaa Belhoul, Patrick Chalhoub, Ghassan Al Kibsi, Dr. Amina Al Rustamani and Tariq Hussain Khansaheb.

The Board will work to create a comprehensive unified strategy for Dubai Chambers, set key priorities and objectives, propose major initiatives to advance Dubai’s strategic economic development, and ensure streamlined coordination and integration between the three chambers.

The Board of Dubai Chambers seeks to accelerate the growth of the Dubai economy by promoting Dubai as a global business hub and attracting multinational companies. The Dubai Chamber of International Trade will represent and support the interests of local companies with international presence and international companies based in Dubai. It will also support Dubai’s vision to expand to new global markets, forge new economic partnerships and support local companies in achieving global success, while also attracting promising talent and investors from across the world. The Dubai Chamber of International Trade seeks to cover 30 international markets that are considered important markets for Dubai through promotional projects.

The Dubai Chamber of Digital Economy is tasked with launching projects and developing studies on the new future economy, as part of efforts to build the world’s best digital infrastructure and transform Dubai into an international technology hub. With the objective of promoting the interests of technology companies and advancing the role of the digital economy in the emirate, the new chamber will build a network of relationships with local and international tech entrepreneurs and investment funds. It will also help draft legislations in Dubai and the UAE to create a growth-friendly environment for the digital economy.

ALSO READ: T20 World Cup set to be played in UAE from Oct 17