May 17, 2024
2 mins read

Dubai Int’l Chamber attracts 7 big firms during Q1

Dubai International Chamber also supported the expansion of 21 local companies into new global markets during Q1 2024 through various programmes and initiatives…reports Asian Lite News

Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has announced details of several notable achievements during Q1 2024 in attracting foreign direct investment to Dubai and supporting the efforts of local companies to expand into global markets, in line with the objectives of the Dubai Economic Agenda (D33).

The chamber achieved a year-over-year (YoY) growth of 48% in the number of multinational companies (MNCs) and small and medium enterprises (SMEs) it attracted to the emirate, which increased from 25 in the first quarter of 2023 to 37 during Q1 2024. This impressive increase reflects Dubai’s growing attractiveness among global investors and position as a leading destination for businesses operating across diverse sectors.

The companies attracted during the first three months of this year included eight MNCs, which increased from five in Q1 2023, representing YoY growth of 60%. A total of 29 SMEs were attracted to Dubai in Q1 2024, an increase of 45% compared to the 20 that were attracted during Q1 2023.

Dubai International Chamber also supported the expansion of 21 local companies into new global markets during Q1 2024 through various programmes and initiatives. The chamber assisted these companies with exporting to new countries, establishing their presence overseas, and engaging in joint ventures with local businesses in their target markets. The number of companies assisted with international expansion increased by 200% compared to Q1 2023’s figure of seven businesses.

Sultan Ahmed bin Sulayem, Chairman of Dubai International Chamber, commented, “We are continuing to step up our efforts to attract international companies and investors to the emirate, while advancing the expansion of local companies into promising global markets. These activities form a key part of our drive to contribute to advancing sustainable development and achieving the objectives of the Dubai Economic Agenda (D33).”

He added, “The chamber’s growing network of 31 international representative offices plays a central role in promoting Dubai as an ideal city for global talent, high-net-worth individuals, and companies of all sizes across diverse sectors. Our offices are central to our plans to consolidate Dubai’s position as a leading global destination for foreign direct investments and a launchpad for expansion into new markets worldwide.”

ALSO READ: Sheikh Mohammed meets Kuwait PM in Manama

Previous Story

World’s biggest AI prompt engineering challenge in Dubai

Next Story

UAE sending flood aid to Brazil

Latest from -Top News

UN slams attacks on civilians in El Fasher

The office said the United Nations and its humanitarian partners remain committed to scaling up their life-saving support across Darfur…reports Asian Lite News UN humanitarians, alongside their partners in Sudan, are warning

Afghanistan vows retaliation after talks breakdown

While reiterating its commitment to dialogue, Kabul threatened that it would not tolerate further cross-border attacks….reports Asian Lite News Afghanistan issued a stern warning to Pakistan on Tuesday, vowing a strong response

ASEAN-India Summit lays path for multipolar Asia

According to the report, ASEAN continues to measure its success through pragmatic regionalism…reports Asian Lite News The ASEAN-India Summit provided a platform for Southeast Asian partners — India foremost among them —

Lahore Tops World Pollution Chart

Along with Lahore, Pakistan’s Karachi also featured in the top 10 most polluted cities globally. …reports Asian Lite News Lahore, Pakistan, continues to hold the title of the world’s most polluted city.
Go toTop

Don't Miss

India Pavilion records 7 lakh visitors

The Pavilion has so far clocked 7,05,622 visitors as of

Fujairah Crown Prince briefed on Creative Centre’s plans, activities

Sheikh Mohammed was acquainted with the activities and initiatives that