The newly formed board of Dubai Chamber of Commerce, one of the three chambers under the recently restructured Dubai Chambers, held its first meeting at the organisation’s headquarters earlier today where it adopted a 90-day plan to drive business growth in Dubai.
Among the plan’s objectives are: maximising exposure of Expo 2020 Dubai by driving participation and attracting 100,000 business leaders to attend the mega event; addressing key challenges facing companies and setting priorities on a federal and local level with the aim of developing effective solutions; and supporting the development of digital economy as a key contributor to the emirate’s sustainable growth.
The objectives are supported by the Future Growth Forum, which was recently launched by Dubai Chamber as a platform to promote public-private sector cooperation. The first forum, held earlier this week, was attended by 500 business leaders representing 24 sectors that are key to Dubai’s economy. Participants at the forum took part in several workshops where they identified 800 priorities and recommendations for improving ease of doing business and reducing the cost of doing business in Dubai.
The meeting, headed by H.E. Abdul-Aziz Abdulla Al Ghurair, Chairman of Dubai Chamber of Commerce, was attended by board members H.E. Majid Hamad Rahma Al Shamsi, HE Hisham Abdullah Al Shirawi, Patrick Chalhoub, Hind bin Khirbash, Mohammad Abdul Ghafar Hussain, Shehab M. Gargash and Saeed Saif Al Ghurair. H.E. Hamad Buamim, President & CEO of Dubai Chamber of Commerce and Industry also attended the meeting.
Board members discussed the various roles that Dubai Chamber of Commerce will play in enhancing Dubai’s value proposition and economic competitiveness in line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai announced in March of this year. The directives established a new structure for Dubai Chamber comprising three chambers – namely, Dubai Chamber of Commerce, Dubai Chamber of International Trade and Dubai Chamber of Digital Economy.
During the meeting, H.E. Al Ghurair said Dubai Chamber of Commerce will continue to play its crucial role in representing, supporting and protecting the interests of businesses in Dubai, while exploring new ways to meet the changing needs of Dubai’s fast-growing and dynamic business community.
H.E. Al Ghurair added that fostering innovation and entrepreneurship, attracting international companies to Dubai, improving ease of doing business, and facilitating public-private sector cooperation will remain top priorities for the Chamber, with the aim of enhancing the emirate’s economic competitiveness.
Dubai Chamber of International Trade will 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 Chamber will 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.
The formation of three chambers of commerce is aimed at supporting international trade and the digital economy and a five-year plan to increase Dubai’s foreign trade from AED 1.4 trillion to AED 2 trillion over the next five years.