Dubai International Chamber attracts 157 multinational firms in first 9 months

(MENAFN) Dubai Chamber International, one of the three chambers operating under the umbrella of Dubai Chambers, has significantly strengthened its efforts during the first nine months of 2024. The chamber has been focused on supporting the expansion of local companies into promising international markets, as well as attracting foreign direct investment. These efforts align with the broader goals of the Dubai Economic Agenda (D33), which aims to further position the emirate as a global hub for business and investment.

During the first nine months of this year, the Dubai Chamber of Commerce and Industry attracted 157 companies, reflecting a substantial increase of 68.8 percent compared to 93 companies in the same period last year. This growth highlights the increasing importance of Dubai as a leading investment destination on the global stage, with a diverse range of companies—including multinational corporations, small and medium-sized enterprises—seeking to establish a presence in the emirate.

The chamber's efforts were particularly successful in attracting multinational companies, with 39 new firms joining Dubai, up from 18 in 2023, marking a 117 percent increase. Additionally, 118 small and medium-sized enterprises were attracted to Dubai, representing a 57 percent increase from the 75 companies that joined in the first nine months of the previous year. These figures underscore Dubai's growing appeal to businesses of all sizes.

Dubai Chamber International also played a key role in supporting the expansion of local companies into global markets. Through its network of external offices and various initiatives, the chamber helped 75 local companies expand into new markets during the first nine months of 2024. This represents a remarkable 241 percent increase compared to the 22 companies supported in the same period last year. The chamber’s efforts include facilitating direct export and establishing direct presences in target markets, contributing significantly to Dubai’s economic growth and global reach.

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