Dubai’s position as a global business hub continues to strengthen, with the Dubai Chamber of Commerce announcing a remarkable influx of new companies in the first half of 2024. The chamber successfully onboarded 35,670 new businesses, underscoring the emirate’s dynamic economic environment and its appeal to entrepreneurs and investors worldwide.
By the Numbers
The latest figures from the Dubai Chamber of Commerce paint a clear picture of sustained growth and robust commercial activity:
- New Companies (H1 2024): 35,670
- Year-on-Year Growth: 11.5% increase in new memberships
- Total Active Members: Over 390,000
- Certificates of Origin Issued: 395,145
- ATA Carnets Processed: 5,165
A Testament to the D33 Agenda
This significant growth is a direct result of the strategic initiatives outlined in the Dubai Economic Agenda (D33). The agenda aims to double the size of Dubai’s economy over the next decade by creating a highly attractive and competitive business environment. According to H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, the surge in new company registrations reflects the high level of confidence international businesses have in Dubai’s economy and its future prospects. The government’s pro-business policies, world-class infrastructure, and streamlined regulatory frameworks are key drivers attracting a diverse range of companies to the emirate.
Driving Global Trade and Investment
Beyond new memberships, the Chamber’s operational metrics highlight its crucial role in facilitating global trade. The issuance of nearly 400,000 Certificates of Origin in H1 2024 is vital for Dubai-based exporters, enabling them to access international markets smoothly. Furthermore, the processing of over 5,100 ATA Carnets, which permit the temporary tax-free and duty-free export of goods, demonstrates Dubai’s role as a central hub for international events, exhibitions, and cross-border commercial activities.
About Dubai Chamber of Commerce
The Dubai Chamber of Commerce is one of the three chambers operating under the umbrella of Dubai Chambers. It serves as a non-profit public organization whose mission is to represent, support, and protect the interests of the business community in Dubai. The Chamber provides a wide range of services, from issuing business documentation to offering networking opportunities and advocating for business-friendly policies, playing a pivotal role in the emirate’s economic development.
Looking Ahead
The record-breaking performance in the first half of 2024 sets a positive tone for the remainder of the year. The consistent growth in new company registrations signals that Dubai’s economic momentum is not slowing down. As the Dubai Chamber continues to expand its international presence and champion the D33 agenda, the emirate is well-positioned to attract further foreign investment, solidify its status as a leading global business destination, and serve as a critical gateway for companies looking to scale across the MENA region and beyond.
Source: My Startup World
