His Majesty As part of a recent government restructuring aimed at driving comprehensive economic development in Dubai, Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the United Arab Emirates and Ruler of Dubai, approved the board of directors and advisory council of the newly-formed Dubai International Chamber.
As part of the efforts to establish Dubai as a global trade hub and a preferred destination for talents, the Dubai International Chamber, one of three new chambers, will develop plans to strengthen partnerships with global corporations, facilitate their operations, and support promising ideas and projects.
The chamber will also promote Dubai's advantages in supporting international trade flows, such as its vital logistics centre, modern ports and airports, and flexible, pro-growth corporate environment.
Sheikh Mohammed remarked, "The Dubai International Chamber is a new paradigm that aspires to support our international partners that are part of Dubai's economic development."
The new chamber members, he said, would fight to achieve our goal of increasing Dubai's international trade to Dh2 trillion in the next five years.
The diverse board of directors and advisory council of the Dubai International Chamber, which brings together specialists from all over the world, represent Dubai's leadership position as a global hub for innovation and entrepreneurship.
The chamber's advisory council represents a varied range of industry sectors, ensuring a lively and sophisticated business climate in Dubai, complete with world-class infrastructure and flexible legislation and facilities to promote the development of new industries. The new approach intends to build a strong entrepreneurship ecosystem in Dubai based on strategic partnerships that work, as well as speed up the post-Covid-19 economic recovery.
As the emirate enters a new development phase, Sultan Ahmed bin Sulayem, chairman of Dubai International Chamber, stated that the chamber aspires to strengthen ties with global firms, investors, and entrepreneurs in order to promote Dubai's standing as a major trading hub.
“Through integrated planning, the chamber will target new international markets and assist national enterprises in expanding internationally.”
Within a comprehensive framework that ensures offering an agile pro-business environment, the chamber will also support and integrate global investors, entrepreneurs, and talents into Dubai's thriving business community.
Bin Sulayem stated that the chamber will play a key part in accomplishing Dubai's five-year international trade plan, which was approved in March and aims to expand Dubai's commercial network to 200 new locations worldwide. The initiative aims to position Dubai at the core of the international economic flow, with a network that now stretches to 400 cities.
The Dubai International Chamber's mission is to establish Dubai as a global trade hub and a preferred regional destination for global firms; to form and strengthen partnerships with international companies, investors, CEOs, and entrepreneurs in key strategic markets in Dubai and to assist national companies in expanding internationally.
The chamber’s key responsibilities also consist of developing incentive programmes for global businesses in collaboration with the relevant entities and reviewing the suggestions of investors and entrepreneurships through the board members; helping multinational businesses based in Dubai and facilitating worldwide change services; providing solutions for policymakers in worldwide agencies to aid Dubai’s financial system; and growing legislation on international investment, tax and workforce in the private sector to ease business and trade in Dubai.
Dubai International Chamber aims to cover 30 high-priority international markets, expand Dubai's access to new markets, and strengthen Dubai's position as a preferred regional destination for global firms through programmes and projects. Its goal is to help national companies extend their operations internationally while also bringing global talent and companies to Dubai's core business sectors.
Sheikh Mohammed bin Rashid Al Maktoum presented resolutions during a Dubai Council meeting earlier to restructure the Dubai Chamber of Commerce into three different bodies with distinct functions to drive Dubai's comprehensive economic development in the next phase. The three chambers — Dubai Chamber of Commerce, Dubai Chamber of Digital Economy, and Dubai International Chamber — will work together in a comprehensive framework under the umbrella of Dubai Chambers to position Dubai as a global business hub, strengthen the role of the digital economy, and support the interests of multinational corporations with a presence in Dubai.