Dubai attracts 92 new businesses in first 9 months of 2023

FE Team | Published: November 23, 2023 23:04:36

RIYADH, Nov 23 (Arab News): Dubai witnessed 92 businesses relocate to the emirate in the first nine months of 2023 in a boost to its global business outlook.
The Dubai Chamber of Commerce revealed that 15 multinational companies and 77 small and medium enterprises were now present in the emirate.
The chamber further reported that it had aided the expansion of 33 Dubai-based companies into global markets by increasing their exports or helping them establish a presence abroad.
"We are continuing to leverage our network of representative offices across the globe to attract inward investment and support foreign companies seeking to set up in Dubai and expand into the MENA (Middle East and North Africa) region and beyond," Sultan Ahmed bin Sulayem, chairman of Dubai International Chamber, said in a release.
"Through our services, resources, and public and private sector connections, we are assisting Dubai companies to expand their businesses and capture diverse investment and export opportunities in overseas markets," he added.
As outlined in the Dubai Economic Agenda, also referred to as D33, the chamber is committed to enhancing trade and investment as a critical component of its objectives. The goal is to strengthen economic growth, doubling the size of the UAE's economy by 2033.
In alignment with the "Dubai Global" initiatives' target of establishing 50 offices by 2030, the chamber launched international branches during the third quarter of 2023 in Ho Chi Minh City in Vietnam, Milan in Italy, and Paris in France.
By expanding globally, the chamber hopes to attract foreign companies, SMEs and investors to Dubai by facilitating communication and economic cooperation channels.
In its statement, the body underscored that it targets 30 international markets of strategic importance through the growing network of representative offices.
Earlier in the year, the chamber launched the "New Horizons" initiative to support the expansion of Dubai-based companies in global markets.
The initiative enables companies to join international roadshows to explore potential investment opportunities and economic partnerships.
The "Global Expansion Series," a project launched by the chamber this year, also aims to support the international growth of local companies and their expansion into global markets.
By the end of the third quarter of 2023, the chamber hosted two events as part of this initiative, with the participation of more than 100 companies.