- August 9, 2023
- Posted by: Waqas Siddiqui
- Category: Business & Economy
Dubai Chamber of Commerce Reports 43% Increase in New Companies During H1 – 2023
Dubai Chamber of Commerce has reported notable achievements in the first half of 2023. These accomplishments include a significant increase in new companies. Additionally, the value of exports and re-exports have also surged. These impressive outcomes mirror Dubai’s competitiveness and its business community. This is complemented by the chamber’s unwavering commitment to realizing the objectives of Dubai Economic Agenda (D33).
H1 – 2023 Key Achievements
The number of new companies surged by 43% between January and June this year, reaching a total of 30,146. This is a notable increase from the 21,098 companies during the first half of 2022. The significant expansion highlights Dubai’s attractiveness to companies and investors alike. It also contributes to the emirate’s growing recognition as a leading global business hub. Furthermore, the collective value of exports and re-exports from member companies increased by 7% in the initial half of 2023, crossing AED 137.6 billion. This marks a rise from AED 129.4 billion during the corresponding period last year. Additionally, the chamber issued 357,000 certificates of origin in H1 2023.
Over the six-month duration, a total of 2,402 ATA Carnets were issued and received for commodities and goods, carrying a value of AED 2.5 billion. In comparison, there were 2,326 ATA Carnets valued at AED 1.2 billion issued and received in H1 2023. This showcases growth in the worth of goods and commodities by more than 108%, while the count of ATA Carnets issued and received increased by 3.3%.
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Significant Achievements in Dubai – H1 2023
During the initial half of 2023, several remarkable accomplishments were observed. One of these achievements was the establishment of the Dubai Centre for Family Businesses. The Center’s primary aim is to ensure the growth of family-owned enterprises in Dubai and focus on enhancing their economic contribution to the emirate’s dynamic future. The initiatives commenced with the introduction of the Governance Series, a set of informative educational sessions addressing crucial topics. This included laws affecting family businesses and effective governance practices, essential components in succession planning.
Promoting Business Environment and Sustainability
Focusing on fostering a favorable business environment, the Business Advocacy sector arranged more than 160 meetings. It consisted of representatives from Business Groups and Councils, delving into sector-specific challenges and opportunities. Aligned with its strategic priority to enhance the business environment, the Dubai Chamber of Commerce introduced the ‘Business Sectors Platform’. It has a comprehensive service package tailored to empower Business Groups and Business Councils, boosting the effectiveness of their operations. The platform garnered 78 users during its initial phase.
Driving Collective Climate Action in the UAE’ in May, an event targeting private sector engagement in the COP28 agenda. Organized in partnership with the UN Climate Change High Level Champions, the event attracted approximately 700 attendees. The Centre for Responsible Business (CRB) organized three Sustainability Knowledge Series events in the first half of 2023, attracting 408 participants from 310 companies. In recognition of corporate social responsibility efforts, ten companies were awarded the CSR Label, eight received the Advanced CSR Label, and 47 companies were honored with SMART CSR Labels.