UAE News Today : Politics

Dubai Chambers attracts companies to establish commercial projects in Dubai


Dubai International Chamber, one of the three chambers that operate under the umbrella of Dubai Chambershas successfully attracted six companies from around the world to set up their businesses in Dubai.

The signing of six Memorandums of Understanding (MoU) during the Dubai Business Forum underlines the chamber’s commitment to achieving its strategic priorities by attracting global businesses and investments to the emirate.

Agreements were signed with five multinational companies, including the Chinese Shenzhen Meiniao Technology; Temla Consumer Products, Sensedynamic Fashion and Metal Power of India; and the Indonesian House of Indonesia. Additionally, an MoU was signed with Dynamox, an SME from Brazil.

Valued at more than 300 million dollars, Shenzen Meiniao Technology is a Chinese technology company dedicated to comprehensive solutions for automotive and home entertainment software and hardware. Through five years of intensive development, the company has created a range of automotive entertainment software and hardware solutions at various price points for common and smart connected cars. It also has research, development and production capabilities of smart karaoke software and hardware.

Timla Consumer Products is a dynamic and vibrant Indian snack brand catering to a health-conscious market. The company has established a branch in the United Arab Emirates under the name Timla Trading. With projected annual recurring revenue of US$14 million by 2023-2024, the company aims to establish strategic partnerships that leverage local expertise while bringing its unique offerings to the UAE.

Sensedynamic Fashions is a direct-to-consumer youth fashion e-commerce company that aims to democratize fashion. Valued at $20 million, the company operates using innovative on-demand production technology and works with zero inventory and zero storage as a zero-waste brand.

metallic power is an Indian manufacturing company offering a wide range of Optical Emission Spectrometer products, accessories and services. Valued at $12 million, the company has more than 35 years of experience in spectrometry, directly and indirectly supplying and servicing its customer base in more than 50 countries on six continents.

Formerly known as NRA Group, House of Indonesia is one of the largest Hajj and Umra travel agencies in Indonesia. With current revenues of between $150 million and $180 million, the company plans to move its headquarters from Jakarta to Dubai. In addition to its travel offerings, House of Indonesia will focus on business sectors including general trade, property and furniture.

Dynamox is a Brazilian technology company specialized in the development of monitoring and vibration solutions for maintenance and reliability equipment in various industries. Valued at $20 million, the company has a presence in 22 countries around the world and plans to establish an office in Dubai to connect with potential partners and clients across the MENA region, particularly in the mining and food and beverage sectors.

The six agreements were signed in The offer centera dedicated impact-driven platform for global business leaders and investors to forge and announce major business initiatives, partnerships, investments and business alliances during the Dubai Business Forum. An innovative initiative that reflects Dubai Chambers‘committed to driving growth in international trade and investment, The Deals Hub further cements Dubai’s position as a leading global city to do business.

Hosted since November 1-2 under the sponsorship of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai, The Dubai Business Forum brings together key government and private sector stakeholders from around the world to explore strategic economic partnerships, develop international networks and open new horizons for business, trade and investment.

News source: Dubai Press Office


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