Middle Eastern and Eurasian companies will contribute 32% of SMEs attracted to Dubai Chambers in 2023

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Dubai International Chamberone of the three chambers that operate under the umbrella of Dubai Chambers, has revealed that 32% of the total number of small and medium-sized enterprises (SMEs) attracted to Dubai during 2023 were from the Middle East and Eurasia, closely followed by Asia and Australia at 29%. The growing number of SMEs locating in Dubai from countries around the world underlines the importance of the emirate as a key global hub for trade and investment.
He dubai chamber The report illustrates the diverse range of SMEs attracted to Dubai, facilitated by its global network of representative offices. In 2023, Latin America and Europe made up 26% of attracted SMEs, and African markets accounted for 13%. Trade and logistics had a 17% share, while IT claimed 13%, specializing in artificial intelligence, blockchain and robotics. Food/agriculture made up 10%, healthcare/pharmaceutical 9%, and utilities 7%. Financial services, real estate, retail, fashion, travel, hospitality and tourism each accounted for 6% to 4% of SMEs attracted, demonstrating Dubai’s attractiveness across sectors and regions.
Commenting on the figures, His Excellency Mohammad Ali Rashed Lootah, Chairman and CEO of Dubai Chambershighlighted Dubai’s reputation on the global stage as a destination for high-value investments. Your excellence stated that Dubai’s competitiveness arises from the wise and progressive vision of its leadership, the emirate’s business-friendly environment and continuous development of services, together with favorable legislation and the diverse range of investment opportunities available.
Your excellence aggregate:
“Our network of international representative offices in key global markets has effectively promoted Dubai’s business community and highlighted the value of the emirate for companies seeking global expansion. “We remain dedicated to contributing to the objectives of the Dubai Economic Agenda (D33), with a primary focus on attracting foreign direct investments in both traditional and emerging sectors.”
Dubai International Chamber successfully attracted 104 SMEs to the emirate during 2023, achieving a remarkable year-on-year (YoY) growth rate of 550%. This impressive increase reflects the chamber’s continued contribution to achieving the goals of the Dubai Economic Agenda (D33), which aims to double the size of the emirate’s economy over the next decade and consolidate Dubai’s position among the top three global cities.
The total number of international representative offices operated by the Dubai International Chamber currently stands at 31 following the launch of 16 new offices in 2023. This growing network is part of the ‘Global Dubai’ initiative, which seeks to establish 50 representative offices around the world by 2030 to support efforts to attract international investments and companies to Dubai.
News source: Dubai Press Office
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