Dubai Chamber of Commerce welcomes 15,366 new member companies in Q1 2023

Image credit: WAM

Dubai Chamber of Commerce has announced details of the milestones it achieved during Q1 2023.

The chamber revealed that a total of 15,366 new member companies registered with it during the first three months of the year.

This represents a record growth of 48.7 per cent compared to the same period last year.

Abdul Aziz Al Ghurair, chairman of Dubai Chambers, said: “Our primary focus at Dubai Chambers is to achieve the strategic priorities we have set as part of our strategy for the 2022-2024 period. Shaping the future requires concerted efforts and a unified vision to achieve the goals needed for the stages ahead.”

Dubai Chamber of Commerce performance highlights

The total value of exports and re-exports reported by members of Dubai Chamber of Commerce reached Dhs71.7bn during Q1 2023, around 17.3 per cent higher than the Dhs61.1bn recorded in Q1 2022.

The chamber issued 182,266 ‘Certificates of Origin’ during the first quarter of 2023, achieving annual growth of around 2 per cent compared with the same period last year. In addition, 1,527 ATA carnets (import and export documents) worth Dhs1.1b were issued and received in Q1 2023.

Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers, stated: “Dubai Chambers remains committed to supporting the private sector and enhancing its competitiveness to achieve our wise leadership’s vision and strengthen partnerships between the public and private sectors.”

The first quarter also saw Dubai Chamber of Commerce achieve its goal of establishing more than 100 business groups representing various sectors and economic activities in the emirate.

.@DxbChamberComm – Impressive Q1 2023 Results

New members
15,366 new companies
48.7% increase compared to the same period of 2022

Members’ exports and re-exports
Value: AED71.7 billion
17.3% increase compared to the same period of 2022

Results are in line with Dubai’s… pic.twitter.com/CXpvRMXqQ6

— Dubai Media Office (@DXBMediaOffice) June 5, 2023

The business groups seek to enhance the private sector’s contribution towards drafting policies and legislation related to the local business environment. Currently, there are a total of 105 business groups.

The chamber reviewed more than 32 laws and draft laws during the first three months of the year as part of its efforts to protect the interests of the business community, and also received 18 cases for mediation.

Lootah also revealed that the chamber will launch numerous new initiatives in line with the chambers’ strategic priorities.

Dubai Chamber of Commerce also launched the Business Sectors Platform.

The new platform offers an innovative package of quality services designed specifically to meet the needs of business groups and business councils to enable them to operate effectively to achieve their aims.