Power Letters 2022: Hamad Buamim, president and CEO, Dubai Chamber

The Covid-19 pandemic profoundly changed and redefined the way we live and conduct our businesses. The path of economic recovery has been one of resilience, hope and foresight and has reminded us that the journey we face today, as nations, can only be solved by shared, coordinated and equitable responses – and that these challenges go beyond the pandemic, from environmental concerns to ensuring long-term sustainable growth. It has also taught us that a prosperous future relies on our ability to adapt, innovate and leverage advanced technologies to address new challenges.

The fruits of our efforts are apparent in Dubai’s economic indicators, which are showing signs of strength and recovery. Dubai’s non-oil foreign trade reached Dhs722bn in the first half of 2021, marking a 31 per cent year-over-year increase, while exports alone surged 45 per cent, reflecting the emirate’s commitment to diversifying its economy. We are also witnessing the impact of Expo 2020 on various economic sectors as it further cements Dubai’s position as a land of opportunity, green economy, a global hub for innovation and a test bed for cutting-edge technologies and solutions from around the world.

Dubai Chamber, as the official business integration partner for Expo 2020 Dubai is working to attract more than 100,000 companies to Dubai to participate in the mega event. The Chamber is bringing together business communities from around the world as it hosts high-profile forums that are designed to foster economic partnerships and boost cross-border cooperation.

With more than 275,000 members, Dubai Chamber is now operating under a new three-chamber structure designed to implement a more specialised approach to supporting businesses. Dubai International Chamber is supporting ongoing efforts to boost the emirate’s trade to Dhs2 trillion over the next five years and attract multinational companies from around the world to the emirate. Dubai Chamber of Commerce continues to represent the traditional sectors, while Dubai Chamber of Digital Economy is focused on startups, as well as high-tech and innovation-focused growth sectors.

I am confident that this approach will cement Dubai’s position as a global business hub and catalyse the emirate’s economic growth and competitiveness. We will continue to explore new markets and opportunities through our trade missions, flagship events and international offices, while furthering our quest towards innovation and sustainability.

We have a lot to look forward to in 2022 as Dubai pushes ahead with a new vision and enhances its value proposition to businesses and investors. We, at Dubai Chamber, are very excited about what the future holds and the many new frontiers we will explore. We will spare no effort to ensure that 2022 is a year of new milestones that will be written in Dubai’s next chapter of growth.