Dubai International Chamber marks 117% increase in MNCs

Dubai International Chamber attracted 157 companies in the first nine months of the year, marking a 68.8 per cent increase compared to the same period last year, including a 117 per cent increase in multinational companies (MNCs) YoY. 

It also attracted a total of 118 SMEs to Dubai in Q1-Q3 2024, a 57 per cent increase compared to the 75 that were attracted during the first nine months of 2023.

Through its international offices and diverse programmes and initiatives, Dubai International Chamber successfully supported the expansion of 75 local companies into new global markets during Q1-Q3 2024. This represents a 241 per cent YoY increase compared to the 22 companies supported during the same period last year. The chamber assisted these companies with increasing international exports or establishing a physical presence within their target markets.

The Chairman of Dubai International Chamber, Sultan Ahmed bin Sulayem, said: “These outstanding results reflect Dubai International Chamber's tireless commitment to promoting Dubai’s competitive advantages in support of the objectives of the Dubai Economic Agenda (D33). We continue to position the emirate as a top destination for foreign direct investment and a global capital for opportunity and growth.”

Bin Sulayem added: “The chamber's network of international offices showcases the lucrative opportunities Dubai offers to the global business community and assists companies in leveraging the emirate’s competitive advantages as a gateway to access promising markets. Our offices also play a vital role in helping Dubai-based companies to expand into international markets.”

During the first nine months of this year, the chamber organised two trade missions to Southeast Asia and West Africa as part of the 'New Horizons’ initiative, which enables Dubai-based companies to join trade missions to carefully selected international markets. More than 830 bilateral business meetings were organised between participating companies from Dubai and their counterparts in these markets to explore investment opportunities and joint economic partnerships. The Chamber signed four MoUs with several entities from Morocco and one with the Dakar Chamber of Commerce, Industry and Agriculture.