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New 3-year strategy to strengthen Dubai's position as global trade hub

Wednesday, 9 February 2022 14:39

By ARN News Staff

@DXBMediaOffice/ Twitter

Dubai International Chamber's board of directors has approved its strategy for the next three years (2022-2024), which aims to strengthen the emirate's position as a global trade hub.

It's also focused on attracting multinational companies to Dubai and supporting local companies with international expansion.

During a virtual meeting led by Chairman, Sultan bin Sulayem, the board approved the Dubai International Chamber’s budget for the current year and discussed the priorities and plans outlined under its three-year strategy.

The new strategy focuses on attracting 50 multinational companies to the emirate within three years, supporting the external expansion of 100 companies from Dubai to priority foreign markets within two years, in addition to encouraging multinational companies to list on the Dubai Financial Market.

Bin Sulayem said the strategy supports the five-year plan announced by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to boost the emirate's non-oil foreign trade to AED2 trillion.

He added that the plan, once implemented, would elevate Dubai’s position in the global arena and expand the emirate’s trade partnerships with promising markets around the world.

He highlighted how the Dubai International Chamber is well-positioned to achieve the new trade targets announced by Sheikh Mohammed as it enjoys access to representative offices across Africa, Eurasia and Latin America.

Bin Sulayem also noted that 30 target markets have been identified under the Chamber's, which offer huge economic potential.

Dubai International Chamber was established under the directives of Sheikh Mohammed as part of a recent government restructuring that aims to drive comprehensive economic development.

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