INDUSTRY PERSPECTIVE: A global powerhouse for sustainable growth
Propelled by its innovative three-chamber model, Dubai Chambers serves as a bridge between Dubai’s dynamic private sector and its forward-thinking government, streamlining business and contributing to sustainable economic growth
As world leaders gather in Brazil’s bustling coastal metropolis of Rio de Janeiro, discussions will take place under the banner ‘Building a Just World and a Sustainable Planet’. Cooperation between nations is essential to ensure sustainable and equitable economic development. At Dubai Chambers, we remain committed to bringing this
vision to life.
In 2022, we adopted a new three-chamber model that takes an innovative approach to driving economic growth. Dubai Chamber of Commerce, Dubai International Chamber and Dubai Chamber of Digital Economy were brought under the umbrella of Dubai Chambers, each with its own brand, strategy and specialised approach. This model has attracted international trade and drawn increased levels of foreign direct investment to Dubai – but we are aiming even higher by aligning the strategic priorities of the three chambers with the goals of the Dubai Economic Agenda (D33).
A visionary blueprint for sustainable development
The D33 agenda is a bold roadmap that seeks to double the size of Dubai’s economy over the coming decade and consolidate its position among the world’s top three cities. It includes 100 transformative projects and plans to add 400 cities as key trading partners over the next 10 years. Dubai will be ranked as one of the world’s top four global financial centres, fuelled by an aggregate total of more than AED 650 billion (US$177 billion) in foreign direct investment and an annual economic contribution of AED 100 billion (US$27.2 billion) from digital transformation projects.
In addition to driving economic growth and leveraging advanced technologies, the D33 agenda places sustainability at the heart of Dubai’s rapid development and supports the UAE government’s unwavering commitment to economic diversification. This is reflected in a strong focus on investing in education, innovation and green technologies to ensure economic resilience and environmental stewardship.
Building an economy based on knowledge, innovation and future technologies is the key to shaping a better world. At Dubai Chambers, we are committed to ensuring all stakeholders are fully aligned and we believe our innovative approach can serve as a global model to advance sustainable prosperity that will elevate standards of living for all.
A prime example is the Dubai Reef project, the world’s largest marine reef development initiative. Led by the Dubai Department of Economy and Tourism with Dubai Chambers serving as a strategic partner, this ambitious project will deploy 20,000 purpose-built reef modules across waters off the coast of Dubai to create a lasting legacy by supporting fish populations and promoting sound environmental stewardship.
A year of achievements
Last year, Dubai Chamber of Commerce attracted the highest number of new members in its history, welcoming more than 67,000 new companies. This represents a year-over-year increase of 20% and brought the total number of active members to over 217,000. The chamber has played a central role in fostering public-private partnerships and enhancing Dubai’s favourable business environment by enabling companies of all sizes to have a say in policymaking through effective advocacy.
Dubai International Chamber remains instrumental in attracting multinational corporations, small and medium-sized enterprises, and global investments to the emirate. The chamber further extended its reach with the launch of 16 new international representative offices during 2023. This brought our total number of offices to 31, strengthening connections with key public sector stakeholders and business communities around the world.
Meanwhile, Dubai Chamber of Digital Economy is creating an exceptional digital ecosystem to promote future-facing sectors while maintaining a sharp focus on nurturing tomorrow’s talent. Last year, the chamber welcomed more than 1,600 startups from across the globe to Expand North Star 2023. This landmark event attracted over 33,000 attendees and 855 investors with more than US$1 trillion in assets under management.
These activities have created strong foundations that enable us to progress towards the goals outlined in the D33 agenda. I have no doubt that as the voice of the business community, Dubai Chambers will continue to empower its members to contribute to the UAE’s ambitious future.
Guided by an unwavering focus on their specialised fields, the three chambers are collectively driving the success of businesses across diverse sectors within the emirate and beyond. Their continuing impact highlights Dubai Chambers’ commitment to building bridges of cooperation between nations, as well as the power of collaboration in building a just world, a sustainable planet and equitable economic development for all. As the G20 leaders gather in Rio de Janeiro, we look forward to embracing opportunities to work together to achieve the world’s shared vision of a better tomorrow.
