Increased investor confidence in the business environment in the emirate

Dubai business leaders' expectations for the third quarter, the highest in 7 years

The wheel of the economy continues to spin in Dubai, despite the challenges of the pandemic.

archival

Sameh Awadallah À Dubai

The Dubai Chamber of Commerce and Industry reported that the recovery of Dubai's economy is on the right track, as the Chamber's quarterly survey of business leaders' expectations in the emirate, for the third quarter of this year, recorded the highest percentage since 2014 (seven years) in the confidence of business leaders in the work environment in Dubai, and their expectations of improving conditions and conditions Business during this quarter, in a clear indication of the positive investment climate for the business community in Dubai, and the increased confidence of investors in the business environment in the emirate.

Increase confidence

And 66% of the business leaders participating in the survey expected an improvement in business conditions and conditions in the third quarter of 2021, compared to 51% recorded in the second quarter of 2021, while business leaders’ confidence in the work environment increased and registered 66% as well, compared to 48% recorded during The second quarter of this year.

The reason for these positive expectations, which returned to levels not seen in the quarterly chamber surveys since the last quarter of 2014, is due to the recovery of domestic demand, as a result of intensive national vaccination campaigns, as well as the continuous recovery in oil prices, as the expectations of business leaders for the third quarter of The year is historically low, due to summer and vacation factors.

real indicator

The Director General of the Dubai Chamber, Hamad Buamim, confirmed that the improvement in investor confidence for the third quarter, which is known for the decline in commercial activity and consumer demand as a result of summer vacations, is a real indication of the reality of the business environment in the emirate, which succeeded in reducing the repercussions of the pandemic, as it was the distinguished government role, and economic stimulus packages And the continuous vaccination campaigns, the greatest impact on enhancing the confidence of investors and business leaders, and it is a message to all investors around the world, that the wheel of the economy continues to spin in Dubai, despite the challenges of the pandemic.

optimism

The results of the survey showed that the improvement in the business outlook came from small and medium-sized companies that were more optimistic about the recovery of the local market, compared to large companies serving regional and global markets.

Despite the general optimism, business leaders indicated that there are some factors that negatively affect their expectations, including debt collection, late payments, strong price competition, and the high cost of raw materials.

strategic partnership

The Director General of the Dubai Chamber, Hamad Buamim, said that the positive expectations of the private sector in Dubai show the important role it plays in the sustainability and competitiveness of the emirate's economy, considering that the partnership between the public and private sectors is a strategic partnership that has significant repercussions on commercial and economic activity in Dubai.

• The recovery of domestic demand as a result of the intensive national vaccination campaigns.

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