67% growth in the number of new members... and exports amounting to 227 billion dirhams

Dubai Chamber of Commerce: 27,89 thousand new companies during 2021

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The Dubai Chamber of Commerce revealed that it achieved a significant growth in 2021 in the number of new members, amounting to 66.8% compared to 2020, with 27,896 new companies joining the Chamber’s membership, raising the total number of Chamber members to more than 287,000 members, and consolidating the Chamber’s position as one of the The largest international chambers of commerce in membership number.

export value

And it stated in a statement, that the value of exports and re-exports of Dubai Chamber members amounted to 227 billion dirhams, with a growth rate of 22.7% compared to its value in 2020, which amounted to 185 billion dirhams at the time, which reflects the flexibility of Dubai merchants, and their ability to expand their trade in international markets despite challenges. Globalization in the logistics and distribution network and the restrictions of the “Covid-19” pandemic in global markets.

The Dubai Chamber of Commerce revealed that a total of 669,922 certificates of origin were issued in 2021, compared to 631,686 certificates of origin in 2020, with a growth rate of 6%.

economy recovery

Abdul Aziz Al Ghurair, Chairman of the Board of Directors of Dubai Chambers, said: “2021 was an exceptional year for the business community in Dubai, as the government’s effective measures and its management of global challenges contributed to accelerating economic growth, which led to the recovery of the economy and its main sectors, most notably retail trade, tourism and hospitality. ».

He added, "The announcement of legislative reforms and measures to support the business sector came as a culmination of efforts to attract investments and help companies in the UAE to maintain their competitiveness."

Investor confidence

Al Ghurair stressed that the successful organization of "Expo 2020 Dubai" came to contribute to enhancing the positive expectations of the business community and raising investor confidence to record levels, pointing out that "Expo 2020 Dubai" is a key catalyst for sustainable economic growth in the Emirate of Dubai.

The Chairman of the Board of Directors of Dubai Chambers pointed out that the announcement of the “50 projects” for the UAE, which included a series of qualitative development and economic initiatives in key sectors, formed the basis for the launch towards a sustainable economy and a prosperous future during the next 50 years for the UAE, and an indication of its vitality, dynamism and vision. The wise leadership and government, which enhances investor confidence in the business environment in the country.

Al Ghurair stressed that Dubai Chambers is committed in 2022 to work to enhance the competitiveness of the business community, achieve the objectives of the Dubai Foreign Trade Plan by raising its value to two trillion dirhams over the next five years, and enhance Dubai’s position as the capital of the digital economy, stressing the important role that Dubai Chambers will play. » In the coming period on various economic levels.

exceptional performance

In turn, the Director General of Dubai Chambers, Hamad Mubarak Buamim, indicated that this exceptional performance of the Dubai Chamber of Commerce during the past year came to consolidate the flexibility of the commercial performance of the emirate, and its ability to attract foreign direct investment, and to consolidate its position as the capital of the world of business and finance.

He added that the Chamber succeeded, despite global challenges, in enhancing the competitiveness of the business environment in the Emirate, by supporting business continuity and enhancing its competitiveness through a set of initiatives and smart services that supported the business community and activate the role of the private sector and its partnership with the government sector, pointing out that achieving record growth in the number of The new members and the high value of the members' exports and re-exports are two main indicators of the Chamber's outstanding performance in 2021.

Buamim continued: "While Dubai is proceeding with its development plans, the Dubai Chamber of Commerce will spare no effort in supporting companies of all kinds and sectors, and will focus its efforts to raise Dubai's position on the global stage, and support and protect the interests of the business community in the emirate."

electronic transactions

The Dubai Chamber of Commerce stated that it completed 704,408 electronic transactions during the past year, with a growth rate of 7% compared to the number in the year 2020. The Chamber also succeeded in completely digitalizing its services by 100%, and achieved its goal of adopting 100% paperless transactions by the end of 2021.

Temporary entry of goods

The number of temporary entry books for goods issued by the Chamber and received by the state reached 4,495 entry books for goods and commodities worth 4.5 billion dirhams, with a growth rate of 36% in the value of temporary entry books for goods issued and imported into the system.

Laws and issues

As part of its commitment to providing a stimulating business environment, the Chamber reviewed 52 local and federal bills and ministerial decisions during the year 2021.

And it helped the business community by providing legal assistance to settle disputes by alternative means, as it received 200 mediation cases, including 175 virtual mediation cases, while 66 cases were settled amicably.

The Dubai Chamber of Commerce received 2,983 visiting delegations, representing more than 73 countries, and met with more than 6,800 members of these delegations.

It organized more than 85 events, attended by about 15,000 participants.

Restructuring

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, approved the restructuring of the Dubai Chamber, and the formation of the three chambers: Dubai Chamber of Commerce, Dubai Chamber for Digital Economy, and Dubai International Chamber, under the umbrella of «Dubai Chambers». With the aim of supporting international trade and the digital economy through a five-year plan to increase the volume of Dubai’s foreign trade from 1.4 trillion dirhams to two trillion dirhams by 2026.

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