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17 April 2024

Dubai Chamber of Commerce hosts first quarterly meeting of Business Groups and Councils for 2024

By E247

Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has successfully hosted its first quarterly roundtable meeting for Business Groups and Business Councils of 2024. The meeting provided a valuable platform to explore ways to enhance the private sector’s contribution to efforts to improve Dubai’s dynamic business environment.

Participants learned more about the chamber’s various programmes and initiatives aimed at supporting the interests of the business community, with a focus on developing greater cooperation between the public and private sectors to enhance the competitiveness of the local economy and drive sustainable growth. The session also presented updates on the chamber’s most significant achievements in 2023. Last year saw Dubai Chamber of Commerce attract the highest number of new members in its history, as well as achieve strong growth in the number of active members and the value of members’ exports and re-exports.

A total of 76 new Business Groups were launched during 2023 to represent the interests of diverse sectors and economic activities, bringing the total number of Business Groups under the chambers’ umbrella to 105. In addition, 47 country-specific Business Councils currently represent the interests of businesses and investors from various international markets. Last year, a total of 145 meetings were held with Business Groups and Councils. In addition, 111 laws and draft laws were reviewed in cooperation with Business Groups, with the resulting recommendations achieving an adoption rate of 53%.

The event concluded with an open discussion on the needs of businesses that explored ways to overcome challenges and leverage emerging opportunities, underlining the pivotal role played by Business Groups and Councils in strengthening Dubai’s economic landscape.

His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “Business Groups and Councils play a key role in driving effective advocacy, fostering connections, and ensuring seamless cooperation between the private sector and the government to achieve their shared goals. These groups create a vital platform for businesses to share best practices and collaborate on initiatives that enhance Dubai's position as a leading global business hub.”

His Excellency added: “Actively engaging in constructive dialogue with the private sector through Business Groups and Councils helps to ensure the interests of all economic sectors are addressed, contributing to a dynamic investment environment that unlocks opportunities in diverse areas.”

Advancing the interests of the business community is among Dubai Chamber of Commerce’s top strategic priorities. The chamber aims to increase private sector participation in driving economic competitiveness by enhancing the role of business groups in developing regulatory frameworks across all sectors.

Sector-specific Business Groups and country-specific Business Councils seek to ensure the representation of diverse business and economic sectors and are fundamental in facilitating productive dialogue between private sector stakeholders and government entities. Through their activities, these bodies work to enhance Dubai’s favourable business environment and drive the sustainable success of their members.