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24 February 2024

Dubai International Chamber discusses roadmap to achieve its strategic objectives during annual meeting of the board and Advisory Council

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By E247

Dubai International Chamber, one of the three chambers operating under the umbrella of Dubai Chambers, has successfully hosted the 2023 Engage Forum, an annual meeting that brings together the chamber’s Board of Directors and Advisory Council members to plan the chamber’s strategic roadmap for 2024.

The event served as a valuable platform for the sharing of insights and ideas to enhance the impact of the chamber's programmes and initiatives. The forum plays a vital role in steering the chamber's strategy to support the private sector in overcoming challenges and leveraging opportunities, with the goal of further enhancing the emirate’s favourable business environment and contributing to the objectives of the Dubai Economic Agenda (D33).

Addressing participants during his opening remarks, His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “Our annual Engage Forum has proven instrumental in helping us achieve our goals of supporting the international expansion of Dubai-based businesses and attracting foreign direct investment to the emirate to strengthen Dubai’s position as a leading global business hub. The chamber has achieved remarkable success in boosting inward FDI this year through a wide range of impactful programmes and initiatives. We remain committed to boosting trade and investment as part of our ongoing drive to achieve the ambitions outlined in the Dubai Economic Agenda (D33).”

The annual meeting highlighted the chamber’s key achievements and initiatives during 2023, which included attracting 15 MNCs and 77 SMEs to the emirate between January and September. The chamber has also continued to expand its reach, with the launch of 13 new international representative offices since the beginning of the year expanding its global network to 28 international offices.

Topics discussed during the forum included how to further enhance Dubai’s appeal among global investors and talent and strengthen the emirate's status as a leading hub for business, trade, and investment. The meeting also explored ways to effectively leverage economic partnerships and agreements such as the India-Middle East-Europe Economic Corridor (IMEC) and the UAE's inclusion in the BRICS group, which comes into effect in 2024.

Other areas examined included bolstering support for the global expansion of businesses from Dubai, overcoming challenges facing exporters, and accelerating the development of the emirate’s manufacturing sector. The meeting also featured a series of roundtable discussions, enabling Board Members, Advisory Council members, and the Dubai International Chamber team to explore ideas for new initiatives aimed at achieving the chamber’s strategic objectives.

Launched in 2022, the annual Engage Forum was developed to drive public-private sector dialogue and expand the role of Advisory Council members in influencing the chamber’s agenda and decision-making processes.

Dubai International Chamber plays a central role in consolidating the emirate’s status as a leading destination for foreign direct investment and a launchpad for expansion into global markets. The chamber spearheads the ‘Dubai Global’ initiative, which aims to accelerate efforts to achieve Dubai’s target of boosting non-oil foreign trade from AED 1.4 trillion to AED2 trillion by 2026.