Dubai Chambers has revealed plans to establish new country-specific business councils operating in the emirate.
The plan would expand the roles of the councils to boost Dubai’s non-oil foreign trade. It would also create new channels of economic cooperation between business communities in the emirate and global markets. Dubai Media Office reported
.@DubaiChambers has unveiled new plans to establish new country-specific business councils #Dubai and expand its roles to support ongoing efforts to boost Dubai’s non-oil foreign tradehttps://t.co/iNyB7srRca pic.twitter.com/8IVlP7TKIq
— Dubai Media Office (@DXBMediaOffice) November 27, 2022
“We are launching a comprehensive new framework that will restructure and expand the role of business councils in Dubai to boost its foreign trade and promote cross-border business opportunities for member companies,” said Abdul Aziz Al Ghurair, chairman of Dubai Chambers.
“These boards will cover markets of strategic importance to Dubai and support us as we further expand our presence in Africa, Latin America and the Middle East and attract more business and investment from these regions,” he added.
He encouraged existing business councils to take advantage of Dubai International Chamber’s network of international offices, operate more effectively and provide their members with access to local and global growth opportunities.
Dubai Chambers would organize a special forum next year to involve members of business councils as well as representatives of embassies, consulates and commercial and foreign trade offices operating in the UAE.
Meanwhile, Juma Mohammed Al Kait, Assistant Undersecretary of the International Trade Sector of the UAE Ministry of Economy, added that the UAE is building a modern economy as a global hub for foreign trade and investment in accordance with the government aiming to double the size of the economy from Dhs1. .4tn to Dhs3tn by 2030.
“The UAE is ready, more than ever, to do business with the world and form mutually beneficial partnerships that promise a brighter and better future for all,” Al Kait noted. The country is also attracting a new generation of foreign direct investment to accelerate our industrial innovation ambitions, he added.
“We welcome all forms of capital, technological and financial,” said Al Kait, who identified healthcare, education, agritech, food production, fintech, financial services and technologies advanced as key target sectors for FDI.