Dubai International Chamber’s board of directors has approved a new strategy for the next three years, which aims to strengthen Dubai’s position as a global trade hub.
The strategy also sets out plans to attract multinational companies to the emirate and support local companies with international expansion.
During a virtual meeting, the board also approved Dubai International Chamber’s budget for the current year and discussed the priorities and plans outlined under its three-year vision.
The new strategy focuses on attracting 50 multinational companies to Dubai within three years and supports the external expansion of another 100 companies from Dubai to priority foreign markets within two years.
The move aims to improve the business environment in Dubai and make it conducive to business growth with a focus on multinational companies, a statement said.
It will also support and motivate multinational companies to list on the Dubai Financial Market.
Sultan bin Sulayem, chairman of Dubai International Chamber, said the new strategy supports the five-year plan announced by Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai to boost Dubai’s non-oil foreign trade to AED2 trillion.
He added that the plan, once implemented, woudl elevate Dubai’s position in the global arena and expand the emirate’s trade partnerships with promising markets around the world.
Bin Sulayem revealed that 30 target markets have been identified under the strategy adopted by Dubai International Chamber, which offer huge economic potential.
Dubai International Chamber was established to strengthen partnerships with global corporations, investors and entrepreneurs and boost Dubai’s status as a major trade hub.
It was established under the directives of Sheikh Mohammed as part of a recent government restructuring that aims to drive a comprehensive economic development in Dubai.
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