Dubai Chamber sees membership numbers soar during Q1

A total of 6,377 new companies joined Dubai Chamber of Commerce and Industry in the first four months of 2019
Dubai Chamber sees membership numbers soar during Q1
Hamad Buamim, president and CEO of Dubai Chamber of Commerce and Industry.
By Sam Bridge
Tue 28 May 2019 01:49 PM

A total of 6,377 new companies joined Dubai Chamber of Commerce and Industry in the first four months of 2019, bringing membership growth to 20 percent compared to the same period last year.

The number of renewed members reached 39,338 between January and April, marking a year-on-year increase of 3.3 percent, the Chamber said in a statement.

Over the same period, the number of ATA Carnets, often referred to as a "passport for goods", issued and received grew 15.3 percent to reach 2,439, while the value of goods for issued and received ATA Carnets rose 64.9 percent to AED1.83 billion.

A total of 78 ATA Carnets were issued in the first four months of 2019, accounting for a 32.2 percent growth rate compared to the same period in 2018, while the value of good covered by these documents surged 107.1 percent to AED53.5 million over the same period.

Hamad Buamim, president and CEO of Dubai Chamber of Commerce and Industry, described the membership growth as an indicator of the growing confidence within Dubai’s business community.

"Despite global challenges, Dubai is proving to be the capital of business and a major destination for foreign investments. The growth in membership and the number of ATA Carnets in the first four months of 2019 is a positive sign that our efforts to enhance the competitiveness of the private sector are bearing fruit," he said.

"We will continue to build on this progress and examine new ways to attract companies to Dubai and develop new services and solutions that meet the evolving needs of the business community.”

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