Dubai Chamber of Commerce and Industry has announced the formation of the Automotive Manufacturers Business Group, which will be tasked with developing and advancing Dubai’s automotive industry.
The organisation is the 28th sector-specific business group established under the umbrella of Dubai Chamber.
The move comes as the UAE is forecast to see 4 percent year-on-year growth in vehicle sales in 2018, while the size of the country’s automotive market is set to increase by 35 percent between 2017 and 2021, according to estimates from Dubai Chamber based on BMI Research data.
The Chamber said in a statement that it aims to protect the interests of automotive companies in Dubai, and provide a platform for industry stakeholders to collaborate.
Other objectives include establishing an open dialogue between manufacturers and authorities, assisting government entities with certification and regulation, and unifying industry standards.
Hamad Buamim, president and CEO of Dubai Chamber of Commerce and Industry, described the formation of the new business group as a positive development as it enhances the competitiveness of Dubai’s private sector.
Deesch Papke, chairman of the Automotive Manufacturers Business Group, added: “We expect a new level of collaboration between auto manufacturers and governmental agencies that will provide the intelligence and support to help propel the Middle East automotive sector to new heights.”
The Chamber has established 49 country-specific business councils and 28 sector-specific business groups.For all the latest retail news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.