Dubai sets up new group to boost $16bn automotive sector

Dubai Chamber of Commerce and Industry has announced the formation of a Car Dealers Business Group
Dubai sets up new group to boost $16bn automotive sector
The automotive industry of the UAE contributes about AED60 billion to the economy.
By Sam Bridge
Fri 31 May 2019 12:50 AM

Dubai Chamber of Commerce and Industry has announced the formation of a Car Dealers Business Group to build on the AED60 billion that the automotive industry contributes to the UAE economy.

The new group aims to unite the voices of member companies, serve common interests, and foster public-private sector dialogue on important matters impacting the auto sector in Dubai.

It will provide a platform for companies operating in this space to voice their concerns and share their feedback on regulation impacting industry stakeholders with the support and guidance of Dubai Chamber, a statement said.

The Car Dealers Business Group is the 31st sector-focused business group to be launched under the umbrella of Dubai Chamber.

Michel Ayat, CEO of AW Rostamani Automotive Group, has been elected as chairman of the Car Dealers Business Group.

Majid Saif Al Ghurair, chairman of Dubai Chamber, described the establishment of the group as an important step in aligning the efforts of key stakeholders and boosting the sector’s competitiveness.

He said that the business group would identify key challenges facing car dealers in Dubai, work to develop innovative solutions to address such obstacles and share policy recommendations with Dubai Chamber and concerned government entities.

Ayat said: "This is a significant step towards enhancing the overall competitiveness of the UAE automotive industry as it embraces the spirit of public-private partnership to support the authorities with global best practices that will raise the standards of the automotive industry and ensure right regulations for the future.

"Additionally, with the automotive industry of the UAE, which contributes about AED60 billion to the economy, is witnessing new challenges that must be addressed through joint efforts by highlighting the common interests of dealers, consumers and the government. We look forward to building a sustainable future for the industry," he added.

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