DCCI registers 8830 new companies in first half

In the first half of 2014, the Dubai Chamber of Commerce and Industry (DCCI) has registered a substantial growth in its membership base, which the non-profit business facilitator accredits to Dubai's rising profile as a sound business destination and its attractiveness to global investors.

Between January and June, a total of 8,830 new companies joined Dubai Chamber, which can be attributed to a record number of 335 international delegation visits to the Chamber. This brought the total number of members to over 177,000. These numbers, according to a recent report on the Chamber's half-year activities, strengthened the organisation's position as one of the largest chambers of commerce in the Middle East and North Africa (Mena) region

Also, as part of its global expansion strategy in emerging markets of the world, Dubai Chamber opened its fourth international representative office in the city of Accra in Ghana and is preparing to open another two in Mozambique and Brazil soon, with the aim to open new market opportunities for its members.

Hamad Buamim, President and CEO, Dubai Chamber, said that when these international delegations come to Dubai, the Chamber highlights the advantages of doing business in Dubai and the attractive investment climate it offers. This is a crucial reason for the 8,800 new members in H1, 2015. "This rising trend in the Emirate's international profile as a leading centre of trade and finance and the global investors' confidence in Dubai's lucrative economic sectors, which are led by trade, logistics, tourism and finance, are behind the foreign companies' desire to set up base in Dubai and expand their global business activities through the Emirate,” explained Buamim.

According to Buamim, the Chamber members' half-yearly exports and re-exports reached Dhs151 billion, which reflect the robustness of the Emirate's business activities and the Chamber members' eagerness to expand and explore new markets as the membership has reached 177,000 with the members coming from 189 countries.

The rise in the new membership is expected to reach 15,000 by the end of the year, he added. Dubai Chamber's half year data shows that its members' exports and re-exports between January and June 2015 were worth Dhs151 billion compared to Dhs149 billion during the same period in 2014.

Meanwhile, the monthly total of March 2015 was the highest with Dhs28.1 billion with January registering the lowest with a value of Dhs22.6 billion.

During the same period, Dubai Chamber issued a total of 470,000 certificates of origin (COOs), compared to 445,000 COOs issued in the first half of 2014, leading to a 5.4 per cent increase. March saw the highest number of COOs issued at 85,000 with January being the slowest month at 69,000.

Dubai Chamber's half year figures also show that during this time the organisation received 355 international delegations, comprised of 1,200 delegates, including government officials and businessmen, showing a 228 per cent growth in the number of visiting delegations and a 109 per cent growth in the number of delegates compared to the same period in 2014.

At the same time, Dubai Chamber participated in 36 events around the world, in 27 cities in 24 countries, including the US, UK, France, Italy, Argentina, Belgium, Brazil, Czech Republic, Russia, Rwanda and Uganda and others, with the objective of promoting Dubai.
Source: The Gulf Today