August 1, 2021

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Emirates News Agency – Mohamed bin Rashid approves new structure of Dubai Chambers to bring about Emirates’ economic transformation

Dubai, June 26, 2021 (WAM) – His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, on Sunday approved the new structure of the Board of Directors of Dubai Chambers. Boost Dubai’s economic transformation and transform the city into a global business hub.

We have approved the new structure of three Dubai chambers, the Dubai Chamber of Commerce and Industry, the Dubai Digital Economy Chamber and the Dubai International Chamber. His Highness Sheikh Mohammed bin Rashid said, “It is a new model to promote Dubai’s economic transformation and to make the city a global business hub.”

We have approved the Comprehensive Dubai Chamber of Directors Committee, which oversees and coordinates the 3 chamber efforts as part of a common vision and proposes mega initiatives to improve Dubai’s economy, thereby creating a strong business environment. ” ‘The three new rooms have a historic responsibility to promote our international trade, promote our digital economy, protect the interests of entrepreneurs and business owners, and support the Dubai government in building the world’s best economic ecosystem. He added.

Regarding the Dubai International Room Action Plan, His Highness said: “We expect members to be effectively involved in the implementation of UAE foreign trade, which aims to bring our trade external value to AED2 trillion in five years. “The Dubai International Room project targets 30 overseas markets. ”

Last year, Dubai’s foreign trade was AED 1.18 billion. 45 large multinationals were registered in the room.

Abdel Aziz Al Qurair will chair the new 12-member Dubai House Board of Directors.

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Founded in 1965 with just 450 members, Dubai House topped the list with 245,000 members in 2019, with 23 business groups and 41 trade councils representing their countries.

According to the latest figures, the digital economy contributes 4.3% or AED100 billion to the UAE’s GDP. The UAE has more than 1,400 start-ups with a total value of $ 90 billion. There are 90 digital sector investment funds and 12 business incubators in the UAE.

In March, His Highness approved the renovation of Dubai rooms and the establishment of three new trading rooms: the Dubai Chamber, the Dubai International Room and the Dubai Digital Economy Room. These new rooms are key engines in establishing new sectors in the city and strengthening Dubai’s role in world trade.

Sheikh Mohammed bin Rashid Al Maktoum said at the time: “The Dubai International Chamber and Chamber of Commerce, Digital Economy, which seeks to support the interests of international companies established in Dubai, will establish three new trading rooms in Dubai that seek to use future technological trends to promote growth and innovation.”

The Board of Directors of the Dubai Chambers is chaired by Abdel Aziz Al Qurayr, with its members: Omar Al Futtaim, Khalid Zuma Al Majid and Raja Al Gurq. The group also includes Omar Sultan Al Olama, chairman of the Dubai Chamber of Digital Economy, and Sultan Ahmed Ben Sulayam, chairman of the Dubai International Chamber of Commerce and Patti Saeed Al Kindi, Hilal Saeed Al Marri. Faisal Zuma Belhoul, Patrick Salhoob, Kazan Al Gibsi, Dr. Amina Al Rostamani and Hussein Abdulrahman Kansaheb.

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Sheikh Mohammed bin Rashid Al Maktoum added: “Members of the new chambers in Dubai will advance our strategy to realize our future economic vision. We look forward to great regional and international achievements next year. Phase.”

The Dubai International Room will represent and support the interests of local businesses with international reserves and Dubai-based international businesses. The new room aims to enhance Dubai’s foreign trade and strengthen its position as an international trade hub. It will support Dubai’s vision of expanding into new global markets, fostering economic partnerships and helping local businesses achieve global success, while attracting talents and investors from around the world to make their dreams come true in Dubai.

Members of the Dubai International Room will be businessmen, entrepreneurs and investors.

As part of its efforts to create the world’s best digital infrastructure and transform Dubai into an international technology hub, the Dubai Digital Economic Room aims to launch projects and develop research into the new economy of the future.

The new room will network with local and international technology entrepreneurs and investment funds, with the aim of enhancing the interests of technology companies and enhancing the role of the digital economy in the United States. He will also contribute to the promotion of law in Dubai and the United Arab Emirates to create an attractive environment for the growth of the digital economy. Chamber members include entrepreneurs and technology investors.

The new structure is part of a broader effort to develop the UAE’s digital economy and establish global manufacturing partnerships, as well as increase the growth potential of Dubai – based international businesses.

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As part of efforts to strengthen the role of this key sector as a key engine of the Dubai economy, the Council approved a five-year foreign trade plan for Dubai.

New plans and procedures will be developed to support Dubai’s business and further enhance the attractiveness of its business environment. With a particular emphasis on foreign trade in high-growth markets including Latin America, Africa and Asia, the five-year plan will strengthen Dubai’s position as an international trade hub.

The project will help boost the future growth of Dubai’s foreign trade and create competitive investment benefits and facilities for businesses.

“Our vision is determined for the future. Our resolutions are in line with our plan’s ambition to be the heart of world trade. With our strong determination and hope, the future will be bright,” Sheikh Mohammed said.

Translated by: Kihane Pawsi.

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