Today: 27 August 2025
17 May 2024
2 mins read

Dubai Int’l Chamber attracts 7 big firms during Q1

Dubai International Chamber also supported the expansion of 21 local companies into new global markets during Q1 2024 through various programmes and initiatives…reports Asian Lite News

Dubai International Chamber, one of the three chambers operating under Dubai Chambers, has announced details of several notable achievements during Q1 2024 in attracting foreign direct investment to Dubai and supporting the efforts of local companies to expand into global markets, in line with the objectives of the Dubai Economic Agenda (D33).

The chamber achieved a year-over-year (YoY) growth of 48% in the number of multinational companies (MNCs) and small and medium enterprises (SMEs) it attracted to the emirate, which increased from 25 in the first quarter of 2023 to 37 during Q1 2024. This impressive increase reflects Dubai’s growing attractiveness among global investors and position as a leading destination for businesses operating across diverse sectors.

The companies attracted during the first three months of this year included eight MNCs, which increased from five in Q1 2023, representing YoY growth of 60%. A total of 29 SMEs were attracted to Dubai in Q1 2024, an increase of 45% compared to the 20 that were attracted during Q1 2023.

Dubai International Chamber also supported the expansion of 21 local companies into new global markets during Q1 2024 through various programmes and initiatives. The chamber assisted these companies with exporting to new countries, establishing their presence overseas, and engaging in joint ventures with local businesses in their target markets. The number of companies assisted with international expansion increased by 200% compared to Q1 2023’s figure of seven businesses.

Sultan Ahmed bin Sulayem, Chairman of Dubai International Chamber, commented, “We are continuing to step up our efforts to attract international companies and investors to the emirate, while advancing the expansion of local companies into promising global markets. These activities form a key part of our drive to contribute to advancing sustainable development and achieving the objectives of the Dubai Economic Agenda (D33).”

He added, “The chamber’s growing network of 31 international representative offices plays a central role in promoting Dubai as an ideal city for global talent, high-net-worth individuals, and companies of all sizes across diverse sectors. Our offices are central to our plans to consolidate Dubai’s position as a leading global destination for foreign direct investments and a launchpad for expansion into new markets worldwide.”

ALSO READ: Sheikh Mohammed meets Kuwait PM in Manama

Previous Story

ADX gained Dh7 billion fuelled by bank stocks

Next Story

UAE sending flood aid to Brazil

Latest from -Top News

ADNOC signs 15-year LNG deal with Indian Oil

Under the deal, LNG cargoes can be delivered to any port across India, enhancing the country’s energy security and meeting its rising energy demand. Abu Dhabi National Oil Company (ADNOC) has signed

Dubai’s $1m AI film prize shocker

Dubai to Host 4th 1 Billion Followers Summit with $1 Million AI Film Prize and Expanded Global Agenda Dubai will host the fourth edition of the 1 Billion Followers Summit, the world’s

UN hears Gaza distress call – Can they act?

The United Nations Security Council will hold its monthly open session on Wednesday to discuss the worsening situation in the Middle East, with the ongoing conflict in Gaza expected to dominate proceedings.

German minister forced into shelter in Israel

Reem Alabali-Radovan currently on a visit to Israel and the wider region, was caught in the latest escalation as sirens sounded across parts of the country. Germany’s Development Minister, Reem Alabali-Radovan, was

Arab fury as Israel bombs Syria

Syria, the United Arab Emirates (UAE), and Jordan have strongly condemned recent Israeli military actions on Syrian territory, warning that the escalating strikes pose a grave risk to regional security. The Syrian
Go toTop

Don't Miss

UAE among top 10 in 432 global indicators

With regards its performance in the Yearbook’s four main axes:

BAPS Hindu Mandir lays first sacred stones

This ceremony coincides with the Dubai EXPO, where the BAPS