Dubai's International Chamber Attracts Diverse Multinational Corporations in 2023

UAE, 19 March, 2024 : Dubai International Chamber, a key entity under Dubai Chambers, announced that 50% of the Multinational Corporations (MNCs) it attracted to Dubai in 2023 were from Asia and Australia, showcasing the emirate's significance as a global trade and investment hub. The diversity of markets represented underscores the success of the chamber's international representative offices network.

Latin America and Europe each contributed 23.5% to the total MNCs attracted, while the Middle East, Eurasia, and Africa collectively accounted for 27.5%. Among the sectors, financial services led with 18%, followed by trade and logistics at 15%, and IT at 12%, with a focus on AI, blockchain, and robotics.

Retail, fashion, and travel & tourism sectors collectively comprised 9%, while manufacturing, mobility, and real estate each represented 6%. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, emphasized Dubai's appeal due to its business-friendly environment, openness, and favorable legislation.

Dubai International Chamber successfully brought in 34 MNCs in 2023, marking a 580% growth from the previous year. This growth aligns with the objectives of Dubai's Economic Agenda (D33) to double its economy's size and strengthen its global economic standing. The chamber's expanding network of 31 international representative offices, with 16 new ones launched in 2023, supports the 'Dubai Global' initiative to establish 50 offices worldwide by 2030, further boosting Dubai's attractiveness for international investments and talent.

Source : www.wam.ae