Latest news with #DubaiChambers'
Hi Dubai
3 days ago
- Business
- Hi Dubai
Dubai Chambers Strengthens Thai Ties as Investments Hit $626 Million
Direct Thai investments in Dubai have reached around $626 million over the past five years, according to Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, who reaffirmed the Emirate's growing economic ties with Thailand during a recent trade mission to Southeast Asia. Speaking at the 'Doing Business with Thailand' forum in Bangkok on May 29, Lootah announced the launch of a new Dubai International Chamber office in the Thai capital. The move, part of Dubai Chambers' 'New Horizons' initiative, aims to deepen collaboration with Thailand's private sector and open new avenues for trade and investment. Thailand is already one of Dubai's key trading partners in the ASEAN region. Non-oil trade between the two reached $6.5 billion in 2024, marking a 23% rise from $5.3 billion in 2023. Lootah highlighted this growth as a clear sign of the strengthening economic momentum between the two sides. The opening of the Bangkok office coincided with a broader trade mission involving 20 Emirati companies exploring market opportunities in Thailand. The initiative is part of Dubai Chambers' wider plan to establish 50 international representative offices by 2030 to support the global expansion of UAE businesses and bolster Dubai's position as a commercial hub. Lootah underscored the chamber's commitment to empowering local companies to access international markets, forge strategic partnerships, and contribute to Dubai's long-term economic goals. News Source: Emirates News Agency
Gulf Today
3 days ago
- Business
- Gulf Today
Thai investments in Dubai reach $626 million over five years
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, announced that direct Thai investments in the Emirate of Dubai have reached approximately $626 million over the past five years. He expressed optimism that these figures will continue to grow, supported by ongoing efforts to strengthen economic relations between Dubai and Thailand, including the recent opening of a new Dubai International Chamber representative office in the Thai capital, Bangkok. In statements to the Emirates News Agency (WAM) during the 'Doing Business with Thailand' forum held on the 29th May, part of Dubai Chambers' trade mission to the Philippines and Thailand, Lootah stated that the new office is part of the Dubai Chamber of Commerce's 'New Horizons' trade mission to Southeast Asia. He described it as a strategic move to enhance the UAE business community's presence in the Thai market and to expand trade and investment opportunities with this dynamic economy. Lootah said that Thailand is among Dubai's leading trading partners in the ASEAN region. 'Through this on-ground presence, we aim to deepen ties with the private sector and strengthen collaboration between the two sides,' he said. He also noted a significant increase in non-oil trade between Dubai and Thailand in recent years, which grew by 23% to $6.5 billion in 2024, up from approximately $5.3 billion in 2023. This reflects the growing momentum in bilateral economic ties and underlines the strategic importance of the Thai market within Dubai Chambers' global expansion plans. The Bangkok office launch coincided with the trade mission and included 20 Emirati companies, which were introduced to Thailand's investment environment and market opportunities, with the aim of boosting commercial ties and supporting the international expansion plans of UAE businesses. Lootah emphasised that the Bangkok office is the latest addition to Dubai Chambers' expanding network of international offices, which aligns with the chamber's strategy to open 50 representative offices worldwide by 2030. This effort is intended to support Dubai's goals of broadening its foreign trade and cementing its position as a global hub for commerce and investment. He also reaffirmed Dubai Chambers' commitment to enabling local companies to access global markets and forge strategic partnerships that align with Dubai's economic vision and support the sustainability and growth of its key sectors. WAM
Hi Dubai
29-05-2025
- Business
- Hi Dubai
Dubai Chambers Welcomes 216 Filipino Businesses in Q1 2025
A surge in Filipino business activity is reshaping Dubai's commercial landscape, with 216 new Filipino companies joining the Dubai Chamber of Commerce in the first quarter of 2025 alone. This adds to more than 800 new Filipino firms registered in 2024, marking an 18% year-on-year increase. The figures were announced by Salem Al Shamsi, Vice President of International Relations at Dubai Chambers, during a trade mission to Manila from May 25 to 27. The growth, he said, reflects rising confidence in Dubai's business environment and its status as a global investment hub. Al Shamsi highlighted that direct investments from Dubai to the Philippines reached US$193 million between 2021 and 2024. In the same period, Filipino investments in Dubai totaled around US$35 million, underscoring strong two-way economic engagement. The trade mission, part of Dubai Chambers' 'New Horizons' initiative, saw participation from 17 Emirati companies across sectors including agriculture, technology, industrial security, and manufacturing. The aim: to explore new opportunities and deepen trade ties with the Philippine market. Effective B2B meetings played a key role in fostering connections, with Al Shamsi noting their value in generating partnerships and ensuring measurable results. He pointed to the Philippines' strategic location, youthful population, and economic diversification as key draws for Emirati businesses. With growing demand for Dubai's high-quality goods and services, the Philippines also offers a gateway to Southeast Asian markets. 'Trade missions like this help turn opportunities into real partnerships,' Al Shamsi said, reaffirming Dubai Chambers' commitment to supporting local businesses in expanding globally. News Source: Emirates News Agency
Hi Dubai
26-05-2025
- Business
- Hi Dubai
Dubai Chamber Establishes Brazilian Business Council to Boost Trade Ties
Dubai Chamber of Commerce has launched the Brazilian Business Council to strengthen trade and investment links between Dubai and Brazil, marking a new chapter in bilateral economic cooperation. The council, announced following its inaugural annual general meeting at Dubai Chambers' headquarters, aims to enhance collaboration between Brazilian and Dubai-based businesses, promote joint ventures, and facilitate the exchange of market insights and expertise. With Brazil emerging as a key trade partner, the move reinforces Dubai's role as a global business gateway. Non-oil trade between Dubai and Brazil surged to AED13.8 billion in 2024, a 35% rise from the previous year. Active Brazilian membership in the Dubai Chamber of Commerce also grew by 22%, reaching 364 companies by the end of the year. Maha Al Gergawi, Vice President of Business Advocacy at Dubai Chambers, said the council reflects a strategic effort to attract global investment and deepen economic ties. 'The council creates a valuable platform to explore investment opportunities and drive the sustainable growth of trade relations between Dubai and Brazil,' she noted. The Brazilian Business Council joins a network of country-specific councils under the Dubai Chamber of Commerce, each designed to facilitate cross-border collaboration and support Dubai's broader goal of becoming a leading hub for international business. News Source: Emirates News Agency
Hi Dubai
05-05-2025
- Business
- Hi Dubai
Dubai Launches Guidebook to Help Family Businesses Grow and Sustain Wealth
Dubai has launched a new guidebook aimed at strengthening the long-term success and sustainability of family businesses, a sector considered critical to the emirate's economic future. Developed through a partnership between the Dubai Department of Economy and Tourism and the Dubai Centre for Family Businesses, the guidebook outlines practical strategies for protecting wealth, navigating succession, and driving growth across generations. It was unveiled during the first session of the centre's 'Knowledge Series' initiative at Dubai Chambers' headquarters. Titled Family Businesses in the Emirate of Dubai: A Guidebook , the resource provides detailed insights into governance structures, leadership planning, digital transformation, real estate ownership, taxation, and the legal framework for registering family enterprises in Dubai. It also addresses conflict resolution, philanthropy, and government support programs. The launch event featured panel discussions focused on preserving legacy and fostering innovation, while highlighting key components of the UAE Family Business Law. Sahia Ahmad, CEO of Regulatory Policy and Governance at the Department of Economy and Tourism, said family businesses are integral to Dubai's D33 economic agenda, which targets doubling the emirate's economy by 2033. She emphasized the guidebook as part of a broader strategy to enhance Dubai's global competitiveness through policy support and strategic collaboration. Khalid AlJarwan, Vice President at Dubai Chambers, described the initiative as a step toward promoting best practices in governance and performance across family-run firms. The guidebook is expected to play a vital role in equipping family enterprises with the tools and knowledge needed to thrive in a rapidly evolving business landscape. News Source: Emirates News Agency
