Latest news with #Lootah
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
Time of India
22-05-2025
- Business
- Time of India
Indian investments in Dubai up after CEPA: President and CEO, Dubai Chambers
The India-UAE Comprehensive Economic Partnership Agreement (CEPA) has led to a rise in Indian investments in Dubai across sectors such as software and IT services, consumer products, business services, food and beverages, and real estate, fuelled by the agreement's trade facilitation measures and streamlined regulatory environment, Mohammad Ali Rashed Lootah, president and CEO of Dubai Chambers said. "Since the CEPA between India and the UAE came into effect, we have observed a significant increase in Indian business activity across multiple sectors. Trading, logistics, and manufacturing are among the key growth areas directly benefiting from the tariff reductions and streamlined trade procedures facilitated by the agreement," he said. The CEPA came into effect on May 1, 2022. The UAE is India's third largest trading partner. India's goods exports to the UAE in April-February FY25 were $33.23 billion and imports were $55.74 billion. "There is a vast potential for collaboration for India and in areas such as artificial intelligence, e-commerce, specialised healthcare, and advanced manufacturing," Lootah said, adding that India's foreign direct investment (FDI) into Dubai reached $4.1 billion in 2020-2024. "Beyond these well-established sectors, India's strong presence and expertise within the IT and technology fields ensure powerful synergies between our markets," he added. For Dubai, he said the top sectors for investments in India include transportation and warehousing, business services, real estate, software and IT services and financial services.
Mid East Info
13-05-2025
- Business
- Mid East Info
Dubai Chambers showcases Dubai's investment opportunities and competitive advantages to CEOs of 20 companies from Kazakhstan
H.E. Lootah: 'We are committed to strengthening the partnership between the business communities of Dubai and Kazakhstan in support of our shared development goals.' • Non-oil trade between Dubai and Kazakhstan achieved 43% year-over-year growth in 2024 to reach a value of AED 20 billion. • 247 new Kazakh companies from Kazakhstan joined Dubai Chamber of Commerce during 2024, bringing the total number of active member companies from Kazakhstan to 691 by the end of last year. Dubai, UAE – Dubai Chambers recently welcomed a delegation of companies from Kazakhstan led by Nursultan Shokanov, Chairman of the Regional Council of the Chamber of Entrepreneurs of Almaty, to its headquarters. The delegation was briefed on Dubai's competitive advantages, wide-ranging investment opportunities, and the potential for strengthening bilateral economic and trade relations. The visiting delegation included CEOs and senior executives from 20 Kazakh companies operating across sectors including real estate development, construction, agriculture, information technology, and education. The meeting was also attended by a group of UAE-based companies from diverse sectors to enhance bilateral trade and joint investments. A series of B2B meetings were held between members of the visiting delegation and local companies and investors. H.E. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, stated during the meeting: 'Dubai offers diverse opportunities across key sectors and serves as a platform for growth and prosperity for companies from Kazakhstan and around the world. The emirate's favourable investment environment and numerous competitive advantages support businesses in expanding regionally and globally.' His Excellency added: 'We are committed to strengthening the partnership between the business communities of Dubai and Kazakhstan in support of our shared development goals. Dubai Chambers is dedicated to supporting Kazakh companies and investors in capitalising on Dubai's dynamic business environment and forging new partnerships that will contribute to boosting bilateral trade and investment flows.' The meeting comes amid growing trade relations between Dubai and Kazakhstan, with non-oil bilateral trade achieving year-over-year growth of 43% to reach a value of AED 20 billion in 2024. Dubai's increasing appeal among Kazakh businesses and investors was also reflected in the addition of 247 new Kazakh companies as members of Dubai Chamber of Commerce in 2024. This brought the total number of active members from Kazakhstan to 691 by the end of the year, representing a 34.4% increase compared to 2023. As part of ongoing efforts to strengthen economic ties and support the growth of trade and investment relations between the business communities in both markets, Dubai International Chamber opened a new international representative office in Almaty in 2024. The office plays a key role in supporting the Kazakh business community and attracting companies and investors from Kazakhstan and Central Asia to Dubai.
Hi Dubai
09-05-2025
- Automotive
- Hi Dubai
RTA Launches Major Road Marking Renewal Across 89 Locations
Dubai's Roads and Transport Authority (RTA) has launched a large-scale project to renew road markings at 89 locations across the city, reinforcing its commitment to road safety and infrastructure excellence under its 2025 Preventive Maintenance Plan. The initiative spans highways, main roads, residential streets, and key intersections. It includes re-striping 50 major roads—such as Sheikh Zayed bin Hamdan Al Nahyan Street, First Al Khail Road, and 2nd December Street—as well as refreshing markings in 39 residential areas like Al Barsha, Al Twar, and Al Qusais Industrial Area. As part of the project, the RTA will repaint over 30,000 linear metres of road markings. The plan also includes renewing box junctions, paid parking spaces, red surfacing in speed reduction zones, and traffic-calming elements such as humps. 'The renewal of road markings is a priority under RTA's 2025 Preventive Maintenance Plan,' said Abdulla Ali Lootah, Director of Roads and Facilities Maintenance at RTA. 'This initiative supports our Traffic Safety Strategy and enhances Dubai's global standing in road safety and infrastructure.' Lootah emphasized the use of advanced technologies and premium materials to improve the durability of markings and ensure minimal disruption during the works. Comprehensive safety measures will be in place throughout the process to maintain smooth traffic flow. This renewal programme is part of RTA's broader strategy to ensure that Dubai's road network remains safe, efficient, and clearly marked for all road users. News Source: Dubai Media Office
