Dubai Chambers appoints new president and chief executive

Mohammad Lootah takes over from Hamad Buamim, who stepped down in August

Dubai Chambers' headquarters. The entity's membership at the end of August stood at 314,000. Photo: Dubai Chambers
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Dubai Chambers has appointed Mohammad Lootah as its president and chief executive, effective from October 24, it announced on Friday.

His appointment comes after Hamad Buamim, the entity's long-serving president and chief executive, stepped down from his role in August to pursue “new interests”.

Mr Lootah most recently worked at Dubai's Department of Economy and Tourism, serving as the chief executive of commercial compliance and consumer protection, as well as acting executive director of the commercial registration and licensing sector.

In his new role, Mr Lootah will lead the chambers in overseeing the implementation of its initiatives and strategic plans, it said in a statement.

“The appointment of a new president and chief executive will add to the chambers’ creative capacities and bring in new leadership, capable of setting policies and implementing strategic plans,” said AbdulAziz Al Ghurair, chairman of Dubai Chambers.

“This calls for us to work as a team and channel all resources and efforts towards proactively setting and achieving the long-term economic goals of the emirate of Dubai.”

In June last year, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, approved the restructuring of the chamber into three separate entities — the Dubai Chamber of Commerce, Dubai Chamber of Digital Economy and Dubai International Chamber.

The move mandates the three chambers to boost international trade, advance the digital economy, protect the interests of entrepreneurs and business owners, and support Dubai's ambition to establish “the world's best economic ecosystem”.

More than 27,100 companies joined the chambers in the first eight months of this year, marking a 69 per cent annual increase, the entity said last week.

Its total membership at the end of August stood at 314,000, up from about 270,000 at the end of 2021.

Exports and re-exports of member companies also rose more than 20 per cent annually in the January to August period to Dh177 billion ($48.19bn).

“Dubai Chambers enjoys a reputable position within the local and international business communities," Mr Lootah said.

"I look forward to continuing on this successful path and working with all teams to safeguard the achievements and progress that have been made so far, and to pave the way for more accomplishments in the future.”

Updated: September 23, 2022, 2:41 PM