Dubai Chambers plays important role in emirate's success, Sheikh Hamdan says

Crown Prince highlights need to promote competitive environment for investment in emirate

Crown Prince of Dubai and Chairman of the Board of Trustees of the Dubai Future Foundation (DFF) His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum. Courtesy Dubai Media Office
Powered by automated translation

Dubai Chambers plays a crucial role in the success of the emirate’s future in the field of digital economy and technological investment, Sheikh Hamdan bin Mohammed, Crown Prince of Dubai and Chairman of the Executive Council of Dubai, has said.

"The chambers of commerce have played a significant role in Dubai's economic development … today we look forward to maximise this role in the field of digital economy, technical investments and building new global economic opportunities,” said Sheikh Hamdan, who visited Dubai Chambers on Wednesday, Dubai Media Office reported.

He toured various departments of the Dubai Chambers, during which he was briefed on plans and projects of the three chambers — Dubai Chamber of Commerce, Dubai Chamber of Digital Economy and Dubai International Chamber.

"Today, we have three chambers of commerce, we have the best business environment …” Sheikh Hamdan said.

He reviewed the plans and objectives of Dubai Chambers and emphasised the importance of promoting an attractive and competitive environment for investment that improves ease of doing business in Dubai and contributes to raising the volume of foreign trade and developing the digital economy sector.

Dubai, the commercial and tourism centre of the Middle East, has rebounded from the Covid-19 pandemic, with the tourism and property sectors driving growth.

Business activity in Dubai's non-oil private sector in May rose to its strongest level in 35 months on the back of marked growth in the emirate’s travel and tourism sector, despite rising inflationary pressure.

The headline S&P Global Dubai Purchasing Managers' Index reading climbed to 55.7 in May from 54.7 in April. A reading above the neutral 50 level indicates economic expansion, while one below points to a contraction.

During his visit, Sheikh Hamdan witnessed the signing of performance agreements for senior officials in Dubai Chambers. The agreements define the main targets and strategic projects of Dubai Chambers and outline performance indicators related to the organisation's Strategy 2040 and the future vision of the emirate.

"Our next priorities are … the sustainability of our family businesses, the development of our digital economy and access to new markets,” Sheikh Hamdan said. "All government and private entities will work as one team to achieve these priorities."

Updated: June 22, 2022, 4:57 PM