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Dubai Chamber Records 69% Rise in New Members

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The Dubai Chamber of Commerce, one of three chambers operating under Dubai Chambers, has revealed that over 27,100 new companies have joined in the first eight months of 2022.

Year over year, the number of new companies increased by 69 percent, bringing the total membership to over 314,000. Between January and August 2022, member exports and re-exports increased by more than 20% year on year, totaling Dhs177 billion.

The chamber issued over 476,000 certificates of origin between January and August 2022, representing a 9.8 percent increase over the same period last year.

The growth, according to Abdul Aziz Al Ghurair, chairman of Dubai Chambers, reflects the positive impact of Dubai Chambers’ specialized approach to assisting member companies with global expansion and improving the ease of doing business in Dubai.

A total of 2,674 ATA Carnets were also issued by the chamber and received by the UAE, with a total value of Dhs1.33 billion. According to a statement, ATA Carnets are international customs documents that allow the temporary import of goods for a period of one year without any fees or taxes. Meanwhile, the chamber processed over 642,000 electronic transactions, an increase of 12.7% year on year following the chamber’s full digital transformation.

After obtaining the “100% Paperless Stamp” from the Dubai Digital Authority, the Dubai Chamber of Commerce saved Dhs11 million in costs while saving one million sheets of paper by 2021.

Legislation to create a new legal framework for Dubai Chambers and their board of directors was approved earlier this year.

Under the new structure, three chambers of commerce operate under Dubai Chambers: the Dubai Chamber of Commerce, the Dubai International Chamber, and the Dubai Chamber of Digital Economy.

Last month, Dubai Chambers announced that its president and CEO, Hamad Buamim, would step down after 16 years of service.

 

 

Source : gulfbusiness

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