A total of 6,377 new companies joined Dubai Chamber of Commerce and Industry in the first four months of 2019, bringing membership growth to 20 per cent compared to the 5,316 members accounted for in the same period last year.
The number of renewed members reached 39,338 between January and April 2019, marking a year-on-year (yoy) increase of 3.3 per cent, said a statement.
Over the same period, the number of ATA Carnets issued and received grew 15.3 per cent to reach 2,439, while the value of goods for issued and received ATA Carnets rose 64.9 per cent y-o-y to Dh1.83 billion ($498.20 million). A total of 78 ATA Carnets were issued by Chamber in the first four months of 2019, accounting for a 32.2 per cent growth rate compared to the same period in 2018, while the value of good covered by these documents surged 107.1 per cent to Dh53.5 million ($14.57 million) over the same period.
Commenting on the latest performance figures, Hamad Buamim, president and CEO of Dubai Chamber of Commerce and Industry, described the membership growth as an indicator of the confidence within Dubai’s business community, as well as the value-added services which Dubai Chamber members are benefitting from.
Buamim noted that the uptick in membership demonstrated the positive impact of the various stimulus measures that were introduced by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai over the last year, which have drastically improved ease of doing business in the emirate, adding that the golden card system recently unveiled would complement such efforts and expand the competitive advantages offered by Dubai.
“Despite global challenges, Dubai is proving to be the capital of business and a major destination for foreign investments. The growth in membership and the number of ATA Carnets in the first four months of 2019 is a positive sign that our efforts to enhance the competitiveness of the private sector are bearing fruit. We will continue to build on this progress and examine new ways to attract companies to Dubai and develop new services and solutions.”
