Dubai Chamber welcomes 16k+ firms in 2020 despite pandemic
The Dubai Chamber of Commerce and Industry added over 16,000 new member companies in 2020 as the organisation responded to new challenges posed by the pandemic by increasing its digital services for the business community.
The value of exports and re-exports of its members amounted to Dh185 billion and a total of 632,436 certificates of origin were issued, the Dubai Chamber said in its annual report released on Saturday.
Last year’s numbers are still very positive considering the Covid-19 pandemic. In 2019, a total of 18,260 new companies had joined Dubai while exports reached Dh226 billion.
Meanwhile, 2,914 ATA Carnets worth Dh3.3 billion were issued and received by the Dubai Chamber. The ATA Carnet system is managed by the Dubai Chamber in cooperation with Dubai Customs, facilitating the temporary entry of imports to Dubai.
In 2020, the Dubai Chamber made 98 per cent of its core services available online.
Hamad Buamim, president and CEO of the Dubai Chamber, credited the entity’s positive performance and various achievements in 2020 to a number of important factors such as proactive communication, leadership, innovation, digital preparedness and close public-private sector cooperation, which helped the organisation overcome unprecedented challenges and guide the business community through various stages of the pandemic.
“The Dubai Chamber remains fully committed to supporting businesses in Dubai as they adapt to a new reality and providing access to new growth opportunities at home and abroad,” Buamim added.
Though the first half of last year was
The Dubai Chamber remains fully committed to supporting businesses in Dubai as they adapt to a new reality and providing access to new growth opportunities at home and abroad
Hamad Buamim President and CEO of the Dubai Chamber
very challenging for the overall economy, it shifted to recovery mode with the easing of lockdowns and reopening of the economy in the second half.
The Dubai Chamber processed more than 659,000 e-transactions during the year, with more than 78 per cent of customers having to wait less than five minutes to be served.
Importantly, it unveiled plans to get 50,000 local businesses online by listing them on Google My Business and train them in digital marketing. This initiative has helped 100,000 businesses across the UAE get verified over the last two years.
The Dubai Chamber’s 11 international offices held 2,388 virtual meetings in 2020 and engaged with 3,652 business leaders who are keen to enter the Dubai market.
The organisation’s legal services department received 334 mediation cases, 148 of which were settled amicably, while the Dubai International Arbitration Centre received 230 cases in 2020.
In line with its role as the voice of the business community, the Dubai Chamber reviewed 62 draft local and federal laws and ministerial decisions during the year 2020, with the aim of ensuring a favourable business environment.
A total of 2,166 entrepreneurs benefited from Dubai Startup Hub programmes in 2020, 19 per cent of which were Emiratis.