Dubai Chambers empowered 600 business members in legal navigation
Dubai Chambers has successfully concluded a series of legal and compliance-focused events in May, designed to empower businesses with the knowledge needed to thrive in the UAE's dynamic regulatory environment.
The events, comprising three in-person workshops and one webinar, addressed critical topics including UAE Commercial Companies Law, corporate compliance, UAE and GCC Customs Law, and Compliance Challenges on VAT & Excise Tax.
The sessions attracted significant interest, with a total of 598 participants from across the private sector.
Participants gained valuable insights and ideas on ways to reduce risks, adopt good corporate governance practices, ensure compliance with data protection regulations, customs tariff structures, Harmonised System (HS) code classification, the treatment of goods within free zones, customs valuation methodologies, customs audit procedures, and compliance strategies to overcome cross-border trade challenges within the GCC countries.
Earlier Dubai Chambers has welcomed a delegation of 60 companies from Madagascar to explore investment opportunities and potential business partnerships during the Dubai–Madagascar Business Forum, which was held today at its headquarters. The event reaffirmed the significance of strengthening economic ties between Dubai and Madagascar and focused on advancing cooperation across high-potential trade and investment sectors.
The forum was held in the presence of Andry Rajoelina, President of the Republic of Madagascar, who led a high-level delegation featuring ministers, senior government officials, and business leaders from Malagasy enterprises.
The delegation was received by Eng. Sultan Bin Saeed Al Mansoori, Chairman of Dubai Chambers, and Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, together with representatives from Dubai's private sector.
In his keynote address, President Rajoelina praised Dubai's remarkable global economic status and reaffirmed his country's interest in deepening bilateral relations across several priority sectors.
During his welcome address at the forum, Eng. Sultan Bin Saeed Al Mansoori, Chairman of Dubai Chambers, stated: 'The steady growth in economic ties between Dubai and Madagascar reflects our shared commitment to strengthening bilateral partnerships and exploring new opportunities for impactful cooperation that support sustainable economic growth. Meanwhile in the first week of June, Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, announced that direct Thai investments in the Emirate of Dubai have reached approximately $626 million over the past five years.
He expressed optimism that these figures will continue to grow, supported by ongoing efforts to strengthen economic relations between Dubai and Thailand, including the recent opening of a new Dubai International Chamber representative office in the Thai capital, Bangkok.
In statements to the Emirates News Agency (WAM) during the 'Doing Business with Thailand' forum held on the 29th May, part of Dubai Chambers' trade mission to the Philippines and Thailand, Lootah stated that the new office is part of the Dubai Chamber of Commerce's 'New Horizons' trade mission to Southeast Asia.
He described it as a strategic move to enhance the UAE business community's presence in the Thai market and to expand trade and investment opportunities with this dynamic economy.
Lootah said that Thailand is among Dubai's leading trading partners in the ASEAN region. 'Through this on-ground presence, we aim to deepen ties with the private sector and strengthen collaboration between the two sides,' he said.
He also noted a significant increase in non-oil trade between Dubai and Thailand in recent years, which grew by 23 per cent to $6.5 billion in 2024, up from approximately $5.3 billion in 2023. This reflects the growing momentum in bilateral economic ties and underlines the strategic importance of the Thai market within Dubai Chambers' global expansion plans.
The Bangkok office launch coincided with the trade mission and included 20 Emirati companies, which were introduced to Thailand's investment environment and market opportunities, with the aim of boosting commercial ties and supporting the international expansion plans of UAE businesses.
Lootah emphasised that the Bangkok office is the latest addition to Dubai Chambers' expanding network of international offices, which aligns with the chamber's strategy to open 50 representative offices worldwide by 2030. This effort is intended to support Dubai's goals of broadening its foreign trade and cementing its position as a global hub for commerce and investment.
He also reaffirmed Dubai Chambers' commitment to enabling local companies to access global markets and forge strategic partnerships that align with Dubai's economic vision and support the sustainability and growth of its key sectors.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Al Etihad
3 hours ago
- Al Etihad
UAE premier strategic partner: French Trade Minister
20 June 2025 17:43 PARIS (WAM)Laurent Saint-Martin, France's Delegate Minister for Foreign Trade and French Nationals Abroad, said that the UAE holds a top-tier position in France's economic and trade policy in the Gulf region. He emphasised the depth and distinction of bilateral relations, particularly on the economic and diplomatic statements to the Emirates News Agency (WAM), on the sidelines of the 'Vision Golfe 2025', organised by the French government at the headquarters of the Ministries of Economy and Finance in Paris, Minister Laurent Saint-Martin praised the exceptional momentum in the UAE-France partnership and called for elevating cooperation to new levels, especially in industry, renewable energy, digital economy, and innovation.'The UAE is undoubtedly a priority for France among Gulf nations,' said the minister. 'It is not only a key regional and economic force, but also a modern, dynamic development model that aligns with our vision for future international relations, rooted in innovation, sustainability, and openness.'He added that France seeks to strengthen partnerships with countries that share its strategic outlook and values, stating that the UAE stands out as an ideal partner in this economic ties, Minister Saint-Martin noted that France has maintained one of the oldest and most solid records of trade and investment relations with the UAE in the Gulf region. These ties, he said, are built not on chance or temporary alliances, but on mutual trust, understanding, and long-term respect.'We have worked with the UAE for decades, and we take pride in what our companies have achieved in the Emirati market,' he said. 'Today, we have a real opportunity to expand this cooperation in line with global economic shifts, through innovation-driven, high-quality partnerships.'He urged the business communities in both countries to seize the current momentum and strengthen ties between Emirati and French companies, particularly in advanced technologies, artificial intelligence, and green transformation.'We must move beyond traditional cooperation toward productive, integrated partnerships. Our companies need to collaborate more effectively and cohesively.'On the diplomatic front, Minister Saint-Martin described UAE-France relations as solid and time-tested, backed by continuous dialogue and strategic coordination on multiple fronts, both bilaterally and in international stressed that France views the UAE as a long-term strategic partner, expressing confidence that cooperation is poised to grow further amid evolving global challenges. 'We live in a fast-changing world,' he concluded, 'and global challenges, whether environmental, digital, or economic, require trusted, forward-looking partners. The UAE is undoubtedly one of the most prominent among them.'
Hi Dubai
11 hours ago
- Hi Dubai
UAE Economy Set to Grow 4.6% in 2025 as Non-Oil Sectors Drive Momentum
The UAE's economy is on track for robust growth, with the World Bank projecting a 4.6% expansion in 2025 and further strengthening to 4.9% through 2026 and 2027, driven primarily by non-oil sectors. According to the latest Gulf Economic Update , released by the World Bank based on data through June 1, non-oil industries will remain the engine of growth across the UAE, expanding by 4.9% in 2025. This performance reflects the country's ongoing efforts to diversify its economy and reduce reliance on hydrocarbons. The wider GCC region is also expected to rebound, with growth forecast at 3.2% in 2025 and rising to 4.5% in 2026. The report highlights a regional economic uptick from 0.3% in 2023 to 1.7% in 2024, fueled by strong private consumption, increased investment, and structural reforms. GCC countries are navigating global headwinds, including uncertainties around trade and the risk of a broader economic slowdown. The World Bank stresses the need for accelerated reform to bolster regional trade and economic diversification. Safaa El Tayeb El-Kogali, World Bank Director for the GCC, praised the bloc's resilience and emphasized the importance of 'strategic fiscal policies, targeted investments, and a strong focus on innovation and job creation.' The report also explores the impact of fiscal policy on stability, noting that public spending has helped shield GCC economies during downturns. A one-unit rise in fiscal spending can lift non-oil output by up to 0.45 units, underscoring the importance of smart budget strategies amid fluctuating oil prices. News Source: Emirates News Agency
Hi Dubai
11 hours ago
- Hi Dubai
Global FDI Rose 4% in 2024 to $1.5 Trillion: UNCTAD
Global foreign direct investment (FDI) dropped 11 percent in 2024, marking the second year of decline and underscoring growing concerns over volatility and fragmentation in international capital flows, according to the United Nations Conference on Trade and Development (UNCTAD). Released Thursday in Geneva, UNCTAD's World Investment Report 2025 noted that despite a 4 percent rise in global FDI to $1.5 trillion last year, the increase was driven largely by transient financial flows through European investment hubs — masking underlying weaknesses in long-term investment trends. The report warned that geopolitical tensions, trade fragmentation, and intensifying industrial policy competition are reshaping the global investment landscape, eroding investor confidence and deepening disparities between developed and developing markets. Developed economies saw FDI fall sharply by 22 percent, with Europe experiencing a dramatic 58 percent plunge. North America stood out with a 23 percent rise, led by inflows into the United States. FDI to developing countries held relatively steady. Asia remained the top recipient despite a slight 3 percent decline, while Southeast Asia posted a 10 percent rise. Africa recorded a 75 percent surge, primarily due to a major project in Egypt, while Latin America and the Caribbean saw a 12 percent drop. In the Middle East, investment remained strong, bolstered by Gulf nations' economic diversification initiatives. Structurally vulnerable economies showed mixed results: FDI rose in least developed countries and small island states but fell in landlocked developing nations. UNCTAD emphasized the need to reform global investment frameworks to support sustainable development, ahead of the upcoming Fourth International Conference on Financing for Development, where world leaders will address growing financing gaps. News Source: Emirates News Agency
