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The Dubai Chamber of Commerce and Industry has been restructured as three separate entities that will now collectively be known as Dubai Chambers.
Dubai Chambers will thus be comprised of the Dubai Chamber of Commerce, Dubai Chamber of Digital Economy, and Dubai Chamber of International Trade.
A new board of directors has also been established for Dubai Chambers, which was recently approved by H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.
In a statement, the restructuring of Dubai Chambers was described as part of efforts being made to catalyze Dubai’s economic transformation and further reinforce the city’s rise as a global business hub.
“In the light of the changes sweeping across the globe, we need to adopt new business models that enable us to raise our sustainability and attain continued success,” Sheikh Mohammed said. “Deploying innovative operational frameworks and developing flexible legislations will help us foster further growth and achievement in Dubai’s economy.”
The three new chambers are thus integral to Dubai’s new drive to create a highly competitive, advanced investment environment geared for rapid growth, he noted.
“Dubai Chambers will be one of the organizations spearheading our efforts to further transform the Emirate’s business environment and enhance its position as a dynamic regional and global center for business, trade and finance,” Sheikh Mohammed added. “The members of Dubai Chambers will be active stakeholders in executing Dubai’s international trade strategy, which aims to expand our external trade to AED2 trillion in five years.”
The release noted that the newly formed Dubai Chamber of International Trade will represent and support the interests of local companies with international presence and international companies based in Dubai. It will also support Dubai’s vision to expand to new global markets, forge new economic partnerships, and support local companies in achieving global success, while also attracting promising talent and investors from across the world.
Meanwhile, the Dubai Chamber of Digital Economy has been tasked with launching projects and developing studies on the new future economy, as part of efforts to build the world’s best digital infrastructure, and transform Dubai into an international technology hub. With the objective of promoting the interests of technology companies, and advancing the role of the digital economy in the Emirate, the new chamber will build a network of relationships with local and international tech entrepreneurs and investment funds, while also helping draft legislations in Dubai and the UAE to create a growth-friendly environment for the digital economy.
Juma Al Majid was named as the Honorary Chairman of the Dubai Chamber of Commerce and Industry, while Abdulaziz Al Ghurair was appointed as its Chairman. Sultan bin Sulayem was named Chairman of the Dubai Chamber of International Trade, and H.E. Omar Al Olama was named Chairman of the Dubai Chamber of Digital Economy.
The Board of Dubai Chambers is chaired by Abdulaziz Al Ghurair, and its members include Omar Al Futtaim, Khalid Jumaa Al Majid, Rajaa Al Gurg, Omar Al Olama, Sultan bin Sulayem, Butti Saad Al Kendi, Helal Saeed Al Marri, Faisal Jumaa Belhoul, Patrick Chalhoub, Ghassan Al Kibsi, Dr. Amina Al Rustamani, and Tariq Hussain Khansaheb.