Government of Dubai Media Office : The United Arab Emirates has a clear and comprehensive vision to diversify its economy and achieve an optimal balance between its various sectors to ensure sustainability and create new business opportunities, H.E. Hamad Buamim, President and CEO of Dubai Chamber of Commerce and Industry said at a ‘Meet the CEO’ event organised by the Government of Dubai Media Office (GDMO).

Speaking at the event, Dubai Chamber’s President and CEO explained that the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, is to create a solid foundation for the post-oil era by diversifying the economy and strengthening trade.

H.E. Buamim said that analysis conducted by Dubai Chamber has projected steady growth in Dubai’s markets in 2018. Expressing his optimism about Dubai’s prospects, he noted that the emirate’s economy is expected to grow by 3-4% in the 2017-2018 period. He also highlighted Dubai’s competitive advantages, which have enabled it to attract a high volume of foreign direct investment that exceeded $3 billion in the first half of 2017.

He praised the economic vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, which has paved the way for Dubai’s transition into a diversified and resilient economy that serves as an international business hub. He pointed out that 98% of Dubai’s GDP comes from non-oil sectors, which include tourism, aviation, hospitality, retail, logistics, and financial services. He said Dubai will create new business opportunities and target new markets over the coming years.

Dubai has successfully created a roadmap for implementing the highest international standards and best practices, H.E. Buamim pointed out, adding that one of the key aims of the roadmap is driving innovation and adopting advanced technologies. The emirate, he said, has a unique business model that supports innovation-driven economic development and leverages its strategic location to serve as a bridge between markets in the East and West.

H.E. Buamim highlighted the important role of the media as a strategic partner in economic growth. The media, he said, plays a significant role in supporting Dubai’s development by raising awareness of new legislation and business opportunities and encouraging entrepreneurs to invest in new ventures.

Speaking about Dubai Chamber’s own strategy, H.E. Buamim revealed that the Chamber is working to reinforce its role as a trusted partner to Dubai’s business community and a bridge between business and government. He explained that the Chamber’s new customer-oriented strategy aims to boost competitiveness and growth in the private sector in line with Dubai Plan 2021. He added that the strategy is supported by four pillars, namely, promoting Dubai as a global business hub; creating a favorable business environment; supporting the development of business in Dubai; and becoming the best chamber in the world.

He added that the Chamber’s strategy includes various new initiatives and events that include the launch of a new award and summit that will recognise the important contribution of companies to the Dubai Plan 2021. Other initiatives include the establishment of a specialised centre for economic research and policy. He revealed that the Chamber is planning to strengthen its international presence in 2017 and 2018 by opening new representative offices in promising markets around the world, which will enable it to explore new trade and investment opportunities.

Dubai Chamber will continue to develop and expand the range of services provided to its members and the business community through its various smart applications, H.E. Buamim explained, adding that the non-profit public organisation remains committed to improving efficiency and ease in doing business in Dubai.

His comments came during the ‘Meet the CEO’ event, which is part of a series of press events organised by GDMO for leaders of prominent Dubai-based organisations. The event was attended by local, regional and international media.

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© Press Release 2017