The Chairman of the Dubai Chamber of Commerce and Industry, Eng. Sultan bin Saeed Al Mansoori, has confirmed that the emirate’s economy is on a steady path towards achieving a growth rate of 4% by the year 2025. This growth is driven by strong performance across several key sectors, particularly trade, tourism, logistics, and the continuous expansion of the digital economy.
He emphasized that the visionary support from His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, alongside Dubai’s adaptability and efficiency in responding to global economic changes, are fundamental pillars of the city’s growth and its global economic appeal.
In his first comprehensive interview since taking on the role of Chairman of the Dubai Chamber of Commerce, Al Mansoori discussed with a local newspaper that global challenges, such as tariff impositions in major markets like the United States, present opportunities for Dubai to reposition itself and enhance its role as a strategic trade gateway to regional and European markets, bolstered by its advanced infrastructure and logistics networks. The following is a summary of the conversation:
How would you assess Dubai’s current economic performance and the main drivers of growth?
Dubai has successfully established itself as a global trade hub, thanks to a clear vision from its leadership and long-term investments in infrastructure. The trading figures clearly reflect the emirate’s role in connecting global markets through its aviation and transport networks, which has boosted investor confidence in the local economy and attracted investors from major international capitals to settle and operate in Dubai.
Statistics from the year to date highlight Dubai’s substantial achievements; for instance, real estate sales surged by 39% in the first half of the year, reaching AED 326 billion. Additionally, Dubai International Airport recorded around 46 million passengers, marking the highest semi-annual traveler traffic in its history, while the emirate welcomed 9.88 million visitors, reflecting a 6% growth.
In the first quarter of the year, Dubai’s GDP was approximately AED 119.7 billion, and for the fourth consecutive year, the city maintained its position as the global leader for attracting new foreign direct investment projects. Over 35,000 new companies joined the Dubai Chamber during this time.
How has Dubai managed to retain its economic competitiveness despite rapid international shifts?
A key aspect of Dubai’s resilience is its ability to adapt to international changes, be they economic or geopolitical. Economic policies developed by the city have enhanced its role as a magnet for talent, capital, and innovative ideas. The conducive environment for innovation has fortified the digital economy, establishing Dubai as a significant player globally in this field.
Proactive policies, flexibility, and partnerships with the private sector have been crucial in navigating various economic crises. Additionally, the ongoing enhancement of the business environment and the development of infrastructure and legislation have further strengthened Dubai’s investment competitiveness.
Dubai benefits from competitive advantages, including a clear vision outlined in the D33 economic agenda, advanced logistics infrastructure, and robust connections globally by land, sea, and air. This, coupled with a dynamic and evolving regulatory framework, investment opportunities, and active collaboration between public and private sectors, provides a unique competitive edge, enabling Dubai to convert challenges into opportunities effectively.
Which economic sectors are currently driving Dubai’s economy?
The trade sector is the foundation of Dubai’s economy. Other sectors, such as tourism and aviation, are increasingly significant, enhancing the emirate’s status as a hub for business and investment. Attention is also growing towards the digital economy and green economy. The real estate sector remains robust, supported by global demand.
Looking ahead to 2024, the leading sectors for attracting foreign investment include hotels and tourism at 14%, real estate at 14%, software services and information technology at 9.2%, building materials at 9%, and financial services at 6.8%. This year, we anticipate that digital economy sectors will play a pivotal role in driving Dubai’s growth, particularly with advancements in artificial intelligence, fintech, and blockchain technology.
These sectors form foundational pillars for the emirate’s digital economic future and complement traditional leading sectors, such as commerce, logistics, tourism, and financial services, further solidifying Dubai’s status as a diverse and resilient global economic hub.
What are your growth predictions for Dubai’s economy in 2025?
Current indicators suggest Dubai’s economy is on a steady path toward achieving robust and sustainable growth in the near future, driven by positive factors, especially the strong performance of the foreign trade sector, and the economic infrastructure’s resilience and adaptability to global changes.
The economic performance in the first half of the year has been very positive, with growth reaching around 4%, indicating the effectiveness of the economic policies implemented by the emirate to enhance economic diversification, attract investments, and support productive and service sectors.
Based on current data, growth is expected to continue throughout the year, ranging from 3.5 to 4%, representing a balance between global challenges (such as geopolitical tensions and a slowdown in key markets) and the local and regional opportunities that Dubai has successfully capitalized on.
The positive growth outlook for this year is supported by a rise in foreign trade volume. For instance, we have seen significant increases in trade with Turkey, China, and African countries, ranging from 15% to 20%, despite global political and economic challenges.
How do comprehensive economic partnerships signed by the UAE with various countries enhance economic resilience and support the local economy?
The UAE has signed numerous comprehensive economic partnership agreements that play a crucial role in the growth and diversification of the national economy. The prominent sectors benefiting from these agreements include non-oil foreign trade, logistics services, clean and renewable energy, technology solutions, financial services, green industries, advanced materials, sustainable agriculture, and food systems.
These agreements have contributed to expanding the scope of economic diversification and opened new avenues for both the public and private sectors. Partnerships have positively impacted supply chain development and achieving food and energy security, strengthening the economy’s capacity to adapt to challenges while fostering industrial and technological innovation and expanding market access for UAE products.
How can Dubai navigate new global challenges, particularly the tariffs imposed by the United States?
With tariff impositions in markets such as the United States, countries like China are seeking alternative markets. Dubai emerges as a gateway for the region, Africa, and Europe due to its advanced infrastructure and logistics networks. Overall, Dubai views global economic changes as opportunities to reposition itself and expand its pivotal role in the global supply chains, cementing its status as a multifaceted global trade center.
How does the Dubai Economic Agenda D33 contribute to transforming Dubai into a global center for innovation and investment? Are the elements of the economy on track to meet the agenda’s targets?
The D33 agenda represents an ambitious strategic roadmap aimed at doubling Dubai’s economy over the next decade. It is distinguished by its comprehensive and integrated approach, combining the development of traditional sectors like trade, tourism, real estate, and financial services with the enhancement of future sectors such as the digital economy, advanced industries, innovation, and entrepreneurship.
Key to the success of the D33 agenda is the existence of an effective, transparent governance system that ensures performance accountability. The agenda’s implementation is monitored closely, with annual performance assessments conducted transparently. This governance fosters confidence in the economic system both locally and internationally, serving as a strong signal to potential investors that Dubai offers a business environment grounded in transparency, discipline, and accountability.
Thanks to the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai is making steady progress toward securing leading positions globally across various economic and developmental indicators.
What role does the Dubai Chamber play in supporting the economy and attracting investments?
The Dubai Chamber has redefined its role to align with the emirate’s objectives, whether through supporting the digital economy or enhancing international presence by building cross-border partnerships. The priority of the Chamber is to empower the private sector both locally and internationally and to stimulate trade and investment flows between Dubai and various countries.
The Chamber continually seeks to expand international partnerships, enhancing the influx of multinational companies and quality foreign investments into Dubai.
The Chamber has positioned itself as the voice of the business community, establishing over 100 business groups and more than 60 councils to represent corporate interests. As a result, over the first half of the year, it reviewed 27 laws and legislative proposals in collaboration with business groups, with a 60% approval rate on private sector recommendations compared to 46% in the first half of 2024.
The Chamber focuses on enhancing the private sector’s ability to adapt to global changes through embracing flexibility and proactivity. In terms of supporting Dubai-based companies’ international expansion, the Chamber assisted 60 local companies in the first half of the year, an increase of 76%.
The Chamber organized trade missions targeting strategic markets, including two missions to Southeast Asia covering Thailand and the Philippines, as well as another to Africa that included Angola and Mozambique, resulting in 1,076 bilateral business meetings between Dubai companies and local firms in these markets.
What role do the Chamber’s overseas offices play in supporting global expansion for Dubai companies?
The Dubai Chamber of Commerce operates through its global network of 36 offices to showcase Dubai’s competitive advantages to business communities worldwide and attract investors from all around the globe to the emirate.
These offices provide the latest information and data about all economic sectors, projects, and new strategic initiatives in Dubai, promoting opportunity for foreign firms to leverage the promising prospects that Dubai offers, especially in line with the D33 economic agenda. During the first half of the year, five new offices were opened in Bangladesh, South Africa, Bengaluru in India, Thailand, and Canada to increase reach to investors.
The Dubai Chamber successfully attracted 31 multinational companies and 112 small and medium enterprises during the first half, witnessing a growth of 138% in the total number of companies attracted, while the Chamber’s overseas offices hosted around 247 roundtable discussions promoting Dubai as a global business destination and attracting investments.
How does the Dubai Chamber of Digital Economy support entrepreneurship and empower startups and SMEs? What are the key initiatives and achievements in this area?
Entrepreneurship is a cornerstone of Dubai’s economic strategy, and the Dubai Chamber is dedicated to empowering startups and SMEs by providing a nurturing environment to enhance their growth and expansion both locally and globally. The Chamber offers a comprehensive suite of quality services, including events and workshops aimed at developing entrepreneurs’ skills and shaping a better future for startups and small businesses.
One of the notable initiatives launched by the Dubai Chamber of Digital Economy is the Business in Dubai platform, a crucial tool for supporting digital entrepreneurship that simplifies processes for firms seeking to establish or expand their operations in the emirate.
In the first half of this year, the platform assisted 308 digital startups in expanding and growing, achieving a 39% increase in the number of supported companies compared to the same period last year. The Chamber also plays a pivotal role in fostering a digital entrepreneurship environment by hosting the Expand North Star exhibition, which has become the largest global event connecting startups with investors from all over the world.
The exhibition has experienced remarkable growth since its inception, with the number of participating digital startups rising from approximately 1,800 in 2016 to 1,800 companies in the 2024 edition. Under the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Dubai is confidently progressing toward its vision of becoming a global capital for entrepreneurship and digital innovation.
How do government policies impact the attraction of foreign direct investment in Dubai? What are the key economic sectors showing the highest growth rates this year?
Having a flexible and proactive legislative framework is critical for enhancing Dubai’s appeal to foreign direct investments. Efforts are ongoing to revise and develop laws, including the federal law on commercial companies, which allows foreign investors to establish and fully own their companies, as well as the law regulating commercial agencies, the corporate tax law, and establishing a Dubai authority for regulating virtual assets to oversee the activities involving virtual assets.
The successful strategic partnership between the public and private sectors is among the top competitive investment policies, and initiatives aimed at attracting skilled talent and specialized personnel contribute to increasing Dubai’s attractiveness for investors.
What was the value of exports and imports through companies registered with the Dubai Chamber of Commerce?
The Dubai Chamber recorded exceptional performance in the first half of this year, with the value of exports and re-exports from Chamber members reaching AED 171.9 billion, reflecting an 18% increase compared to the same period last year.
In the same period, the Chamber issued 409,083 certificates of origin, marking a 10% year-on-year growth, indicating increased trade activity and growing confidence in the emirate’s economic environment. With this momentum expected to continue until the year’s end, the Dubai Chamber anticipates achieving a historic record in member exports that will surpass the previous year’s total of AED 309 billion.
Additionally, 35,532 new companies joined the Dubai Chamber in the first half of 2025, reflecting a 4% increase compared to the same period in 2024.
What is the importance of family-owned businesses in the local economy? What is their contribution to Dubai’s economy, and how does the Chamber sustain their growth?
Family-owned businesses are a cornerstone of Dubai’s local economy, playing a foundational role in developing various economic sectors. They contribute approximately 40% of the emirate’s total exports, according to the latest statistics. Dubai is home to 59% of family businesses in the UAE, with the Dubai International Financial Centre hosting more than 120 family enterprises collectively managing assets exceeding one trillion dollars.
The Dubai Chamber for Family Businesses, operating under the Dubai Chamber since its establishment in 2023, focuses on ensuring the sustainability and growth of family businesses in the emirate while enhancing this sector’s economic contribution to alignment with the emirate’s future development plans.
The Dubai Chamber has taken a clear path to support these companies by organizing direct meetings with their leaders, particularly first-generation owners, to raise their awareness about the importance of modern corporate governance and the proper planning for leadership transition to the next generations. The Chamber also provides technical advice and guidance without direct interference, ensuring the ongoing success of family businesses.