Mohammed Ali Rashid Loutah, the Director General of Dubai Chambers, has indicated that international missions have opened significant investment opportunities for companies in Dubai. He noted that the Dubai Chamber has organized over 4,000 bilateral business meetings between participating companies based in Dubai and their private sector counterparts in various nations since the initiative’s inception. These meetings aim at exploring partnership and collaborative opportunities, either by enhancing bilateral trade or by establishing a company branch in the target market, emphasizing that these interactions have played a crucial role in forming successful economic partnerships.
In a special interview, Loutah mentioned that the Dubai Chamber launched the “New Horizons for International Expansion” initiative in 2023 to strengthen its contribution to achieving the goals of the “Dubai Global” initiative, introduced by Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Vice President of the UAE. This initiative aims to support Dubai-based companies in exploring new economic and trade opportunities across 30 emerging markets worldwide.
Strategic Priorities
He added that this initiative aligns with one of Dubai Chambers’ strategic priorities, which involves leading the expansion of Dubai-based companies into international markets by connecting them to growth opportunities in key regions around the world.
Loutah explained that the Chamber works to connect Dubai companies with relevant stakeholders and potential business partners in the targeted countries through specialized trade missions and delegations. These missions include Dubai companies visiting promising global markets and engaging in business events and bilateral meetings to explore investment opportunities and shared economic partnerships.
The initiative also allows Dubai-based companies to participate in its external mission events, facilitating business opportunities that enhance their exports and providing all necessary economic data and strategic insights about the characteristics of the target markets. This includes information about regulations and policies specific to each country regarding branch establishment, trade privileges, investments, and partnerships, along with identifying external market investment opportunities.
Launching Dubai Companies
Loutah stated that while they continue to identify a range of lucrative international markets for Dubai-based companies, they aim to stimulate the expansion and penetration of these businesses into such markets through a comprehensive strategy. This includes organizing various trade missions and delegations, presenting vital opportunities for the private sector in Dubai to develop a global network of promising business relations and establish diverse agreements and contracts in multiple foreign markets.
Since the launch of this initiative in 2023, the Dubai Chamber has organized trade missions to 19 countries globally. Notable countries included in these missions are Uzbekistan, Kazakhstan, Kyrgyzstan, Rwanda, Kenya, Côte d’Ivoire, Nigeria, as well as Indonesia, Vietnam, Senegal, Morocco, Turkey, Serbia, Tanzania, Uganda, Angola, Mozambique, the Philippines, and Thailand.
He pointed out that the mission’s activities included hosting a dedicated business forum in each country, attracting significant participation from senior officials, business leaders, and local companies interested in exploring partnership opportunities with members of the Chamber’s delegations. Loutah noted that external missions serve as gateways to a world of investment opportunities that benefit Dubai companies and align with Dubai’s economic agenda, D33.
Goals
In response to a question about evaluating the performance of the Dubai Chamber’s trade mission in the Philippines and Thailand, Loutah reported that the Southeast Asia mission successfully achieved its goals by providing a direct and effective platform for forging new partnerships between the business communities of Dubai, the Philippines, and Thailand, focusing on business expansion and exploring collaborative potentials across various commercial and investment sectors.
He mentioned that during the mission, 468 business meetings were organized between participating companies and their counterparts in the Philippines and Thailand. These discussions extensively covered cooperation opportunities and areas for partnership across diverse sectors including food and beverage, human resources services, auto trade, hospitality, industrial oils, construction, agriculture, electronics, perfume trade, and investment.
The aim of these meetings was to facilitate the establishment of long-term relationships among business communities, enhancing the presence of UAE companies in the Philippine and Thai markets, while supporting the efforts of the Dubai Chamber to enable its members to expand internationally and explore promising markets. This aligns with ongoing efforts to diversify Dubai’s non-oil foreign trade markets.
Sectors
When discussing the most in-demand sectors from the Dubai Chamber’s perspective during meetings with officials in the Philippines and Thailand, Loutah stated that efforts were focused on highlighting sectors rich in diverse and fruitful export and investment opportunities from Dubai to the Philippines and Thailand. They provided market data and sector insights to help member companies in building suitable market entry strategies and expanding in collaboration with local firms.
Loutah also emphasized that promising export sectors from Dubai to the Philippines are diversified, including leather products, auto parts, fertilizers, flat steel, organic chemicals, and flooring. Sectors with noteworthy investment opportunities for companies based in Dubai in the Philippines include tourism, agricultural industries, telecommunications, logistics services, and healthcare.
Similarly, promising export sectors from Dubai to Thailand include iron and aluminum products, fertilizers, and animal feed, while significant investment opportunities for Dubai companies in Thailand encompass leasing services, renewable energy, logistics and distribution services, and medical tourism.
Challenges
Regarding the challenges faced by the Chamber during the trade mission to the Philippines and Thailand, Loutah noted that they focused on providing participating companies with a comprehensive overview of the business environment in both markets. They clarified regulatory and legislative procedures and highlighted appropriate mechanisms for conducting business across various commercial and investment sectors, empowering companies to make strategic decisions based on accurate and realistic data.
He added that every market around the world poses challenges, which is an inherent part of the business landscape. Therefore, it is essential to approach new markets in a thoughtful manner, considering current conditions, future prospects, and various influencing factors, including regulatory, financial, and tax requirements. The Dubai Chamber ensures member companies aiming to expand and diversify their foreign markets worldwide are equipped with all the necessary real data for successfully entering their target markets. They also connect businesses with reliable local partners to foster promising partnerships while enhancing direct communication with relevant government entities across various sectors in these markets to overcome obstacles encountered during the external expansion process.