Dubai Chamber holds talks with heads of business groups, councils

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• First quarterly roundtable highlights the private sector’s contribution to the Emirate’s economy


• Buamim: “2010 will be a turning point in Dubai’s economic progress as discovery of the new oilfield will add a new dimension to the economy”


• Business community appeals for easy access to financial support and an early implementation of the Companies’  Law

 
At their first quarterly roundtable meeting of the year, top officials of Dubai Chamber of Commerce & Industry met with representatives of Dubai’s Business Councils and Business Groups as part of the Chamber’s mission to represent, support and protect the interests of the Dubai business community.
 
“2010 arrived with a lot of positive indicators for the Dubai business community. The year is  backed by record  exports in December”, said Hamad Buamim, Director General, Dubai Chamber.  
 
He added, “The recent discovery of the new oilfield will definately boost the economic capabilities of the Emirate by supporting Dubai’s diversified economy. This discovery will add a new source of income for Dubai and will also contribute in consolidating Dubai’s position as a regional business hub.” 

Over the past two years, the Chamber has strived to support and strengthen its relationship with the business community by meeting with representatives of its Business Councils and Groups every quarter and attempt to find practical solutions to the challenges facing the business community. The meetings also offer the business community a platform to voice their opinions and recommendations to different private and public entities.
 
On their part, the representatives of Dubai’s business community voiced their concerns and identified challenges that impinge on the development of their businesses and the overall investment atmosphere due to strict access to credit, diminishing financing options, government fees, and other administrative issues. They also requested for a number of follow-up meetings with officials of various Government entities and the early implementation of the Companies’ Law which they said will boost the investor confidence in Dubai.

Business Groups and Councils were also informed about a new chamber initiative that aims to discover and introduce new markets to its members. The quarterly Country Focus Briefing starting with Chile will empower Dubai businesses to enhance trade cooperation with one
of the world’s emerging markets in the Latin American region.
 
The representatives of the Business Councils and Business Groups were also briefed on a number of upcoming initiatives of the new website and an e-newsletter as these will highlight their news and achievements as well as help promote Dubai’s economic development.
 
The Director General of Dubai Chamber appreciated the role of the over 24 Business Groups and 35 Business Councils representing the large business community and the 78 trade centers belonging to different countries of the world. “They continue to play a key role in
the economic growth of Dubai and contribute to enhance trade according to best international standards which directly supports the reputation of Dubai as an international trading hub,” said Buamim.
 

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