A total of 15,481 new Indian-owned businesses joined the Dubai Chamber of Commerce in the year 2023, with India emerging as the top country.
This surge represents a 38 percent year-over-year (YoY) increase, solidifying Dubai’s position as a prime destination for Indian investors.
Pakistan experienced a remarkable growth rate of 71.2 percent in new company memberships in 2023, welcoming 8,036 new Pakistani businesses, ranking second in the country, the Dubai Media Office (DMO) reported.
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented, “During the past year, Dubai has consistently attracted foreign direct investment from many different nations and sectors, underlining the diversity of the emirate’s business environment and its broad economic appeal as a global business destination.”
He added that the chamber is dedicated to offering specialized services to support strategic priorities, facilitate business activity, and enhance Dubai’s competitiveness, reflecting its growing global prominence since the Dubai Economic Agenda announcement.
Egypt ranked third with 4,837 new members, indicating a 63.2 percent YoY growth, while companies from Syria, the UK, Bangladesh, China, Jordan, and Iraq also experienced significant growth.
In 2023, the wholesale and retail trade and repair of motor vehicles sector saw the majority of new companies register with the chamber.
The real estate, renting, and business activities sector accounted for 32 percent of the total companies.
The construction sector accounted for 8.3% of new companies, while the transport, storage, and communications sector accounted for 8.1% of new companies joining the chamber.
