Dubai Chamber of Commerce
A grand total of 16,000 new members in eight months flat - Dubai Chamber has been keeping busy. Image Credit: Supplied

Dubai: The Dubai Chamber rolled out the red carpet to nearly 16,000 new companies between January and end August, with the opening of the Expo a likely pull for many of these entrants. This brings Dubai Chamber’s total membership to over 275,000 companies, for a year-on-year growth of 68.5 per cent.

“The membership growth is a result of the various business-friendly measures and incentives introduced by the government,” said Hamad Buamim, President and CEO of Dubai Chamber. He pointed out to Dubai Chamber’s ongoing efforts to attract innovative companies to facilitate Dubai’s trade with other market.

The number of e-transactions processed by the Chamber increased 7 per cent to 450,000 in the January-August period compared to about 419,000 transactions in the same period last year. In August, UAE free zones slashed license fees to Dh1,000 to attract new businesses.

The value of ATA Carnets - international customs documents that permit temporary import of duty-free and tax-free goods - reached Dh2.2 billion, a growth of 47 per cent compared to the previous year. This reflects an uptick in activity in the MICE (meetings, incentives, conferences and exhibitions) industry.

The number of ATA Carnets increased 5.1 per cent over the same period, reaching 2,188 in the first eight months. The ATA Carnet system is managed by Dubai Chamber in cooperation with Dubai Customs, facilitating the temporary entry of imports to Dubai.