Dubai: Dubai Chambers will soon establish country-specific business councils under its umbrella to add to the sector related ones it already has. The plan is to create more possibilities for business connectivity, both within industry verticals and beyond them.
“We have targeted to set up 100 industry-specific Business Councils,” said Abdul Aziz Abdulla Al Ghurair, Chairman of Dubai Chambers. “We will work with them to raise the issue to improve doing business in their own sector.”
Feedback from the business community will be communicated by the Dubai Chamber to the government and federal agencies and facilitate those looking to trade or invest in other countries.
“We have enhanced our role to make sure that there is a fair presentation from the people of the country and we make sure that our local partners also sit on the board of this country, specifically our Business Council,” said Al Ghurair.
The Business Council will address issues faced by the business specific to investing and trading in a specific country and communicate it to the Dubai government to facilitate the community when they trade or invest in those countries.
According to Al Ghurair, the Business Council will have quarterly meetings to evaluate their progress. “We have agreed they will set up KPIs for them,” said Al Ghurair. “So they tell us what they are going to achieve by the end of the year.”
Dubai Family Business Centre
There will also be a Dubai Family Business Centre to handle all family-related issues and ensure smooth transition from generation to generation. The FBC is expected to open in two months.
“We will ensure with enough communication, the need to put proper legal structure for family businesses, corporate governance, leadership succession plan,” said Al Ghurair. “Gender involvement in the future must be there because we know what our daughters and mothers will be someday become the shareholders of the business.”
He stressed that it is critical to ensure a steady transition once the founder moves on and there is a second generation ready to take over the business.
The Family Business Council will not only cater to large family businesses but also serve small and medium-sized family businesses. The Chamber will have a special programme to ensure that they are all included in our programmes, Al Ghurair confirmed.