Sheikh Hamdan
Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council at the Dubai Chambers. Image Credit: Twitter/@HamdanMohammed

Dubai: Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, said Dubai’s share of global freight traffic is at 11 per cent.

“Dubai invests tens of billions in expanding its shipping and air lines with more than 400 cities around the world, and we are the most rapidly growing, diversified city,” said Sheikh Hamdan on Twitter.

With a capacity to handle 19.3 million TEU (20-foot equivalent units), Jebel Ali ranks among the Top 10 container ports in the world. On Tuesday, Sheikh Hamdan launched the ‘Dubai Global’ project, an initiative to establish 50 integrated commercial representative offices for Dubai in five continents across the world during the next few years. “Our goal is to globalise our national companies, attract global investments, and add new markets to our global business lines.”

The initiative aims to strengthen Dubai’s position as one of the best business hubs in the world in addition to supporting companies by providing them with logistical support to expand their operations in more than 30 promising markets.

“We will double our economy over the next few years, establish the best business environment in the world, and be Number 1 in quality of life,” said Sheikh Hamdan

Dubai Global
The Dubai Global initiative is based on launching a wide network of 50 commercial representative offices for Dubai around the world. The network will operate as part of Dubai Chambers and in partnership with several government and semi-government entities in Dubai. The initiative aims to attract investment, talent, and new business to Dubai and support Dubai-based companies explore economic and commercial opportunities in 30 new global markets.

The commercial representative offices will provide specialised services, such as market research which includes detailed information about each market and its working mechanisms, and the legislative and procedural aspects to help companies take correct decisions.

The offices will also provide establishing and starting-up services, including logistical support and detailed information on commercial globalisation, aiming to “globalise” Dubai companies and promote their expansion in new markets.

Diversifying trade

The new initiative aims at developing ways to diversify trade by preparing exclusive studies on economic and commercial opportunities for many vital markets and establishing and maintaining local and regional business relationships. In addition, its goal is to create cross-border business opportunities by organising meetings, and global and regional events such as international business forums. The offices also aim to attract more investments, talent and companies to Dubai.

Sustainable economic growth

By implementing an advanced strategy to diversify trade and target new markets, this new network will contribute to the sustainability of economic growth in Dubai and the competitiveness and flexibility of the commercial sector in the emirate. The offices will also work through various channels and global partners to enhance the competitiveness of Dubai’s foreign trade.

The office network will be responsible for cooperating with a large group of specialised international companies to enable Dubai businesses to expand in their target overseas markets successfully.