Dubai Business Forum 2023: Highlights Special

Dubai Business Forum 2023: Highlights Special

Dubai's Focus on Africa

  • Dubai Chamber sees Africa as one of the most important markets for business and investment.
  • There are currently 19,000 active members of Dubai Chamber from Africa, with approximately 600 coming from South Africa.
  • The number of exports from Dubai Chamber members to Africa has shown steady growth, averaging more than 60%.
  • Dubai's strong logistic network, including its airlines and ports, makes it a global connector for doing trade with Africa.
  • Dubai Chamber has seven offices in Africa, covering all regions of the continent.
  • Dubai Chamber organizes outbound missions to Africa to increase trade and investment.

Importance of Dubai's Airlines and Connectivity

  • Dubai's airlines, such as Emirates, play a crucial role in connecting the city to the rest of the world.
  • Dubai focuses on attracting transit and stopover traffic to increase tourism and business opportunities.
  • Dubai Chamber works closely with airline partners to identify capacity and encourage travel to the city.
  • Dubai also looks for opportunities to open up new markets by instigating demand and working with local carriers from key source markets.

Dubai's Emphasis on the Digital Economy

  • Dubai sees the digital economy as one of the fastest-growing sectors, touching various industries including real estate and fintech.
  • Fintech is the largest sector within the digital economy and is expected to continue growing.
  • Dubai aims to become a platform for companies to explore emerging markets and test new technologies.
  • The target for the digital economy in Dubai is to reach $150 billion by 2030.

Dubai's Role in Space Exploration and Technology

  • Dubai has been using space as a platform for development and has made advancements in space exploration and technology.
  • The Emirates Mars mission and the ASNOA program have led to increased interest in the space sector from investors and businesses.
  • Dubai aims to be a hub for new technologies and innovation, attracting entrepreneurs and subject matter experts to create an environment for growth.

Partnerships and Opportunities

  • Dubai Chamber is actively expanding its presence in Africa, with increased offices and collaborations.
  • Dubai sees Africa as a significant growth opportunity, particularly in sectors such as consumer goods, commodities, and pharmaceuticals.
  • Dubai Chamber has signed agreements with companies to support their expansion in Africa, such as Luta Biofuels Inc. and Bioventes.
  • The MOU with Dubai Chamber of Digital Economy aims to facilitate the import of skills to Dubai and increase collaboration with international talent.
  • Dubai aims to create an environment where businesses can experiment, innovate, and grow, particularly in emerging markets.

Dubai's Focus on Sustainability and Global Partnerships

  • Dubai acknowledges the challenges in the global economy, such as the green transition and inflation.
  • Dubai is committed to sustainability and has preparations for hosting COP28.
  • Dubai's growth strategy and development have been supported by its capital base and vision.
  • Dubai emphasizes the importance of partnerships, regulatory environment, and understanding the global landscape in promoting trade and investment.

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