Dubai Chamber of Commerce Welcomes Additional Sector-Specific Business Groups
Bringing the total number of Business Groups to 45
- Lootah: These latest business groups will help ensure transparent communication between key players in each sector – the Chamber will continue to help create meaningful dialogue between group members, the Chamber and government.
- The groups focus on companies operating in fabrication and welding, electrical equipment and contractors’ business, cable and wire, and steel and metal traders.
- The global welding market is projected to grow from US$20.99 billion in 2021 to US$28.66 billion in 2028 at a CAGR of 4.6%.
- The cable & wire sector’s market size was estimated at US$192.48 billion in 2021 and is projected to grow at a CAGR of 4.2% from 2022 to 2030.
- In 2021, the UAE was the 15th largest iron ore importer in the world with imports reaching the highest level of US$1.3 billion in 2021, representing a 93% year-on-year growth.
Dubai, UAE – As part of its plan to create 100 sector-specific business groups by March 2023, Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, today announced the launch of four new business groups, bringing the total number of sector-specific business groups to 45.
The groups focus on companies operating in fabrication and welding, electrical equipment and contractors’ business, cable & wire, and steel and metal traders.
The establishment of the new business groups is part of the Chamber’s plan to develop the private sector’s contribution to sustainable development and boost the business community’s competitiveness within Dubai’s economy and further afield.
Mohammad Ali Rashed Lootah, President & CEO of Dubai Chambers, said: “These latest business groups will help ensure transparent communication between key players in each sector. As members of Dubai Chamber of Commerce, companies joining these groups are underlining their commitment to growth, and in turn, will help grow Dubai’s economy. The Chamber will continue to help create meaningful dialogue between group members, the Chamber and government.”
Fabrication & Welding
The global welding market is projected to grow from US$20.99 billion in 2021 to US$28.66 billion in 2028 at a CAGR of 4.6%, with welding witnessing positive global demand. As the industry evolves, with greater technology, automation and robotic welding becoming more commonplace, this group will help ensure the future positive growth of the sector within Dubai.
Electrical Equipment & Contractors Business Group
As per Euromonitor International, the forecasted retail sales of consumer electronics in UAE will reach AED32.5 billion by 2027 and this includes computers and peripheral, in-car entertainment, in-home consumer electronics and portable consumer electronics.
Cable & Wire
This sector’s market size was estimated at US$192.48 billion in 2021 and is projected to grow at a CAGR of 4.2% from 2022 to 2030. Growth in the sector in Dubai is being seen with continued urbanisation and growing infrastructure, impacting power and energy demand in commercial, industrial, and residential sectors. Smart upgrading of power transmission and distribution systems and development of smart grids will drive market growth to 2030.
Steel & Metal Traders
According to Trademap, in 2021, the UAE was the 15th largest iron ore (HS 2601) importer in the world with imports reaching the highest level of US$1.3 billion (5.2 million tons) in 2021, representing a 93% year-on-year growth. Dubai Chamber of Commerce welcomes the formation of these special business groups, as a key link between specific sectors, key players, government and interest groups.
Mohammad Ali Rashed Lootah: “We believe in the power of public-private sector partnership to achieve the goals of the Dubai Economic Agenda (D33) and the National Food Security Strategy 2051.” The chamber launched eight new Business Groups in 2023 to advance the interests of F&B companies and enhance the private…Read more
Collaborative workshops will focus on building and implementing effective strategic frameworks for the governance of family businesses. The sessions will also introduce the services provided by the centre and the support it provides to elevate the institutional capabilities of family businesses. Dubai, UAE – The Dubai Centre for Family Businesses,…Read more
The meeting was complemented by a site visit to the city’s Fruit and Vegetables Market following an invitation from local traders. The chamber is committed to advancing the interests of Dubai’s dynamic business community as a key strategic priority. Dubai, UAE – Dubai Chamber of Commerce, one of the three…Read more
Mohammad Ali Rashed Lootah: “One of the chamber’s key roles is to actively support the evolving needs of Dubai’s dynamic business community. This webinar was aimed at enhancing awareness on key legal changes that affect companies operating in the emirate and contributing towards developing a business environment conducive to sustainable…Read more
The most important value-based drivers include a commitment to ethical business practices, social responsibility, and demonstrating leadership in ESG. Mohammad Ali Rashed Lootah: “The success achieved recently by Dubai and the UAE in hosting the COP28 summit reflects the continuing drive to adhere to sustainable and responsible development.” “We are…Read more