ISLAMABAD, AUGUST 15: In the first half of 2024, 3,968 firms from Pakistan became members of the Dubai Chamber of Commerce, which is second only to the number of new Indian members (7,860) at the same time.
Indian investors topped the list of new non-Emirati firms entering the chamber during the first half of this year, with 7,860 new companies, according to a recent report by the Dubai Chamber of Commerce, one of the three chambers functioning under the umbrella of Dubai Chambers.
The results demonstrate Dubai’s potent capacity to draw in direct investments from India and the emirate’s increasing allure for foreign companies. With 3,968 new businesses joining in H1 2024, Pakistan came in second place on the list, followed by Egypt with 2,355 new businesses enrolling as chamber members.
With 1,358 new Syrian firms joining the chamber in the first half of the year, Syria ranks fourth among the top nationalities of new member companies.
In H1 2024, the United Kingdom came in fifth place with 1,245 new firms, while Bangladesh came in sixth place with 1,119 new enterprises. Iraq attained the seventh rank on the list with 799 new members, while Chinese businesses occupied the eighth position with 742 new members entering the chamber.
With 683 new Sudanese firms enrolling as chamber members, Sudan came in ninth place on the list. With 674 new firms entering the chamber’s membership in the first half of this year, Jordan took tenth place.
In terms of the sectoral distribution of new member companies joining the chamber during H1 2024, the trade and repairing services sector ranked first, accounting for 41.5 percent of the total.
The real estate, renting, and business services sector came in second place, representing 33.6 percent of the total. This was followed by the construction sector in third place at 9.4 percent, and the transport, storage, and communications sector, which ranked fourth with 8.4 percent. The social and personal services sector came in fifth place at 6.6 percent.
Out of the top five industries for new businesses joining the Dubai Chamber of Commerce in the first half of 2024, the construction industry saw the fastest increase, up 23.5 percent over the same time in 2023.
With a growth rate of 13.6%, the transportation, storage, and communication sectors came in second. Third place went to the real estate, rental, and commercial services, which had a 9.5 percent rise from the previous year.
