Dubai Chamber reviews economic landscape & growth prospects in emirate

By Shilpa Annie Joseph, Official Reporter
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The Dubai Chamber of Commerce and Industry (Dubai Chamber) has reviewed the emirate’s economic landscape, growth prospects, and investment opportunities in the last quarterly meeting of 2021 with the Business Groups and Business Councils which operate under the auspices of the Chamber.

The meeting is part of the Chamber’s mission to represent, support, and protect the interests of the business community in Dubai. During the meeting, the Chamber introduced the private sector to the most recent developments in the laws and regulations.

According to the statement, the meeting provided a platform to connect with the business community and exchange views on the latest economic developments, identify the challenges being faced by the private sector, make recommendations to the relevant government agencies, along with exploring future investment opportunities.

Hamad Buamim
Hamad Buamim
President & CEO
Dubai Chamber

“The recent legislative developments will play a key role in enhancing UAE’s competitiveness, as they covered a broad spectrum of issues, most notably the Protection of Data Personal Law and the Law of Electronic Transactions and Trust Services amendment. 2021 has been a transformational year where not only did we get business back on track but also posted an impressive financial performance under the guidance of our wise and forward-looking leadership, which is a part of Dubai’s broader strategy to double the financial market’s size to $816.7 billion (AED 3 trillion). The Chamber is committed to strengthening public-private partnerships, and identifying opportunities for the private sector through its flagship initiatives such as the Global Business Forum. As the Official Business Partner for Expo 2020, the Chamber has been actively involved in bringing together global business communities and exploring opportunities.”

On his part, His Excellency Abdullah Al Nuaimi, Assistant Undersecretary for Communication and International Relations at the Ministry of Human Resources and Emiratization (MoHRE), has noted the Ministry’s keenness to empower entrepreneurship and support the private sector, to achieve inclusive and sustainable development.

During the meeting, Mr. Al Nuaimi reviewed the most prominent features of the Federal Decree-Law on Regulations of Labor Relations, which will come into force as of February 2, 2022.

As per the statement, “The new law intends to ensure the efficiency of the labor market, improving its ability to attract and retain talents, and at the same time, providing a stimulating work environment, flexibility, sustainability, ease of doing business and productivity by leveraging local and global talents.”

Further, Ms. Nadimeh Mehra, Vice President of District 2020, described how 80 percent of the Expo site will be repurposed to create a mixed-use complex with commercial, residential, and cultural districts that will be an ideal destination for housing, work, and exploration, with a focus on sustainability and a balanced and healthy lifestyle.

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