BEIJING: Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said that Dubai-based Emirati companies had invested a total of $1.4 billion in the Chinese market from 2015 to 2023.

Lootah highlighted the increasing interest of Dubai-based Emirati companies in expanding their presence in China, driven by enhanced trade exchanges and the growing potential for mutual investments between the UAE and China.

‘Both nations are working closely to boost cooperation across various sectors, particularly in the new economy, technology, entrepreneurship, tourism, small and medium enterprises (SMEs), energy, renewable energy, agriculture, aviation, logistics, infrastructure, and industry. These efforts are crucial for the sustainable economic growth of both countries,’ Lootah told the Emirates News Agency (WAM) during the ‘Dubai Business Forum – China’.

He also noted that the number of active Chinese companies registered with the Dubai Chamber of Commerce reached around 5,400 at the end of H1 2024. Out of the
se, 742 companies were newly established this year, marking a significant 12% growth, which underscores the increasing appeal of Dubai as a strategic hub for Chinese businesses looking to expand internationally.

‘While Chinese companies have traditionally focused on sectors like trade, logistics, and business consulting in Dubai, there is now a noticeable increase in their interest in emerging sectors such as AI, green technologies, data centres, Web 3, and the infrastructure needed to support these sectors. These future-oriented sectors are expected to witness significant growth in Dubai,’ Lootah stated.

He added that the Dubai Business Forum held in China was the first international edition of this forum, which highlights Dubai’s role in offering attractive investment opportunities to Chinese companies and fostering stronger economic ties between the two sides.

Source: Emirates News Agency