The first international edition of the Dubai Business Forum – China organised by Dubai Chambers concluded on August 21, 2024 in Beijing. The event attracted 800 prominent Chinese business leaders and investors, who learned more about the promising opportunities emerging for the Chinese business community in the emirate as a result of the Dubai Economic Agenda (D33), and featured high-level participation from key government entities and private companies from the emirate.
The forum, which was held under the theme ‘China, Dubai and Beyond: Igniting Global Trade and Investment,’ showcased the emirate’s thriving economy and competitive advantages, as well as the key strategic initiatives and projects in Dubai that provide quality investment opportunities for the Chinese and global business communities.
Harnessing Momentum
During his opening speech at the forum, His Excellency Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, commented: “The Dubai Economic Agenda (D33) is an integrated roadmap for economic development that enhances the emirate’s competitiveness and places us firmly on track to achieve our goals of doubling the size of Dubai’s economy over the coming decade and consolidating its position among the top three cities globally. Close partnerships and constructive cooperation between the public and private sectors create an exceptional investment environment for the global business community.”
His Excellency added: “We are committed to supporting the growth of Chinese companies seeking to launch in Dubai and expand into regional and global markets. I am confident that the Dubai Business Forum – China will contribute to further enhancing the levels of trade and investments between Dubai and China, which are continuing to achieve remarkable growth. The total number of active Chinese companies registered as members of Dubai Chamber of Commerce increased to around 5,400 at the end of H1 2024, while the cumulative value of foreign direct investments from China to Dubai reached AED 19.85 billion between 2015 – 2023.”
Strengthening Connections
Dubai Chambers organised a series of bilateral business meetings between members of the delegation from Dubai, which included government entities and private sector companies, and the Chinese investors and business leaders participating in the forum. The discussions created a platform to explore opportunities for cooperation and forge partnerships across a range of sectors to enable the Chinese business community to benefit from Dubai’s dynamic investment environment and expand into promising regional and global markets.
Strategic MoU
On the sidelines of the forum, Dubai Chambers signed a Memorandum of Understanding (MoU) with the China Council for the Promotion of International Trade Beijing Subcouncil (CCPIT Beijing). The agreement is aimed at expanding trade relations and enhancing bilateral ties between the business communities in China and Dubai to achieve their mutual goals, in addition to supporting CCPIT Beijing’s member companies in establishing and expanding their investments in Dubai.
The two parties will work together to support the interests of businesses in Dubai and China, as well as assisting companies operating in Dubai to develop impactful partnerships with their counterparts in China and enhance their business and commercial ties in the Chinese market. The MoU also aims to promote cooperation in areas including organising business events such as exhibitions and conferences, arranging visits by trade and investment delegations between the two markets.
A Leading Hub for Innovation
The forum featured a total of 18 insightful sessions addressing a range of topics and sectors including trade and logistics, Artificial Intelligence, FDI, Renewable energy and healthcare. The forum discussed the contribution of the Dubai Economic Agenda (D33) in elevating Dubai’s role on the global stage from a major centre for trade to a leading global hub for innovation and opportunities, as well as the ambitious roadmap’s contribution to increasing the flow of Chinese investments to the emirate.
E-Commerce Prospects
The forum’s agenda included a panel discussion exploring emerging opportunities in the e-commerce sector. The session examined effective strategies to meet the evolving needs of consumers, as well as the latest developments in support services and the infrastructure and technologies required to thrive in the fast-growing world of e-commerce. During the session, speakers highlighted the importance of Dubai’s strategic location and advanced logistics infrastructure in expanding the business of Chinese e-commerce companies and increasing their share in this highly competitive market.
Supporting Mutual Development
In another of the forum’s sessions, participants discussed how the ambitions of the Dubai Economic Agenda (D33) align with China’s development plans and explored ways to promote enduring bilateral partnerships in key sectors. The dialogue focused on enhancing the flexibility of investment strategies and driving international expansion against the backdrop of an evolving global business landscape.
Role of Free Zones
The forum also showcased the unique benefits of Dubai’s free zones, which offer numerous competitive advantages and are tailored to the needs of specific sectors. Discussions highlighted their role in supporting economic diversification and enabling investors and companies to achieve sustainable growth, particularly in terms of expanding business relationships and partnerships within diverse industries and advancing research and development to drive innovation.
Leveraging Advanced Technologies
Artificial Intelligence (AI) formed a key pillar of the forum’s agenda, with a dedicated panel session addressing the shared visions of Dubai and China in this important field. Participants explored the synergies between China’s advanced research and development capabilities and the importance Dubai attaches to promoting AI applications, together with opportunities for companies and institutions to benefit from this integration by developing effective solutions and building impactful partnerships in local and regional markets.
Advancing Sustainability
Sustainability and green technologies featured prominently on the agenda, with strategies to promote sustainable business forming the main focus of a panel discussion highlighting mutually beneficial opportunities in the field between Dubai and China. The session examined the development of private sector joint ventures in the clean energy sector, with the goal of promoting the sharing of knowledge, experience, and best practices to meet the growing global demand for innovative and sustainable solutions.
Healthcare was also in the spotlight during an interactive dialogue that highlighted the strong emphasis Dubai places on medical data analysis and telehealth services to enhance the infrastructure and services within the industry and create a conducive environment for the private sector to develop innovative healthcare solutions.
–Dubai Media Office
