Thursday 22 October 2020 - 2:23:22 am

Dubai Chamber-Led Advisory Council outlines plans to boost economic competitiveness


DUBAI, 9th December, 2019 (WAM) -- The newly formed International Advisory Council recently held its first meeting at the Dubai Executive Council headquarters, where member companies discussed efforts to boost economic competitiveness and stimulate business activity in Dubai.

The council, established by the Dubai Chamber of Commerce and Industry, announced its plans to review the existing regulation, address challenges faced by the business community in Dubai, and bring forward new policy recommendations to enhance the emirate’s attractiveness as a global business hub.

Offering valuable insights on market conditions, the advisory council is joined by several Fortune 500 and leading companies operating in Dubai such as Amazon, Google, PepsiCo, MasterCard, MetLife, General Electric, General Motors, UPS, Mondelēz International, Procter & Gamble, Careem and McKinsey & Co.

The advisory council is among the key stimulus initiatives launched by the Dubai Chamber under the directives of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai.

During the meeting, the council members examined the growing role played by start-ups and e-commerce in contributing to the economy and stressed the importance of adopting measures that support the growth of companies operating within these sectors.

The attendees highlighted the need to form specialised working groups comprising key stakeholders from the public and private sectors who can share their feedback on business-related matters, in addition to their suggestions for improving existing policies.

Addressing council members, Hamad Buamim, President & CEO of Dubai Chamber, described the advisory council as a microcosm of Dubai’s diverse business community and said member companies would act as ambassadors promoting the city as the preferred place to do business.

By establishing the council, the Dubai Chamber has created an ideal platform to facilitate public-private partnerships that can stimulate business activity and boost investor confidence in Dubai, Buamim said, adding that multinational companies play a crucial role in cementing the emirate’s reputation as a global business hub, fostering a culture of innovation and driving economic growth.

 

WAM/Tariq alfaham