DUBAI (WAM)
A recent analysis by the Dubai Chamber of Commerce, one of the three chambers operating under the umbrella of Dubai Chambers, has revealed that Indian investors topped the list of new non-Emirati companies joining the chamber during the first half of this year, with 7,860 new companies.
The findings highlight Dubai’s strong ability to attract direct investments from India and underline the emirate's growing appeal among international businesses.
Pakistan ranked second on the list with 3,968 new companies joining in H1 2024, while Egypt followed with 2,355 new companies registering as members of the chamber.
During the first half of the year, 1,358 new Syrian companies joined the chamber, placing the country fourth among the top nationalities of new member companies.
The United Kingdom ranked fifth with 1,245 new companies, while Bangladesh ranked sixth with 1,119 new Bangladeshi companies during H1 2024.
Iraq secured seventh place on the list with 799 new member companies, and companies from China claimed the eighth spot with 742 new companies joining the chamber’s membership.
Sudan ranked ninth on the list, with 683 new Sudanese companies registering as members of the chamber. Jordan claimed the tenth spot, with 674 new companies joining the chamber’s membership during the first half of this year.
Regarding 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% of the total. The real estate, renting, and business services sector came second, representing 33.6% of the total. This was followed by the construction sector in third place with 9.4%, and the transport, storage, and communications sector, which ranked fourth with 8.4%. The social and personal services sector came in fifth place at 6.6%.
The construction sector demonstrated the strongest growth among the top five sectors of the new companies joining the Dubai Chamber of Commerce in the first half of 2024, registering a growth of 23.5% compared to the same period in 2023. The transport, storage, and communications sectors followed behind, achieving a growth rate of 13.6%. The real estate, renting, and business services ranked third, exhibiting a 9.5% increase year-over-year.