First Dubai Business Forum to focus on trade with emerging markets, FDI and globalisation

Dubai Chambers has identified four key pillars for next month’s inaugural Dubai Business Forum (November 1-2): trade with emerging markets, globalisation, foreign direct investment and digital transformation.

A statement by the Dubai Chambers on Wednesday noted that it is widely predicted emerging markets will represent six of the world’s seven largest economies by 2050.

“As these important markets further enhance their capabilities, they will grow to form an integral part of the global economy,” it said, adding that the Dubai Business Forum “will explore effective strategies to embrace this shifting world order and do business with emerging markets.”

The forum will be held under the theme ‘Shifting Economic Power: Dubai and the Future of Global Trade’.

Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said: “Our carefully curated agenda is designed to ensure participants maximise their time together by focusing on topics that will play a fundamental role in transforming business for the future.”

He said the event will unite key public and private sector stakeholders to network and “forge significant deals”.

“The forum is envisioned as a unique platform to explore pressing global issues in depth, enabling the business community to take proactive steps to shape a future where business can thrive in an ever-evolving economic landscape,” he added.

The theme of globalisation will look at navigating the complexities of global markets to expand reach, boost profitability, and access valuable resources as well as the challenges that come with operating on a global scale.

While Dubai continues to attract record-breaking amounts of foreign direct investment (FDI), ongoing geopolitical issues, rising food and energy prices, and other economic pressures are impacting levels of FDI on a global scale.

Participants will hear about what the future holds for FDI from heads of state, policymakers, and financial experts.

Meanwhile, digital transformation will also be examined during the forum: advanced digital technologies that are contributing to the growth of business, trade, and investments by automating processes, reducing waste, and optimising supply chain management.

The inaugural edition of the Dubai Business Forum will be held at Madinat Jumeirah, under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

Dubai a ‘natural’ fit for Pakistanis looking to buy property abroad

It will look to build on the success of Dubai Chambers’ series of ‘Global Business Forum’ events and is set to play a key role in contributing to the targets outlined in the Dubai Economic Agenda (D33), which seeks to double the size of the emirate’s economy over the coming decade.

In September it was reported that more than 3,000 Pakistani-owned companies joined Dubai Chamber of Commerce (one of the three chambers operating under the umbrella of Dubai Chambers) in the first half of 2023.

Last year, H.E. Hamad Buamim, then CEO of Dubai Chambers, had told Business Recorder in an exclusive interview that Pakistan has close economic ties with the UAE and there is massive potential to further these links, particularly in the startup space