Dubai Firms Invest $1.4bn in China from 2015 to 2023: Official
UAE and China deepen cooperation across multiple sectors, highlighted at Dubai Business Forum in Beijing
Dubai Firms Invest $1.4 Billion in China from 2015-2023, Strengthening Bilateral Ties
RIYADH: Dubai-based Emirati companies have invested $1.4 billion in China from 2015 to 2023, a senior official said.
Speaking at the Dubai Business Forum – China in Beijing, Mohammed Loota, Chairman and CEO of Dubai Chambers, highlighted the UAE’s commitment to supporting Chinese companies expanding in the Middle East and beyond.
As reported by state news agency Wham, Luta noted that the UAE and China are cooperating in various fields, including technology, entrepreneurship, tourism, renewable energy, agriculture and logistics.
UAE-China trade relations remain strong, with Chinese exports to the UAE at $55.68 billion, according to the UN Comtrade database.
“We are committed to supporting the growth of Chinese companies looking to start up in Dubai and expand into local and global markets. “I am confident that the Dubai Business Forum – China will contribute to further enhance the level of trade and investment between Dubai and China, which is witnessing remarkable growth,” said Lutha in his opening speech at the event.
Lutha also revealed that Chinese foreign direct investment in Dubai has reached $5.4 billion over the past eight years. However, a detailed year-by-year breakdown is not provided.
The number of Chinese companies registered with the Dubai Chamber of Commerce rose to 5,400 by the end of the second quarter of this year.
“While Chinese companies have traditionally focused on areas such as trade, logistics and business consulting in Dubai, there is now a noticeable increase in their interest in emerging areas such as artificial intelligence and green technologies. These future-oriented sectors are expected to witness significant growth in Dubai,” said Loota.
During the ceremony, Dubai Chambers signed an agreement with the China Council for the Promotion of International Trade to encourage increased investment in Dubai.
Organized by the Dubai Chambers of Commerce, the business forum attracted 800 prominent Chinese business leaders and investors.
The event also saw Dubai Chambers host a number of bilateral meetings between members of the delegation from the emirate, which included government institutions, private sector companies, Chinese investors and industry leaders.
