Dubai Business Forum – China Highlights Growing Bilateral Investments and Emerging Sectors
Emirati companies based in Dubai have invested a total of $1.4 billion in China from 2015 to 2023, thereby increasing interest in augmenting their presence in the Chinese market. The information was given by Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, during the Dubai Business Forum – China. The event was meant to highlight deepening trade relations and growing potential for mutual investments between Dubai and China.
PC: Gulf Today
Strengthening Bilateral Investments
He emphasized the strong economic ties that exist between UAE and China, especially in new areas of the new economy, technology, and renewable energy. “Both nations are cooperating closely to accelerate cooperation in all fields, specially in new economy, technology, entrepreneurship, tourism, small and medium enterprises, energy, renewable energy, agriculture, aviation, logistics, infrastructure, and industry,” said Lootah.
The $1.4 billion investment by Dubai-based Emirati companies reflects the strategic push to ride the vast potential of China as a market. It also shows the confidence of Emirati businesses in the Chinese economy and mirrors the UAE’s strategic vision of diversification of its economic partnerships globally.
Expanding Dubai Presence of Chinese Companies
The interest is mutual, with the number of Chinese companies operating in Dubai also on the rise. At the end of H1 2024, nearly 5,400 Chinese companies were registered with the Dubai Chamber of Commerce. This represents a 12 percent increase compared to the previous years. In fact, 742 Chinese companies joined in 2024 alone, thus underlining Dubai’s rising stature as the strategic hub for Chinese companies eyeing international expansion.
Traditionally, the sectors that Chinese companies in Dubai are involved in are those of trading, logistics, and business consulting. However, he noted that of late, there has been a trend towards new emerging sectors: Artificial Intelligence, Green Technologies, Data Centers, Web 3, and Infrastructure. It means that the move to cutting-edge industries points out the changing face of Dubai’s economy and its appeal for the innovative Chinese companies.
Dubai Business Forum – China: Platform of Cooperation
The Dubai Business Forum – China was the first overseas version of the forum and focused on Dubai’s role in offering attractive investment opportunities to Chinese companies and strengthening closer economic relations between the two countries. Themed “China, Dubai and Beyond: Igniting Global Trade and Investment,” the event was a platform for Dubai to underline its booming economy, competitive edge, and immense opportunities it offers to investors worldwide.
The forum attracted 800 prominent Chinese business leaders and investors, with high-level participation from key government entities and Dubai-based private companies. The forum provided an opportunity for the exchange of ideas, exploring areas of collaboration, and discussing ways to improve bilateral trade and investments.
Expanding Trade Relations through MoUs
On the sidelines, Dubai Chambers signed a Memorandum of Understanding with the China Council for the Promotion of International Trade Beijing Sub-council to expand trade relations and bilateral ties in Dubai, while helping CCPIT Beijing member companies explore investment opportunities in Dubai.
The MoU provides for increasing cooperation in hosting business events, including exhibitions and conferences, in each other’s markets and visits by trade and investment delegations. This strategic partnership mirrors the shared aspiration of both Dubai and China toward closer economic collaboration and new growth opportunities.
The Dubai Business Forum – China underlined close, ever-growing economic linkages between Dubai and China. With Dubai-based Emirati companies investing USD 1.4 bln in China and the rising number of Chinese companies setting up shop in Dubai, the relationship between the two markets looks set to further deepen. In the near future, with both nations continuing to explore opportunities in new sectors, their bilateral trade and investment relations will be very bright.
